Do you Need a Senior Management Team?

A senior management team can help you run your business and make sure everything is working as it should. This can be very reassuring for you, although it is also going to cost a lot of money for your wage bill, as these people need to be very senior and experienced.

So does the cost balance itself out? It largely depends on the nature of your business, but also on how much experience you have and how much of an active role you plan to take in running your business. For directors who don’t want to be involved in managing as well, a good senior management team is essential. You must make sure you trust the people you hire and that they have plenty of experience, or have worked for you for a long time. If you manage the business yourself, you may not need a management team in place.