A Quick Guide on What to do Before Hiring Your First Employees
When you constantly feel the need to get help in running your business operation, that is when you know you need to bring in your first employees. When you let people into your operation, you let go a certain degree of ownership and you must take all the right steps to ensure the security of your operation. Below are the five steps you must take to before you employ staff for your business.
First, you shall register your business. This is important to legitimize your business according to all set guidelines like taxes, social security, etc. It is the foundation for your business that ensures your company’s stability as it grows.
Second, you must take all the insurance covers appropriate for your business. There are many insurance policies that your business needs to have, but you must include general liability, professional insurance and workers compensation covers in your insurance plan. The workers compensation cover takes care of medical bills and lost wages for employees who get injured or fall ill while at work.
General liability safeguards you from claims against your company. They may include; accidents, injuries, claims of negligence, property damage, medical expenses, libel, slander, legal costs, and faulty products. A professional insurance cover will protect your business from lawsuits that may allege that your staff were negligent in providing professional services, made errors or omissions.
Another important thing for you to do is to design a training program that teaches your employees how to do their job and enlightens them on the safety precautions they must take while at work. This is important to minimize the types of risks covered in the ideal insurance covers mentioned above. Make sure that you keep a file for their training records and include signed sheets for each training module completed. This is evidence that you train them and use it as leverage for your business.
Prepare a contract for your employees before you hire them. An employee contract is important to highlight the terms and conditions of employment, responsibilities, and rights of an employee. It is an important tool that fosters adherence to all rules and regulations that mind about each other’s well-being and that of the business.
When employing staff for your business, makes sure that they are completely capable of the roles available. This is important because your interest will be growing your company and having people that know what they need to do allows you time to focus on other things. Competent staff also help entrepreneurs grow and improve their businesses through their input. Ensuring that they are aware of your objectives and principles puts all of you on the same agenda.
Lastly, make sure that you utilize pay stubs for their salaries. A pay stub for your employees’ salaries is important to break down their salary for them and will help you to keep track of their salaries. It is also evidence that you pay them and indicates what you pay for.