In the Star Tribune's weekly business-advice column featuring faculty experts from UST’s Opus College of Business, Dr. Jack Militello of the Management Department answers:
Q Our company is growing quickly and we are anticipating a hockey-stick growth curve within the next year. This growth will require us to hire people quickly, and I don't want to hire too many or too few. Is it better to start off with less or more human resources?
A You have an interesting dilemma. Having too many people in a start-up could create excessive overhead and personnel costs that could stunt or kill growth right at the start. Having too few would put the firm in jeopardy of not being able to serve your clients, which could also damage the company. The better question is who should you hire and when.
Read the rest of Dr. Militello's response at the Star Tribune.