Hiring your first employee is always an exciting step in your business growth and development. Up until now, you may have been doing everything in a solo capacity, whereas for others, solo business owners may have turned to outsourcing any additional services needed.

When the time is right, hiring your first employee is that stepping stone the business needs to grow further. Here’s everything you need to do when hiring your first employee.

Image Source

Be sure to have a tax id number

To ensure everything is very much legal and to the book, you’ll want to ensure you have a tax ID number. In some situations, your business might not need this but it’s essential that you have it when it comes to hiring staff.

If you don’t, then chances are, you could get yourself in a lot of trouble with the IRS. Even if your business doesn’t need a tax ID number, it’s well worth getting one. The process is relatively fuss-free and anyone new to handling business taxes will be able to apply for this tax number very easily.

You’ll just need an LLC ein number application to get the ball rolling!

Assess your finances

It’s important to be aware of your finances when it comes to hiring an employee. The cost of an employee isn’t just the wages you’ll pay them but any pension and tax contributions you’ll need to make. On top of their wages, you might want to think about bonuses and additional perks within their employee benefits package.

There’s a lot of finance that comes with hiring an employee, which is why it’s essential to do a realistic and accurate assessment of your finances as a result.

Know exactly what you want in the job description

What is it that you want from the employee? It’s highly important to consider what you want so that you can make the job description as accurate and concise as possible.

At the same time though, you don’t want to put in too much fluff or confusing language that is going to put off a perfectly suitable candidate. 

Be aware of how the job description may influence the people applying for the role and be descriptive and detailed where it’s necessary.

Be properly insured

Insurance is a really important part of running a business. It’s something you want to make sure you’re ticking off when setting up a business and more importantly, when you start hiring staff. Whether you work remotely, in the office, or within a hybrid setup, having the right business insurance is crucial.

After all, you are responsible for your employees, so it’s important to make sure you’re properly insuring your business for any eventuality.

Make sure onboarding is done correctly and efficiently

Finally, make sure that the onboarding process of hiring employees is worked on prior to them starting. It’s a crucial stage within the recruitment and if it’s not done correctly, then you’re likely going to find yourself chasing your tail trying to train the staff member further along.

Hopefully, these tips have given you enough information needed to make sure your first hire is a successful one!