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Jul 28

E509: Hire Versus Train

You need more project managers, so do you train within or hire from outside.

 

  1. We all face this from time to time
    1. We are growing and need help
    2. Need some additional skillsets
    3. Do we train an existing employee or hire someone from outside the company?
  2. There are pros and cons to both to consider
    1. Many will depend on your situation but here are some that apply to all
    2. Train an existing employee
      1. Pros:
        1. Promotes company loyalty
        2. Improves company morale
        3. No learning curve on company
      2. Cons:
        1. Learning period – could take months to get the skillsets or longer
        2. Mistakes during the learning period
        3. Creates a void for that person’s position
    3. Hire from outside
      1. Pros:
        1. Immediate access to skillsets
        2. Can train other employees
      2. Cons:
        1. Can hurt company morale and other employees
        2. You don’t know the new hire until they actually start working
  3. Things to consider
    1. Create your own list of Pros and Cons to include the above and other specific things
    2. Ask yourself “can you outsource some or all the help you need?”
      1. Can you hire a part-time consultant to help your employee on the new project/skillset
    3. Can you do it from within
      1. I recommend that hiring outside for key roles should be a last resort
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