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The Different Facets of Employee Management

Getting the right fit with your small business employees

Whether you are a new business owner or an established one you most probably have employees or are going to need some unless you are simply running a self employed business.

How you hire, and handle your employees can make a big difference to the success of your business.  Having employees comes with a lot of responsibilities.

Don’t forget that you have a lot of extra paperwork when you have hired staff which includes your tax responsibilities for them which is part of your payroll.   You want to be sure to talk to your small business accountant about setting up your payroll and that the proper accounting procedures are in place.

As a new business owner how do you go about hiring the right staff?   Chances are you will have a few friends and family that want to take up a position in your new company.   There is nothing wrong with this, and in fact it may be advantageous to you from a tax point of view to use family members.   This is something else that you can discuss with your accountant.

At the same time, you want to be sure that if you are hiring people that you know that you and they are able to separate business from personal. Otherwise you are opening the door for a whole gambit of problems.

Before you start the hiring process you need to look closely at what your Company needs.   You need to clearly define the job position that needs filling.  Once you do this you need to design a detailed job description.

This is going to be your guideline for first advertising for help then conducting the proper interview that is going to give you the information you need about the applicant as it pertains to the position.

If you don’t have any experience at hiring then this is going to be a new adventure for you.   You are going to have to develop some interview skills. You want them to be short and to the point but long enough that you can glean enough information to make an evaluation.

Try not to hire on the spot, because there is information in the job application that you are going to need to follow up on.   It is pretty hard to fire someone before they even get started because you discovered their information on their resume wasn’t accurate.

Keep in mind that once you hire someone there are rules and regulations that you are going to have to follow.   Also, a big turn over in staff is costly and time consuming.   So you want to get your hiring process right the first time.

 

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Sam Seidman, CPA, CA, LPA
629 Sheppard Avenue West
Toronto, Ontario
M3H 2S3

Telephone: (416) 398-1700
Fax: (416) 398-6226

Chartered Professional Accountant, Chartered Accountant, Licensed Public Accountant

Email: sam@torontoaccountant.ca

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