Walking a Fine Line: Knowing When to Expand to Keep Up With Growth
- May 25, 2016
Growth is good news for business, except perhaps when it happens too quickly. Business growth that occurs at a too-rapid rate can force you to make expansion decisions before you’re ready, leading to both short and long-term repercussions. While expansion usually ends up being for the good of all, knowing just when to put it into practice is a delicate balancing act. If you think your organization is ready for a staff expansion, be prepared for the adjustment period that comes along with it. It will require effort and dedication from your current staff, but handled deftly; you ’ll find it pays off in the long run.
The Right Time for ExpansionAs your business grows and you sense the need for additional personnel, how do you determine that the time is right to bring in additional staff? There are some common clues you can look for:
- Current team members are letting you know they have too much to do.
- Employees say they’d be willing to take on more tasks, but they lack the time to do so.
- Your brand’s growth curve is increasing, and you view it as a positive trend, not merely a blip.
- You’ve decided now is the time to take a calculated risk and expand, but your current staff isn’t able to assume additional responsibilities.
- Your expansion will require staff with new or increased skills and knowledge that your current staff does not possess.
Taking the LeapThere are some factors you’ll want to consider when you decide the time is right to make additional hires. Top of the list is creating comprehensive job descriptions that include:
- Each position’s duties, responsibilities and tasks.
- The expected job performance standards.
- The proper chain of command—both who the new employees will report to, and who, if anyone, will report to them.