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CAN I AFFORD TO HIRE AN EMPLOYEE

Click on the link below to get our free exclusive eBook today: "14 Metrics That Every CEO Needs to Know". https://www.financialgps.co/copy-of-f... Hiring employees can make or break your business. Overhiring will drain your resources, and under hiring will stunt your growth. Finding the right time and way to hiring is one of the biggest differentiators betweens winners and losers. In this video, Rayce Rollins walks you through hiring methodology that you can use before you hire your next employee. Here is the three step process: 1. Create a Total Cost Spreadsheet: tally up the salary, taxes, retirement contributions, additional licenses, bonuses, and other variable cost you pay for your entire roster. Then add the "prospective new hire to it." 2. Check Your Key Metrics: Look at your Runway. How many months of cash do you have in the bank? If hiring another employee lowers your runway too much, you're not in a position to hire. A good measure is 6-12 months of cash. We also discuss Revenue / Employee and Sales Cycle in the video. 3. Ask Yourselves The Hard Questions: Do we really need to hire or can we automate certain processes or outsource other activities? Are my current employees engaged and enable? If you current team isn't productive, adding to the roster will only exacerbate the problem. Lastly, do you have an employee onboarding plan in place? New employees typically don't add value for a fews months. They need training and guidance. Are you in a position to provide such guidance ?