What You Need to Know About Becoming an Employer
Whether you’re starting a business from scratch or expanding your one-man business, employees are essential. Employees will allow you to increase your production rate and delegate tasks that can help to free up your time for other things. However, becoming an employer for the first time can take some navigation.
Here’s what you need to know about what to expect.
Register as an Employer
It’s vital that the government knows you’re hiring employees for your business. You’ll need to register as an employer and obtaining a estate EIN is paramount. You’ll need to find out how to pay taxes on behalf of your employees too.
If you’re unsure about how to do any of this, it’s wise to hire an accountant. Your accountant can either take this work from you or give you advice on how to do it properly yourself.
Hire the Right Candidate
Many small business owners make the mistake of hiring friends or family to give them a job. As noble as this is, it often comes back to bite them somewhere down the line. Even if you’re hiring a small number of employees, they should all be properly vetted and interviewed.
Start as you mean to go on. If you have a long-term vision for your business, you should use this opportunity to practice finding the right candidates quickly.
Create a Contract
All of your employees should sign a contract that details their role and responsibilities, along with the hours they are contracted to work. This contract will serve to protect you and your employees in the event of any disagreement about the job role.
If there are any adjustments in the role during the course of employment, a new contract should be written to replace the old one.
Workplace Policies
Your employees should be clear about what’s acceptable in the workplace and what’s not. It’s best to consult with labor organizations before putting policies in place. These organizations can guide you on employee rights and privileges in the workplace.
If your employees are clear on what they’re not permitted to do while working, it will save you time and money on having to explain it at a later date.
Training
Even when an employee has all the qualifications necessary to do the job well, it can still take time to settle in and figure out the role. Your employees will benefit from your guidance and training so be willing to put time aside in the initial weeks.
Additionally, if training opportunities come up throughout your employees’ employment, allow them to take full advantage. If your employees are up to date with innovative ways of working, it will benefit your business.
Becoming an employer for the first time can be a daunting prospect but as with all things, practice makes perfect. Be as prepared as you can but it’s important to know that making mistakes is inevitable and most mistakes can be corrected.
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