Business By The Books with Danielle Hayden The 4 KPIs You Need to Track After Hiring - Ep 163
So you took the leap and started hiring in order to grow your business or lighten your workload. But now's not the time to sit back and relax; it's vital to your business's success to monitor how hiring impacts financial performance. As we continue this hiring series, host Danielle Hayden outlines the four KPIs business owners need to consider when assessing the efficacy of their hiring decisions: revenue per employee, percent of sales, net profit and overhead rate. She details how to track these key indicators and then analyze them, ensuring your business continues to thrive with the addition of new hires.
Tune in to learn how to leverage these four KPIs and make informed decisions for your business!
Key Takeaways:
-
Business owners need to understand the numbers in their business in order to make strategic decisions about scaling up or down their workforce.
-
There are four essential KPIs for evaluating financial health and hiring needs: revenue per employee, percent of sales, net profit and overhead rate.
-
It's imperative that business owners consistently review key KPIs to adapt and align their business growth strategies with the season of their business.
Topics Discussed:
Introducing Emily's story: a tale of rapid growth (1:44)
Four critical KPIs and why they're important to track (3:48)
Utilizing KPIs to make informed business decisions (8:16)
Emily's decision to change her business structure (13:05)
Resources:
Listen to episode 158: Healthy Spending Habits for Financial Success In Your Business -
Listen to episode 114: What To Do When You Are Operating In The Red –
https://kickstartaccountinginc.com/what-to-do-when-you-are-operating-in-the-red-ep-114/
Connect with Kickstart Accounting Inc.:
Instagram | https://www.instagram.com/Kickstartaccounting