As you likely know if you’ve brought your business this far, there’s a lot more to running a successful company than simply making your products great. In fact, like going back to the classroom, getting your business off the ground is all about completing necessary research to ensure that you know everything possible about business in general, as well as all any company specifics.
This is especially true as your company grows and you become knee-deep in bureaucracy, including your company standing (e.g. sole trader, limited company, etc.) and, as we’ll be discussing here, your employment drive. The question is, what exactly does an education in employment entail, and how is that going to help you towards successful expansion in the long run?
Step 1: A lesson in hiring options
Before you even consider advertising a position, it’s crucial to understand the types of employees you intend to hire, and the legalities involved with each. The most crucial decisions modern employers face with their hiring options especially include –
- Permanent employees: Employees who are contractually bound to full or part-time employment with your company, complete with agreed salaries, working hours, and company expectations including benefits packages, etc.
- Independent contractors: Technically self-employed individuals who provide goods or services under an agreed, written contract with your company, but who don’t technically work for you.
- Freelancers: Independent workers who collaborate with companies on a job-by-job basis and are paid a set fee for each project completed.
Legality shifts a great deal between these, so make sure that you’re clued up on the legalities in each instance to ensure success.
Step 2: Getting technical about employment contracts
Regardless of hiring choices, contracts are crucial, and you need to make sure you’re getting them right to both guarantee the work arrangements you require, and avoid contractual disputes that could result in the need for employment tribunal services. This is especially the case with permanent employees when contracts should always include information including job description, salary, necessary notice of termination, and expected hours. You then need to ensure that you’re sticking to this outline to avoid legal trouble and reputational damage.
Step 3: What about records?
Another crucial employment lesson is that of keeping comprehensive records for every employee. After all, while you might assume that you can discard things like original resumes, etc. all of this is crucial for compiling a complete employee file that should span a minimum of six years. Keeping crucial documents including records of meetings, copies of contracts, and so on is especially fundamental for your legal standing overall in case of disputes or discrepancies. All you need to do is learn the best ways to file those records, which now most commonly include electronic systems that ensure you can gain access at the click of a button!
The lessons never stop once you become the head of any company, but bringing employees onboard especially means that you need to get clued up about legalities like these to ensure the happiest, healthiest working team you could hope for.
