When can you hire a new employee?
This is a question that I've been struggling with so much.
Let me share a bit of background for you:
🐝 Our revenue is growing, and now it seems that we are quite full, especially on our recruitment side of things.
🐝 It seems that there are new cases coming to the pipeline every week.
🐝 It seems that in this market situation, customers want to buy more projects than ongoing services.
🐝 It seems that we are winning deals, but many deals are postponed.
So now we are basically in a situation where if we close more than 1 new customer in the upcoming weeks, we need to hire someone to our team. Or do we?
If we get ongoing customers, I am super happy to hire someone, but if we only get project customers, I'm not sure if we have the courage to hire a person. What will happen if we are unable to sell new projects?
Based on everything, I see four different options:
1) If we get ongoing customers --> We hire someone.
2) If we get project customers --> We utilize Freelancers
3) If we get projects, we hire someone (and hope that we can sell more projects.)
4) If we get projects, we tell the customers we are full and can't take new projects right now.
The number 1 would be my favorite, but if it's project work: What would you do in my shoes?
I've often heard that in the service business, the biggest challenge will be balancing between sales & resourcing (+ now we add the super interesting market situation to the combination.)
I still remember the times at Advance B2B. Worrying about the sales part was easy, and I didn't realize the whole picture. Now it seems obvious.
How to hire fast?
One thing we have luckily done correctly at TalentBee is to make sure that we have people to hire when we get new customers.
Most companies hire in an ad-hoc way and would start to worry about hiring at this exact moment. Not us.
We have been building Talent Pipelines from the moment we launched. This means running interviews all the time & getting to know potential candidates, and nurturing those people in our talent pipeline.
Do you know what was quite cool? When I realized that we had a situation like this where we might need to hire someone quickly --> I just called a few of those persons this week to ask how things are on their end and if they would be interested in joining us if needed.
If you have done everything well in your employer branding & recruitment process, they will most likely say, "Yes, let's talk more" --> It's crucial to be open in these discussions as well. I shared with everyone where we are going, when we expect decisions from potential customers, etc.
Want to build Talent Pipelines in your company and make sure that you don't need to worry about hiring ever again? Shoot me a message :)