It is also hard work and requires as much or more effort and discipline on your part than any function as a Departmental Chairperson. Faculty are rarely all they can be - either to themselves or their departments. Remember, these faculty are new to the University, your department and even the community. The way faculty depart affects not only the continuing faculty, but also their students. Don't underestimate the positive and negative responses that may arise as a result of faculty leaving.
Funds are always limited.
Establish a system for setting priorities as well as for actual requisition. Be alert at all times to the potential for loss of this valuable commodity. Cross over between related disciplines has the ability to strengthen all. Fear of cross over usually indicates insecurity and a sense of vulnerability. There are a wealth of resources, many at no cost, available.