Ready to add new faces to your business? A staffing plan can help you get your business off the ground and start serving your customers. To start, answer these questions:
- How many people do you need to hire?
- Should you use contractors?
- What skills do you need?
- What are your staffing options?
- What are you going to delegate to others?
Once you have an idea of what you need, you can begin the hiring process, set up policies, and get your payroll set up.
How do I get ready for employees?
Hire the right people from the start, and you’ll have a head start on growing your business.
Decide which type(s) of employees to hire.
Do you already have steady work? Then hiring full and part-time employees may make sense.
But what should you do when you don’t know how quickly your work will develop? In unknown situations, you’ll probably want to opt for more flexibility— temporary staff, independent contractors, seasonal employees, and outsourcing. You can plan to reevaluate and create the best longer-term approach as the business grows.
Stay up to date on regulations.
Once you decide on your staffing options, you’ll need to review regulations. Create a human resources checklist to make sure you follow all the required steps in hiring, onboarding, and training—and review regulations often because they change frequently. Some payroll and HR software providers can support your business with compliance services as part of their offering.
Recruit for your new position.
Now, you need to decide who to hire. First, create a job description that reflects who your organization is and accurately describes the type of employee you’re looking for. Then, post this job description on multiple outlets. Think about popular ones, and find out if there are specialized job platforms for your industry. You may also want to post on social media and ask your current employees for possible leads.
Get ready for your first employee.
When you hire your first employee, make sure to complete these tasks outlined by the Small Business Administration:
1. Get an Employer Identification Number (EIN).
2. Set up records for withholding taxes.
3. Verify your employee’s eligibility.
4. Register with your state’s new hire reporting program.
5. Buy workers’ compensation insurance.
6. Post required notices.
7. File your taxes.
8. Get organized, and stay informed.
Process payroll.
All companies—no matter their size—have data tracking and regulatory reporting obligations. And most can save time and money by using an automated online payroll system. The right system can reduce payroll processing time and errors, perform automatic payroll calculations, simplify tax filings, and generate required state and federal reports. There are also companies that can provide financial software that includes payroll functions.
How can we help?
With Truist online banking, you can seamlessly take care of your business's banking needs.
- Easily see all your accounts—including balances, payments, and deposits.
- Stay informed about your balances, transaction activity, and changes to your accounts with alerts.
- Quickly and easily pay bills with online bill pay.
- Use our mobile app to take care of business wherever life takes you.
And use Truist Online Payroll to get one-stop access to pay your employees in a few simple steps. Employees can see their pay stubs and other documents online, and you’ll get automatic reports and the ability to download data into your financial accounting software. Plus, Truist Online Payroll helps you satisfy your obligations for federal, state, and local tax payments and filings.