It’s a New Year – and that might mean you have to add to your team. But how can you be sure that hiring more staff is really the right move? As a leading temp services provider in Houston, Texas, Murray Resources knows that either way, it’s a big decision to make. Here are 4 questions to ask yourself to help you determine whether or not to bring more people on board in 2017:

#1: Do you have enough cash flow to pay for new hires?

You might be anticipating an uptick in orders. But if you’re hiring in advance of sales, you could end up with a strained cash flow if those orders don’t come in as planned. When you hire, you need to ensure your sales and revenue can support a new employee. If they can’t, but you truly need the extra help – so you can devote more time to selling – consider bringing in temporary or contract workers.

#2: Are you prepared for all the costs of hiring?

When you hire a new employee, it’s going to cost your company more than the salary you pay them. For instance, there’s payroll tax, health insurance, and HR laws you have to comply with when bringing new people on board. That’s why, before you make a decision, you have to ensure you’re prepared to handle both the financial and practical implications of new full-time employees.

#3: Can you tap into outside help?

You might find that it makes more sense to outsource business processes to a third party company, rather than hiring people in-house to perform certain functions – such as staffing and HR, accounting, and IT. That way, your company can remain more flexible, while still being able to respond to market demands. It can also free up your core staff to focus on other priorities.

#4: What are the costs of not hiring?

In other words, could you miss out on a lucrative opportunity or impair your business in some way if you don’t bring on more staff? Are existing employees going to be spread too thin and fall behind as a result? Will the quality of your service drop if you don’t hire more people? While it’s vital to consider the short- and long-term costs of hiring more employees, it’s also important to think about what can happen if you don’t hire more people.

If your cost benefit analysis is telling you that now’s not the time to hire more full-time people, but you need to add to your team to stay ahead of the competition, consider the use of temporary staffing. That way, you can hire people on a per project basis, or for a short-term period to get an important task off your plate, all without adding to your permanent overhead.

Interested in learning more about how your business can benefit from temporary staffing? Call the experts at Murray Resources. As a leading temp services provider in Houston, Texas, we can give you fast access to the skilled, qualified, and dependable temporary employees you need for a variety of positions. Contact us today to learn more.