When you are growing a small business, there comes a point in time when you need to decide how you are going to grow and scale it. A major part of this comes down to how will you engage the right people to do it. The question must be asked; will you hire your own auxiliary staff or use a serviced office?
The Big Question – To Hire Auxiliary Staff or Utilise Serviced Offices?
There are many things to weigh up when deciding which way to go. If you decide to hire your own auxiliary staff, then you get to choose who you employ. But hiring employees can be a tiresome and a long-winded process; not to mention expensive. There are recruitment agencies you can engage to do the hard yards for you. But is that a cost you want or can afford?
When it comes to hiring auxiliary staff, the costs involved can seem endless:
- Wages
- Tax
- Superannuation
- Workers compensation
- Public liability insurance
- Additional costs to cover your original staff member during annual leave and sickness
And that’s just the direct costs. You also have:
- Office space
- Computers
- Technology
- Furniture
- Phone systems, and the list goes on
Then on top of all of the above, you need to manage your employee’s performance and deal with any challenges that arise. This person is representing your business and brand to your clients, so you want to ensure they put their best foot forward always.
Would a Serviced Office Solution be a Better Fit for You?
On the other hand, if you use a serviced office there are many things you don’t have to worry about.
- No commercial leases; quite often you aren’t even locked into contracts at all
- All of your furniture is supplied and you have the latest in printing, scanning and other technologies
- You also won’t have employees to manage directly as this is done by the serviced office management
- You are only charged for the space or services you use
Just bring your computer and plug it in. It really is that simple! And if you need more support during peak times, holiday times or growth then that can be accommodated easily and efficiently as well.
A lot of people don’t realise that serviced offices can look after all your needs too. Just like at SOI, a serviced office can be a lot more than just an office space. Our services also include:
- Meeting rooms
- Boardrooms
- Catering options
- Fitness classes and teams
- Childcare
- Whiteboards, projectors and the latest technology to streamline your meetings
The important thing is to investigate more than one serviced office facility when you are deciding whether to hire auxiliary staff or utilise a serviced office. Like anything it’s not a one size fits all. So what suits one business and business owner might not suit another. Location, vibe and so forth can play a big part in whether you have found the right fit for you.
Weigh Up Your Operating Costs When Deciding Whether to Hire Auxiliary Staff or Utilise a Serviced Office
A serviced office can be very cost effective. More so than what people expect. It starts with only paying for the space you use. It’s all wrapped up into one cost – power, phone lines, internet, heating/cooling, office furniture, etc. Then if you occasionally need a meeting room or boardroom then a serviced office normally has meeting room hire options too.
Also, during busy periods, you may need extra support staff so rather than going through the hassle of hiring temporary staff, a serviced office has staff on hand to ensure your needs are met. This is a great way to keep operating costs to a minimum.
Finally, the last thing you want to be doing is paying staff to sit around not being efficient. If you also include the time it takes to manage staff, then that’s another cost too. And we all know as business owners time is money so that’s an additional cost you need to consider.
Auxiliary Staff Training – Another Aspect to Consider When Deciding to Hire Support Staff VS a Serviced Office
When you hire new staff, you will obviously need to train them and support them while they get up to speed, to then allow you to concentrate on what you do best. With a serviced office they have support staff that are used to working across a range of businesses and tasks. At SOI, our staff is constantly receiving ongoing training to better serve our clients; just another aspect you don’t need to worry about when outsourcing your auxiliary staff.
Upfront Costs and Cash Flow for Small Businesses
When you hire staff, you will need to pay upfront costs to organise things like desks, computers, phones, internet access and printers etc. As a small business in a growth phase cashflow isn’t always at hand. So, this is an important factor to consider when deciding to hire staff or utilise a serviced office. With a serviced office all of this is accounted for in your fee. Always check with the serviced office you are going to utilise, though, to ensure there are no hidden costs. We can only speak for ourselves here at SOI, that we are very upfront about what we include in our client packages.
It’s Time to Focus on Your Business and What You Do Best
At SOI we offer various sized serviced offices with the support of our friendly team. We want to ensure your business stays connected easily to allow you to better serve your clients and do what you do best. While also giving you the opportunity to connect with other businesses to grow your network and allow you to be more productive with your time.
Please contact SOI today to find out the benefits of using our serviced offices and team without the hassle of having to hire staff yourself!
