A Quick Guide on What to do Before Hiring Your First Employees
You know you are ready to hire your first employees when your operations begin to overwhelm you and you cannot do things alone anymore. Bringing in new individuals in the picture comes with its own risks and you must safeguard yourself and your business from all possible risks. Here are the five things you must do before hiring employees for your business.
First, you must consider registering your business. Registering your business is in accordance with the law and will facilitate the compliance with other requirements like tax, social security and so on. It is the foundation for your business that ensures your company’s stability as it grows.
Second, you must take all the insurance covers appropriate for your business. The insurance policies that your business must have are several, but general liability, professional insurance and workers compensation covers are critical in regard to your employees. The workers compensation cover pays for medical bills and salaries for your employees when they get injured or fall ill while on duty.
The general liability cover protects your business from the various types of claims that can be made against your company. They include; accidents, injuries, claims of negligence, property damage, medical expenses, libel, slander, legal costs, and faulty products. A professional insurance cover will protect your business from lawsuits that may allege that your staff were negligent in providing professional services, made errors or omissions.
Another essential for your preparation for your first employees is a training program that educates them on how they ought to do their work and the safety measures they must take while on duty. This will help you reduce the types of risks that the necessary insurance covers cater for. Make sure that you keep a file for their training records and include signed sheets for each training module completed. This is proof that you have trained them and you can use it to save yourself whenever appropriate.
Generate contracts for your employees before out bring them in. Giving an employee a contract is important because it outlines the terms and conditions of their employment, their responsibilities, and their rights. It is an important tool that fosters adherence to all rules and regulations that mind about each other’s well-being and that of the business.
When employing staff for your business, makes sure that they are completely capable of the roles available. This is important because your interest will be growing your company and having people that know what they need to do allows you time to focus on other things. Knowledgeable staff also give their input where necessary to help improve a business. Make sure that they understand your principles and objectives to ensure that you all work towards the same thing.
Lastly, use a pay stub for their remuneration. A pay stub is necessary to explain the particulars of an employee’s salary and helps you to keep records for their payments. It is also proof that you pay them and highlights the things that you pay for.