Hire for the Future
Payroll is one of the biggest expenditures in a design firm’s budget. If it tilts too far in the expense direction it can quickly eat up profits. On the other side of the balance sheet, however, is revenue. In developing their staffing plans (if, indeed, they have one at all), firms sometimes overlook the potential benefits of hiring more talent that their current business calls for. While such a strategy may appear fiscally unsound, it can, if done properly, pay big dividends.
Take a few moments to think about what having an additional employee might mean for your firm. Likely there is a whole list of things on your firm’s “to do” list or in its strategic plan that no one has the time to attend to. An additional staff person could either take on those tasks or free up other staff to do so by carrying some of their workload. Would your firm then be more productive, more efficient, more competitive? If you gained two or three new projects a year as a result, would that more than cover the costs of the additional employee as well add to the bottom line?
Over time, as the additional staff person becomes more knowledgeable and gains experience, your firm will develop the capacity to grow or expand into new areas without having to look outside the firm for needed talent. Like planting a seed, the investment you make in that employee now will produce valuable fruit later on and for years to come.
At DMC, we can assist with developing a staffing plan that best addresses your firm’s current needs while preparing for future growth. And we can help you find just the right person to take on those other duties no one else has time for. Contact us by email or phone us at (212) 777-5718 for a confidential consultation.