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Debunking the big myths about making your first company hire

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Firstly, if you’ve got to the stage where you are thinking about making the first hire for your company, a huge congratulations is in order. After all, we don’t need to remind you about all of the damning statistics that do the rounds about new companies, and how many of them fail during the first years of operation.

However, when it comes to that first hire, you might need to talk yourself round to the idea. This is the point in your company’s life where suddenly, you are responsible for someone else. The success of your business, or lack of it for that matter, could have a monumental effect on someone else. This is probably the reason so many myths about the early recruitment process are doing the rounds.

Following on from the above, let’s now address some of these misconceptions and highlight the real truths about making that elusive first hire.

Myth #1 – You’re not ready for your first hire

This is something that a lot of young companies tell themselves; they fool themselves into thinking that they are just not ready for a first hire. Of course, there are times where this isn’t the case, and this is something that we will look at shortly.

However, you need to remind yourself that there is only so far you can go with the DIY approach. Your time is limited; you might work as many hours as physically possible, but this is capped. As soon as you hire someone, your output can be doubled. It’s this impact what you really need to think about; you need to assess just how much more value someone else will bring, not about the salary that you are now going to have to pay out.

Myth #2 – You are ready for your first hire

To play devil’s advocate, some businesses are the opposite as above. They think that they are ready for their first hire on day one and unless they have huge budgets, this is seldom reality.

Unfortunately, not all businesses are a success. You need to realize that there is a time to make a hire and if you still don’t have a steady stream of paying customers, taking on someone too early is a risky strategy.

Myth #3 – You have to start with permanent employees

Following on from the previous two points, there is a midpoint. We are now in the gig economy age; meaning that temporary work is more fashionable than ever before. A quick look at immediate start jobs London from Staff Heroes shows just how developed this market is, and there’s nothing stopping you from tapping into it. A lot of skilled workers are looking for temporary work, for personal circumstances, and by opting for this route you don’t have to commit to a full-time salary. To suggest that your first employee should be a permanent member of staff is ridiculous.

Myth #4 – You have to pay top dollar for the best employees

Does money play a part in the recruitment process? Of course, it does. Fortunately, there are other ways that you can play the recruitment game to your advantage. Being a young start-up, you need to prove your worth somehow, and offering the likes of flexi-time and smaller benefits can make you attractive for some people. Whether or not you will get the best in the business is another matter, but if you can show you will treat people well you might be surprised at the number of candidates who turn to your role.

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Latest Issue

BDC 317 : Jun 2024