What in the general business environment needs to be looked at before you start hiring people to work in a company?
pohnpei397 | Certified Educator
There are a number of things in the general business environment that must be considered. Two of the most important are:
- Employment laws. Before you hire, you need to know what sorts of obligations you incur by hiring. Will you be able to fire people at will? Do you have to give severance if you fire them? How much do you have to pay to the workers' compensation system?
- Prospects for future business. The most important thing to think about is what the outlook is for your business and for business in general. If the economy is going into a recession, it may not be a good time to hire. If banks are not lending to businesses, it may not be a good time to hire.