Blog & Company News

May 7, 2012

Hiring How To’s

[caption id="attachment_393" align="alignright" width="280" caption="Hiring How To's"][/caption] This article was originally published on our Forbes blog and can be found at: http://www.forbes.com/sites/thesba/2012/05/04/hiring-how-tos/ We recently released the April results from our SB Authority Market Sentiment Survey. The survey showed that a majority (67%) of business owners do not plan on hiring in the next six to 12 months. Additionally, the Labor Department revealed today that only 115,000 jobs were added in April, down from 154,000 newly created jobs in March. Only 63.6% of the adult population is currently participating in the job market, the lowest level the market has seen since 1981. How do we go about changing this? As a business owner, what are some things you should know before looking to hire?

1. Know the position. You should know the exact description of the position you are looking to fill. Having the job duties and responsibilities laid out will assist when recruiting and interviewing candidates. It will help you to understand the skill set needed by your potential future employees.

2. Know your salary range. Once you know the position you need to fill, do some research. You should have a good idea of the appropriate salary for the position. Is this an entry level position? Mid-level? Executive? All of these will impact the proper salary range that you should offer your candidate.

3. Know where to look. Part of the hiring problem is not knowing where to find good candidates. Websites like Monster or Career Builder are a great resource. Additionally, college job boards are an excellent place to find great, young entry-level employees.

4. Know your new employee. Once you think you have found a good candidate, you should do a full background check and interview. This will allow you to look into your candidates’ prior history and ensure that they will be a good fit for your company.

5. Know how to transition your new employee. Once you’re hired a new employee, you should have steps in place to transition them into your company. Oftentimes, this is done by a Human Resource professional. Once a new employee is hired, you will need to get all of their information in order to set them up for payroll and benefits. Additionally, the employee should be introduced to co-workers, managers, and upper-level executives.

6. Know how to compensate your employees. Once you have your employees set up, you will need to start paying them. Having a payroll management system in place will save you time and effort. With the legalities of managing a workforce and ever-changing federal, state, and local taxes, you need the right payroll solution. Using an online payroll system, such as Newtek Payroll, will allow your payroll to process quickly and easily.

Perhaps if business owners are educated on what steps need to be taken in order to hire quality employees, they will be more likely to actually go out and hire. Above are just a few steps that you should consider when starting your hiring process. Business owners have the ability to change the economy, and hiring is certainly a start in the right direction.