Enterprise Nation

Has your home business grown to a size that you’re considering recruiting a full time employee? Think carefully before you act.

The investment 
Taking on a full time employee will take up time and money. The financial cost of employment includes:

• Basic salary
• National Insurance Contributions (NIC) and Pay As You Earn (PAYE)
• Employee benefits (eg car/mobile phone)
• Company expenses/travel costs  
• Cost of accountants performing monthly payroll
• Cost of lawyers drawing up employment contracts

Add to this the time you’ll spend in managing, training, and motivating employees.

The upside
If you’ve found the right person, what you’ll get in return is commitment, desirable skills and, depending on their role, a new viewpoint in the business.

If this outweighs the investment in time and money required, you’ll soon be uttering the words ‘you’re hired!’