Christopher Wicks’ Post

I learned recently about a company that is using Time Doctor for tracking employees. And when I say tracking it means randomly taking screenshots from employee's laptops that are then reviewed by managers. Plus time tracking that is stopped when you go for toilet or when you're having business call (but not working with the laptop at the moment). 🤢 But why I'm writing this: Usually the companies never inform about such tools during the hiring process. You learn about this as late as possible 👉 When in a hiring process, always ask specifically about tracking software and demand specific answers.

🚀 Understanding the Costs of Hiring New Employees 💼💰 Expanding your team is exciting, but it's essential to understand the full costs involved. Here's what to consider: Salaries and Wages: Clearly, the most significant cost, but just the beginning. Recruitment Expenses: Advertising, interviewing, and background checks all add up. Training and Onboarding: Effective training is key to success but requires resources. Benefits and Perks: Health insurance, retirement plans, and other benefits are crucial for attracting top talent. Workspace and Equipment: From desks to tech, every new hire needs tools and space. Planning ahead for these costs ensures that hiring is a boost, not a burden to your business. https://lnkd.in/enQs7aN7 #Hiring #HR #SmallBusiness #BBHAdvisory #BusinessGrowth

There are two types of hires: The first type is a replacement hire, which is when an employer replaces someone, who may have left, retired etc The second type of hire is a growth hire, which occurs when an employer is hiring because it plans to grow, and is confident of doing so... In the news today, business confidence is picking up. When businesses are confident, they're more likely to hire for growth, i.e., spend money on hiring people in the hope and intention that they will get payback in revenue growth. If they're not confident, they tend not to hire. ➡ We can expect employers to be increasingly confident about making growth hires. This is good news for all of us, as we emerge from a series of economic setbacks: ➡ Covid ➡ Inflation increases ➡ Interest rate rises ➡ Ukraine ➡ Supply chain re Ukraine and Suez Canal Happy Friday.

A useful formula to track the rates of Hiring in your company.

Identify the Need It becomes clear that we need help in our departments. So clear that our staff are overworked and asking for help. There are two options, hire or reduce the work. To continue as is, it only reduces the quality and increases long-term costs due to mistakes, poor quality outcome, bad customer service, employees reduced capacity to perform due to stress and health, and so on. Since everything has a cost (direct and indirect),  questions to answer first: * Note that gains are also direct and indirect. ∆ what is the cost of hiring versus gains from the work done? ∆ Would hiring allow for expansion with additional gains? If there is a negative gain, be brave in getting rid of duties. The amount of tasks handled does not increase one's value, it is in the quality of valued tasks. This is assuming workflows are examined to reduce redundancy, collaborate with other units to create better systems and eliminating any unnecessary task the organization imposed on itself that are no longer required.  If with the new hire there would be a gain, then...to be continued

Most SMBs believe that hiring quickly is the key to growth. But I believe in strategic, slow hiring for better financial health. Here's why. Imagine you're building a house. You wouldn't rush to add more rooms before the foundation is set, right? The same principle applies to building a business. Your people are your foundation. And a weak foundation will crumble under pressure. I've seen it happen too many times. Startups that hire in a frenzy, chasing growth at all costs. Then struggle to make payroll when funding dries up. SMBs that overextend their teams, then have to make painful cuts when the market shifts. The smart approach? Hire slow and steady. Tie every role to revenue. Ensure each person is a value-add, not just a cost center. And build a culture of lean operations. Where everyone is efficient, productive, and essential. It may not be the fastest path to scale. But it's the surest path to profitability. And in the game of business, cash is king. Protect yours by being prudent with your most precious resource - your people. Hire like your financial health depends on it. Because it does.

This goes against the norm, but smart companies should always be hiring. It should be a no-brainer if an abundance of cash flow is coming in. But also if the company is struggling to meet its targets. If you can find someone who can 10X your ROI, you bring them in to solve problems and ultimately make everyone’s job easier. These 10X performers are not going to be interested in changing companies every time they’re approached by suitors, so you better grab them if you have their attention, regardless of economic conditions. Your hope is in 3-6 months the value (increased revenue or costs saved) they contribute will far exceed the cost of employing them. If you wait until economic conditions are perfect, your company is going to be in line with several other companies asking for the 10X performer’s services. At that point, you’re probably too late in getting any serious consideration to employ these individuals. As the saying goes, “Time kills all deals”.

Software engineers and other people who can work from home will stop being mad about compulsory returns to the office if you provide sunlight, fresh air, no micromanagement, parking, their own office in most cases, and a culture they actually like enough to justify more time commuting and less time with their families. Yes, that is possible. Yes, that is really hard, because people really like their families. Duh. We just let everyone at Hermit Technology do whatever they want, because they're adults and it's fine. I don't even understand why you would hire someone you don't trust to work independently for knowledge work. They pay taxes, feed themselves, and care for their children. I think they can manage work without being supervised like recalcitrant toddlers. Every team that I've seen ask for even three days in the office (this is clearly "Thought Leader innovation" - it's always exactly three days at bad workplaces) has immediately had every high performer start applying elsewhere. The impact on individual performance, institutional knowledge, and delivery capacity is enormous, setting aside the human cost. What I'm trying to say is don't stop doing it, I'm deeply lazy and it's much easier to run a business when most of the competition is so fundamentally unserious that I can just stumble my way to success, thanks!

Hiring in 2024. Here are a few tips

EoR vs independent contractor for your business expansion?   Three-quarters of SMEs say they plan to expand their international headcounts over the next year. 😯   Unsurprisingly, it’s all thanks to the development of technology, which has allowed employees to integrate with a company from across the world seamlessly.   The modern business world is almost completely dependent on remote tech to support and manage their globally distributed teams.   But, knowing whether to hire a full-time employee or an independent contractor can be confusing when hiring internationally. 🔀 Most companies side with an independent contractor to avoid benefit obligations, tax management and other legal liabilities. Sometimes at their peril.   Going down the contractor route may seem like the most straightforward option. ⏩   However, consider that contractors are inherently short-term and will not be part of your company's culture.   So, is it the only solution?   That’s where the Employer of Record comes in. 🧾   Outsourcing international employment to a separate entity ensures that a business is fully legally compliant with national employment standards. They also gain a full-time employee who can fully contribute to their culture and long-term success. 📈   So, EoR or contractor? ⚖️   Contractors serve a role, especially for short term quick fixes and one-off projects.   But when long-term goals such as company culture, inclusivity, bonding and team spirit are in mind, then an EoR will be a better solution.