Fully-Featured Hiring Plan
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Easily Adjustable
Enter job title, annual salary, and starting month for each person hired
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Plan Responsibly
Confidently hire your team based on your spending roadmap
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Sample Plan Included
Comes pre-filled with default hiring plan including timing and cost for each person hired
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Budget Your Benefits
Enter assumptions for taxes, insurance, and annual raises
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Full 36 Months of Data
Automatically projects out three years based on your plan, including headcount and effect on P&L
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Everything You Need
We've included links to articles, salary estimators, and more
Instructions for Creating Your Hiring Plan
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Only fill out the cells shaded in blue. Everything else is calculated for you.
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Change job titles as needed. You can also write people’s actual names in where appropriate.
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Enter the annual salary in thousands, so type $75 if you mean $75,000. Skipping the extra zeros keeps your hiring plan easier to read at a glance.
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Enter a start month between 1 and 36 (three years)—or leave the start month zero to not hire that position.
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You can change the Cost Type if needed (but don’t tell anyone I let you edit something that wasn’t blue).
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You’ll see the monthly cost displayed as a green line for each filled position.
Get done what you've been putting off and square away your hiring plan.
Guaranteed to take 30 minutes or less.
Limited Time Offer for Product Hunt users (free download)
FAQ
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Q: How do I know how many people to hire?
A: If you’re currently two people and you’re trying to interview and onboard four new team members in a month, that’s simply not realistic. Take a moment to spread your hiring out over multiple months.
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Q: How do I know how much money to budget for individual salaries?
A: Founders often underestimate what they need to pay to hire people, especially in 2021. It's true that startups can use equity / stock options to reduce the salaries of key team members, but everyone needs to eat and pay their rent. If you need some resources to help check out: Robert Half Salary Calculator (Scroll down to the Salary Calculator section) and Leapros 2021 Interactive Salary Guide (Includes both location and company size).
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Q: Are we hiring the right number of people?
A: One of our favorite metrics (which we've built into my free Financial Projections Canvas) is Average Annual Revenue per Employee. To calculate it, we divide the Annual Revenue by the Number of Employees at the end of the year.
For example, if we're expecting to have $1 million in annual revenue and 10 employees in month 12, that would give us $100,000 in Average Annual Revenue per Employee. If we're expecting to have $2 million in annual revenue and 10 employees in month 12, that would give us $200,000 in Average Annual Revenue per Employee.
We expect most companies to eventually fall into the $200k to $500k range for Average Annual Revenue per Employee. Don't worry so much about year 1, especially if you're raising money to hire more people than you could otherwise afford. But by year 3 of your startup financial projections, you may want to fall into the target range of $200k to $500k.
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Q: Are we hiring the right roles?
A: We included some job title suggestions in the Hiring Plan, but specific recommendations are beyond the scope of this article.
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In short, we need to hire for:
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Sales & Marketing
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Product Development
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Customer Service and possibly Onboarding / Fulfillment
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Management, Operations, Finance
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Legal and Human Resources (HR), especially as you get bigger
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Find people who have done this before—in your industry—and ask them who to hire. Have them sanity-check your hiring plan.
