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Hiring at a small business can be a bit of a nightmare. The time spent sifting through piles of resumes and scheduling interviews is only balanced by the benefit of finding a dedicated new worker who can add to the company.
But what if you can't find one?
For small firms looking to take on new staff, the high unemployment rate doesn't necessarily mean a flood of qualified applicants. A survey of small business owners showed that a large minority could not fill jobs posted in July because applicants were unqualified.
It can take time to train new employees, especially if they don't have the skills you're looking for. But it was can cost you just as much not hiring help when you need it.
Hiring a new employee is always an investment and not all small businesses have time to really train a new employee in the necessary skills as well as the specifics of this business.
That means those companies can't grow and expand. It can also mean liability for failed contracts.
If an existing contract requires extra help for timely completion, it may be a good idea to hire a less experienced applicant and train them on the job. While training may be an added cost, not meeting client expectations can result in liability for breach of contract.
Not only could you lose money if the work isn't done according to the agreement with the client, the understaffing might drive that client away and cost you repeat business.
Then again, failure to properly train employees can also result in liability. An employer is responsible for the actions of their employees while on the job and poor safety training can leave the owner with the bill rather than the worker.
Even if there is no outside liability, the cost of mistakes can add up over time.
If the reason for hiring is general company growth and there's no room in the budget for training then the balance likely falls in favor of waiting for the right candidate.
Potential liability calculations can be complex so if you're concerned, reach out to an attorney who can put your mind at ease. Don't let hiring complications keep your small business from reaching its full potential.