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updated 10/28/2013 10:46:11 AM ET 2013-10-28T14:46:11

No matter how much technology and the ways we do business change, one thing that remains constant is that hiring is the key to growth. When you add employees, you give your business the potential to expand the services it offers as well as improve its efficiency.

Take a look at the infographic below from accounting software company Intuit for clues on when it's the right time to hire, as well as a formula for exactly how much money a vacant position is costing you.

 

Copyright © 2013 Entrepreneur.com, Inc.

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