As I’ve stated many times before, the floundering economy means tough times ahead for small business owners. Although there will be obvious efforts to cut costs, including ditching the fax machine for Internet fax technology, there is one major advantage that many employers are forgetting.
Now is the perfect time to hire. Why? Business is the art of upgrading your team. And the jobs market has been flooded with possible new hires. This means that you’ve got a new selection of potentially great employees. It’s a buyers market for hiring.
Bloomberg.com reports that the U.S. lost 80,000 jobs in March. That’s 80,000 potential new hires that have flooded the market. Now, granted, a lot of them may not be great picks, hence their firing, but a some of them may be really great people that just found themselves in the wrong place at the wrong time.
Even though your own P&L may not be looking great, now may be the time to let go of a few low performers, while hiring a few really great new players. Restructuring can be painful sometimes, but now is probably the perfect time to do it. If your current set up is working well, don’t go kill the work horse, but if you’ve got problems it’s time to find some new blood.
Relevant Tags:economy, fax technology, Internet Fax, jobs, new hires, small business owners