Expanding your team with new employees doesn't just involve financial costs, but can bring a wide range of short and long-term benefits. Why should you invest in this move?
Even if you have great products and a strong brand, the human factor is still a key element of your business. Who builds and maintains your website, provides customer support and ensures an efficient ordering process? Machines and artificial intelligence can help, but ultimately your employees are the key players.
So why expand the team with new employees? Here are some of the benefits this investment can bring:
Improving work ethic:
Overworked employees are usually not as productive and good at their jobs. Long-term overloads can have a negative impact on their physical and mental health. By expanding your team with new people, you can address this problem and improve the work ethic of all team members. This will increase the overall productivity of the company. All it takes is one new team member to transform the entire dynamic of a company.
Increase capacity for new orders:
Lack of capacity can hamper the growth of both e-commerce stores and other businesses. By expanding your team, you increase capacity for order processing, warehouse management and marketing activities. This will allow you to take more new orders and grow.
Gaining a new perspective:
New employees can bring new ideas and perspectives to your business. If you're looking for people in important roles like marketing management or technical development, they can bring innovative thinking and the ability to adapt to a changing market.
Expanding the knowledge of the team:
New hires can bring new knowledge and experience to the team. This can strengthen the diversity of skills on your team and help you better face different challenges.
The XYZ Company Example: the Path to Growth
XYZ, a small technology startup, specializes in developing software solutions for e-commerce. In the early days of its business, it had only a few employees who worked with the company founders to develop and maintain the products. Although the members of the original team were talented and passionate about their work, the company's management realized that in order to achieve further growth and competitiveness, they would need to strengthen the team with quality professionals.
Leveraging operational funding into quality employees.
XYZ management decided to use operating financing to recruit and develop the team. They found it was crucial to find people with deeper skills and experience in software development, e-commerce and digital marketing. They decided on a new recruitment strategy that included:
Improving the recruitment process:
They introduced more challenging selection processes and tests to identify the best candidates.
Offering an attractive work environment:
They leveraged part of the operating loan to the business by investing in a modern workplace and employee benefits package.
Quality Employees as a Key Element of Growth
As soon as new employees started joining the XYZ team, remarkable things began to happen:
Innovation growth:
The range of ideas and perspectives expanded with the addition of new employees. They were willing to try new approaches and technologies, which led to innovations in the company's products and services.
Increased productivity:
The new employees were very experienced and quickly adapted to the company environment. This led to faster product development and more efficient work.
Revenue growth:
With better product and services, XYZ Company's sales began to increase. New employees brought digital marketing skills to the team, which helped attract new customers.
Strengthened market position:
Through innovation, revenue growth and attracting new customers, XYZ strengthened its market position and became a leader in its industry.
XYZ is a prime example of how investing in quality employees can serve as a key factor in a company's growth and success. New employees have brought innovation, increased productivity and revenue growth, enabling the company to strengthen its position in the market. This shows that putting resources into recruiting and retaining talented professionals can be one of the best investment steps you can make as a company for your long-term growth and prosperity.
You can also easily finance a new workforce with our operational financing for entrepreneurs. Our SME operating loan can help you bridge the period between new employee onboarding and real results that will translate into sales. With a stable cashflow, you won't have to financially strangle other essential items for your growth, which could be budgeting for marketing or inventory, for example.