Projected growth in personnel should be presented in nearly every business plan where the number of employees is expected to grow significantly
during the years covered by the plan. In certain cases, it is also helpful to include an organization chart at different level of growth of your business.The following questions may be helpful :
- What are your personnel needs now, in the near future (3years), in 5 years?
- What skills must they have?
- Are the people you need available?
- Will your employees be full-time or part-time?
- Will you pay salaries or hourly wages?
- Certain employee benefits are mandatory. Find out what they are.
- Will you provide additional fringe benefits? If so, which ones? Have you calculated the cost of these?
- Will you utilize overtime? If so, you may be required by law to pay time and a half, double time, and/or other extra costs.
- Will you have to train people for both operations and management? If so, at what cost to the business?
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