Hiring can take a lot of money out of a small business budget, especially if it will involve getting rid of an underperforming employee first to make way for the new hire.
Are you aware of what it could cost you to hire someone? The helpful infographic below lays out many of the costs that the average business in the US will have to absorb when they want to take on a new employee.
Don’t forget you will have to pay their basic wage, contribute to their benefits and taxes and perhaps cover their expenses. That adds up and once you start including the time it takes you to manage the process, administrative costs, marketing, recruitment costs and training you are looking a big spend indeed.
Is it any wonder that small businesses cannot afford to hire right now?
