A common misconception among business owners today is that they neither have the time nor the resources to devote to hiring; however, this is an extremely dangerous mindset. By not bringing new staff on board and essentially forcing your current team to do more with less, you are actually hurting your business. Understaffing can be a huge problem, negatively impacting your company’s ability to operate at maximum efficiency and meet production goals, as well as costing you money in the long run.

Many companies that feel forced to resort to understaffing do so because of the initial cost savings, not realizing the many hidden costs associated with understaffing.  Some of the most common hidden costs due to understaffing include:

  • Productivity. Attention to detail becomes lost when overwhelmed employees are constantly under pressure to deliver. This is where most mistakes are made. Not only does an influx of mistakes cost your company money, it also results in unhappy customers.
  • Employee stress and morale. When employees constantly face fast-paced and rigid deadlines, it is only a matter of time before they will begin to feel burned out. While this certainly takes a negative toll on productivity, it can also end up costing you more in healthcare expenses, workers’ compensation, and paid time off.
  • Turnover costs. If employees are constantly stressed and unhappy at their place of employment, chances are, they will begin to look for work elsewhere. Losing and ultimately replacing quality employees is highly costly and counterproductive to businesses, both in resources as well as time.
  • Inability to grow as a company. When a company struggles to handle its current workload, taking on any new or exciting opportunities is out of the question. Stunted company growth can also take away time to dedicate to networking, brainstorming, and generating leads for new business, ultimately causing your bottom line to suffer.

Companies facing understaffing issues have a lot to lose, but this doesn’t have to be the case. Working with a recruiter to develop a strategic staffing plan to make necessary hires will pay off for your company in both the short and long term. Proper utilization of contractors has been an enormous help to many companies of various sizes facing staffing shortages by pulling them out of the understaffing hole before it becomes too late. If you are in need of top energy staffing services, do not hesitate to contact FootBridge Energy today!