In my experience, hiring employee’s sucks and can be a huge cash drain, hear me out.
For years, when I ran a large contracting company, I hired employees.
More often than not it rarely worked out.
Now, if you’re just beginning to hire take this into consideration.
Encourage your GREAT employee’s to become sub-contractors and start their own companies. This will make you their main revenue source.
Show them what production pay is all about.
That’s where my eyes were opened to entrepreneurship.
Don’t look it as competition, look at it as a leadership opportunity.
If you look at it as a beautiful partnership and you treat the sub-contractor well, they would never take food from your plate.
If anything, when a big project comes their way they will call you and ask for help…you benefit, always.
The benefits out weight the negatives a tenfold and then some.
Miss hires can cost you big.
Currently, I have a ton of sub trades, a rolodex of them in fact.
A few I work with on a consistent basis.
Sub-trades have a sense of ownership, and they care about their quality of work. A sub-tradie knows if they don’t get the job done they don’t get paid.
Employees can f-the-dog all day, and still rack in the profit, with zero ownership and a complete loss to you.
Plus, you eliminate most liability and added fee’s that employees come with.
You rid a ton of baggage.
It’s simple math, keep in mind this does not fit every business.
Yet if you can do it, do it.