Should you hire?

First, consider the nature of your business and the trend of your work flow. Are you seasonally busy or do you have a sustained increase? If you are very busy now but might not be in a few months, a temp may make more sense. Also, consider that initially hiring an employee will add to your workload due to the time needed for advertising, interviewing, hiring, and bringing the new employee up to speed. Another consideration is the cost. Do you have money in reserve to pay for a new salary and benefits for the upcoming year? If you have sustained growth and some money free for hiring, it may be time to add to your ranks.

Once you have made the decision to hire someone new, it is vital to plan out the process before you start. Have questions ready that you want to ask and carefully consider the salary range you're willing to pay – and stick to it. Consider how a candidate will fit in with your team. Remember to check references thoroughly. Hiring the wrong person, even if they are an at will employee, can be a frustrating situation that can be costly in terms of your time and financial resources.

Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.