E509: Hire Versus Train
You need more project managers, so do you train within or hire from outside.
- We all face this from time to time
- We are growing and need help
- Need some additional skillsets
- Do we train an existing employee or hire someone from outside the company?
- There are pros and cons to both to consider
- Many will depend on your situation but here are some that apply to all
- Train an existing employee
- Pros:
- Promotes company loyalty
- Improves company morale
- No learning curve on company
- Cons:
- Learning period – could take months to get the skillsets or longer
- Mistakes during the learning period
- Creates a void for that person’s position
- Pros:
- Hire from outside
- Pros:
- Immediate access to skillsets
- Can train other employees
- Cons:
- Can hurt company morale and other employees
- You don’t know the new hire until they actually start working
- Pros:
- Things to consider
- Create your own list of Pros and Cons to include the above and other specific things
- Ask yourself “can you outsource some or all the help you need?”
- Can you hire a part-time consultant to help your employee on the new project/skillset
- Can you do it from within
- I recommend that hiring outside for key roles should be a last resort