Even if you know that you need the extra help, you’ll still need to consider whether you can afford to hire a new full-time employee. Remember, ‘Overheads work on two legs!’ In other words, hiring an employee means salary, benefits, taxes, and worker’s compensation. Staff is likely to be your most expensive cost, so choose well and don’t employ more than you absolutely have to.

Once you have determined how much an employee will cost, you will need to estimate how much money that employee will make in the first year. If the employee is a sales person, then you should determine how many products you believe he or she can sell in that time.

A part-time employee costs less because they work less hours and often do not have the same benefits such as health care that full time employees have. Additionally, their hours are typically more flexible to fit around the times you most need them.

I’d like to hear what you’ve got to say about staffing a business. Please leave a comment…