As a small business owner or CEO, having the right staffing plan is critical.  This can be translated into a number of situations everyone should learn to recognize and work to mitigate.  We regularly find situations where the growth of the business may require an upgrade in the skill sets and positions, but for one reason or another this does not happen or is just not a priority until it starts to impact the business and reaches a crisis level.

The first step is to assess your business needs, including the projected growth of your business. Do you hire for today's needs or, if your business is on an accelerated growth trajectory, do you consider how your staffing needs will be affected by this growth?  It is important to conduct a periodic review as your business grows. 

One of the common decisions encountered in today's market is whether to hire a Controller versus a Chief Financial Officer (CFO).  The CFO and Controller play important roles in ensuring the financial health of the business.  A common misconception is that these two roles are interchangeable, but in reality their duties and responsibilities differ substantially. Not all businesses can afford both positions, so companies often have one position that includes the responsibilities of both jobs.

The Controller supervises the day to day supervisory of the accounting department.  They ensure the accurate and timely input of accounting entries, implementation of internal controls, and maintenance of the accounting systems and the preparation of required financial reports. It's also their responsibility to ensure tax compliance and assist the human resources team with the payroll activities.

The CFO's responsibilities have evolved over time and include the ability to see the big picture and be forward thinking.  They are charged with acquiring and managing the financial resources of the business, understanding and mitigating the risks associated with them.  Overall, this position is a strategic partner to the business owner/leader.  They need to be aware of all the financial aspects of the business.  They have to work closely with their accounting team to acquire a deep understanding of the financial reports.  They use this knowledge to direct the strategic planning for the business.  They also oversee merger and acquisition activities and advise the leadership if these are economically advantageous.  The CFO is normally a member of the leadership team and works very close with the CEO. The CFO position has evolved over time and in most companies, large and small, is considered a strategic partner to the CEO, as they help drive profitable growth for the enterprise.

Once you've decided what position to hire for your specific needs, your staffing actions should be elevated to one of your top priorities.  A well-executed staffing plan involves recruiting, hiring and training the most qualified people to help drive your strategies and grow your business.

The recruiting process starts with a well-written job description and job posting. Often the candidate's first impression of a company is the job description.  A well-written job description should clarify the expectations and responsibilities for the new hire.  It should be as specific as possible, but it does not have to be all-encompassing.  A well written job description can ensure that you attract the right candidate and should help discourage unqualified candidates from applying, but a poorly written one can discourage top candidates from applying.

Beyond the hiring process, ensure you dedicate sufficient time to the on-boarding and training processes.  During the critical period of on-boarding your new hire, the job description facilitates the conversation between the manager and employee and can help ensure the new employee accelerate their contributions to the business and set the stage for the performance assessment phase of any employee.

It's evident that the staffing plan for any business needs to be well-conceived.  It's not about having people doing a certain job, but having the right jobs for your needs, the right job descriptions or expectations, the right people and an effective on-boarding process.  The establishment of an effective hiring process facilitates the performance assessment phase, allowing you to ensure that you have the right people in the needed positions.

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