Monday, November 17, 2014

Smart Entrepreneurship: To Hire or Not to Hire Friends

When it comes to hiring friends, most employers often become hesitant. On the employer’s part, it is quite hard to manage and protect the friendship while still incentivizing task flow.

An expert in in the business industry shared his own experience with his friends and family relatives who are likewise become his colleagues and partners in business. His experience is quite good. For him, it is a common sense to do business with those you love and trust the most. He believes that if your values and home and in business or work are the same, there is nothing to fear.



However, not all people might disagree with the idea of hiring friends in business because not every friend is the right friend to hire.

Here are some of the things to consider before making job offer to a friend:

Hire Good Family Relatives Only

The success of business lies on the people you hire. A business expert suggested one important hiring philosophy, “One great person is equal to three good people” when it comes to business productivity.

Apparently, the same philosophy applies in every hiring situation – even when hiring family and friends. Come to think of it, if you hire a great person, there is nothing to worry about being slacked off. Also, you won’t need to provide extra incentives for them to work hard. In fact, they will be very passionate, so energetic and eagerly fanatical about the business and their contribution in growing the business and bringing it to success. It’s a guarantee that they will work even harder for the company.

Open Connection

One of the basic foundations in many companies is leadership. However, there can be no leadership without trust, and there can be no trust without open communication. Experts claimed that when hiring a friend, it is most important to set clear expectations for productivity right from the start and discuss what success looks like after setting your specific goals. This is to ensure that there should be a mutual respect and understanding between the two of you.  

Once in a while, be sure to have a “touch base” meeting to discuss each employee’s job performance. During the meeting, encourage them to share any challenges, queries and concerns that they encounter with their tasks and with you as well. Doing the same on a regular basis is recommended particularly in young companies.

In addition, it is also advisable to conduct a formal every other month, six-month and annual performance review.

Work and Play

That overwhelming emotion of having someone you already like and respect as your business partner is an awesome feeling. But don’t worry, as an employer, you don’t really have to draw a clear line between your personal and professional relationship in order to keep both worlds healthy. It’s just a simple logic, if you love what you do, then hiring a friend doesn’t always mean you’re driving each other apart, but instead, you are strengthening and deepening your relationship.

RESOURCE: http://www.entrepreneur.com/article/238796 

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