Episode 358 – Keeping Talent You Can't Afford
Today we’re talking with Jason from NAE Cleaning Solutions!
Jason has an employee he is interested in bringing on full time. Currently, this employee works part-time for him and full time for somebody else. Jason’s question for Cleaning Nation is, does it make sense for him to bring on this employee full time?
The first step is to see if hiring this employee makes financial sense. Jason’s cleaning company makes $14,000 a month, which means he has approximately $4,200 to pay in overhead costs per month. To bring this employee on full time will equal almost all of Jason’s overhead.
The second question to ask is, does bringing this employee on full time meet Jason’s overarching company goal? For example, if Jason’s goal is to expand to a new area, but bringing this employee on doesn’t move him closer to achieving that goal, it doesn’t seem like the right time to bring him on full time. If Jason’s goal is to attract more clients and this employee has a track record of doing so, then it could be the right time to bring him on full time.
The third question to ask is, can this employee help him achieve his monthly revenue goals? If Jason wants to make $50,000 per month in order to be able to afford to bring this employee on full time, then he can offer his employee compensation as they grow. The other option is to offer him ownership.
To bring on a full-time employee, it is essential that you first crunch the numbers and ensure that bringing them on will bring you higher profits. Then, decide if that employee can help you achieve your long-term goals and how you can compensate them along the way so they can continue working with you.
Best advice you’ve received either personally or professionally?
Stay consistent, trust the process and you’ll bear the fruit.
What’s the biggest mistake you’ve made in the cleaning business we can all learn from?
Not having the confidence to go after big fish.
What is your favorite book?
The Four Hour Work Week by Tim Ferriss