A Checklist for What You Need 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. With new individuals in the picture, you lose some level of control over your business and you require taking some steps to ensure that your business remains secure. Here are the five things you must do before hiring employees for your business.
First, you must consider registering your business. This is important to legitimize your business according to all set guidelines like taxes, social security, etc. It is the foundation for your business that ensures your company’s stability as it grows.
Next, you must take business insurance covers for your company. Business insurance covers necessary for your company are numerous, but the most important insurance policies for your employees are general liability, professional insurance and workers compensation covers. 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 are; accidents, injuries, claims of negligence, property damage, medical expenses, libel, slander, legal costs, and faulty products. A professional insurance cover caters for claims of negligence in providing professional services, errors, and 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 do a great job at minimizing the risks that your business will pay for on insurance covers to safeguard itself. Ensure that your capture every employee’s training details in a file, signed by the two of you. This is proof that you have trained them and you can use it to save yourself whenever appropriate.
Prepare a contract for your employees before you hire them. Giving an employee a contract is important because it outlines the terms and conditions of their employment, their responsibilities, and their rights. It is great document for the both of you because it ensures compliance with all set guidelines.
When employing staff for your business, makes sure that they are completely capable of the roles available. Proficient employees will be hands-on their work and will give you room to grow your company. Competent staff also help entrepreneurs grow and improve their businesses through their input. Ensuring that they are aware of your objectives and principles puts all of you on the same agenda.
Finally, acquire a pay stub for their payments. 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 evidence that you pay them and indicates what you pay for.
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