Just when it seemed like the Canadian economy was recovering, we recently learned that only 2,300 jobs were created last month and that the country’s unemployment rate increased to 7.6%. It seems as if many employers are still holding off on the prospect of hiring full-time due to so much uncertainty.
But if you count yourself in that boat, could you actually be hurting your company in the process? As one of Winnipeg’s leading recruitment agencies, we know that while the financial investment associated with hiring a new employee is considerable, not hiring can actually cost you more in the long run. Here’s why:
Missed deadlines.
When you don’t have enough people in place to do the work, it’s inevitable that you’ll miss deadlines. Missing one isn’t the end of the world, but repeatedly getting behind schedule is a sign it’s time to hire more personnel. Otherwise, you’ll wind up with stressed out staff and unhappy customers.
Increase in overtime costs.
If your overtime costs have skyrocketed and there’s no end in sight, then it’s time to hire. However, if the increase in overtime is due to a temporary project, then consider bringing in temporary or contract staff until the project is complete.
Unhappy employees.
You can’t make employees happy all the time. Sometimes, due to work demands, employees have to do things they don’t want to. However, if this is occurring on a regular basis and employees are stretched to the max – and you still want them to do more – then you need to hire. If you continue down this road, you’ll wind up with miserable employees who are going to quit as soon as a new opportunity comes along. In the meantime, they make take plenty of sick days and vacation days to deal.
Performance problems.
In the worst cases, employees may get to the point where they simply don’t care whether they do a good job or not because they’re so overworked. And disengaged employees will have a negative impact on your bottom line.
If these signs sound familiar, and you want to take the next step toward hiring, let us know. As one of Winnipeg’s leading recruitment agencies, we can give you access to industry leaders and top talent. Learn more now.
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