))
#17 - Can You Afford to Hire an Employee?
Manage episode 423010737 series 3479072
Content provided by Cal Wilder. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Cal Wilder or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Healthy businesses have an established business model in which most new incremental hires produce profit for the business. Payroll expense can be viewed as an investment that yields a profitable ROI. Usually a hiring decision boils down to a question of how much more revenue do you need to sell in order to afford a new hire. This episode helps answer the question of whether you can afford to hire an employee.
More specifically, this episode includes:
- Viewing Employees as Profit Centers
- Return on Investment vs Affording a Hire
- How Much Do You Need to Sell to Afford a Hire?
- How Much Does a Salesperson Need to Sell to Pay for Themself?
- How Much Must the Business Grow to Hire a Manager?
- Labor Value Multiple
- Forecasting; Fixed & Variable Costs
Download the employee Hiring ROI Workbook using this link
Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.
Thanks for listening!
Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/
Chapters
1. #17 - Can You Afford to Hire an Employee? (00:00:00)
2. Employees as Profit Centers (00:01:02)
3. Return on Investment vs Affording a Hire (00:03:44)
4. How Much Do You Need to Sell to Afford a Hire? (00:08:36)
5. How Much Does a Salesperson Need to Sell to Pay for Themself? (00:20:03)
6. How Much Must the Business Grow to Hire a Manager? (00:22:29)
7. Labor Value Multiple (00:25:33)
8. Forecasting; Fixed & Variable Costs (00:32:11)
26 episodes
Share
