5 perks of running your business with only a few key people
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Most of us start out as not just the business owner, but the entire staff. If something needs to be done, we do it! Even when things reach the point where you can’t expand your business unless you start building a team, it’s best to limit your staff to a few key people, as Mishka Tolentino explains.
People say that one of the key assets of a business is its people. Without the workforce running its operations, a company would never reach its success. These employees are the primary contributors to the daily accomplishments and gains that sustain a company. However, having too many employees to do tasks is not really necessary. In this article, we will discuss some advantages of running your business with only a few key people.
1. Save Employee Costs
Hiring many employees would be tantamount to also getting more people to run payroll and compute for loans, deductions, bonuses, salaries and government contributions such as taxes, manage their data and conduct employee training programs to enhance skills. If you have a small business, getting a virtual assistant will be a wise idea. Relying on virtual assistants will save you money and incur less paperwork. Extra expenses catered for regular employees in the office can make a huge impact on small companies.
2. Easy Employee Relations
A company which has less human resources can have the ability to develop and maintain a solid relationship with its employees easier. The management can even conduct a one-to-one session with its key people to know the latest issues and suggest ways on how to rectify them. It will be faster to bridge the gaps in terms of communication by regularly talking to them and hearing their frustrations. Especially when there are a lot of concerns, employee relations will be a breeze when the management counts on only its primary people.
3. Easy Hiring Process
Businesses nowadays invest in ERPs and/or cloud solutions for recruiting activities. These tools are actually not cheap and require deep pockets. Finding good candidates is critical and there is a long process associated starting from initial review of the resume, consolidation and shortlisting of profiles, scheduling interviews and tests, conducting background checks and medical examination, etc. Getting only a few key people will take a simpler process and would not take much time out of your schedule.
4. Easier Management
Having fewer employees would mean also watching over fewer programs and services in running the company. With all the pressures you will be facing, the last thing you want is to hear arguments of several people working within the company and even to the point of putting the business at stake. With your key personnel, your business can soar high enough in a way that does not spread itself too thin.
5. Less Capital Expenses
More people would use up more office supplies, more electricity, more water, and more everything in the office. All these are expenses you can live without if you only have a handful of employees managing the company. For instance, part-timers and virtual assistants would have computers of their own.
Depending on the size and nature of the business, executing operations with a few key people would be better as long as everybody fulfills his job and works efficiently and effectively as part of the business’ backbone. One popular example of such company is Twitter which has about 300 employees but has boosted its business significantly in the last couple of years supporting 175 million users. If a startup company like Twitter can do it, you can do it, too!
Image courtesy of sheelamohan / FreeDigitalPhotos.net
Mishka Tolentino is a business student at University of Westminster. She is a freelance writer, web enthusiast and social advocate. She spends her free time listening to classical music and taking snapshots.