Having just come back I would say hiring a car is a necessity if you want to see anything more than the resort. Resorts are small, but half an hour in a car will get you half way across the island, parking is plentiful at resorts and free, we only paid in Mahon.
Driving there is really easy and unusually for Spain signposting is excellent, if you can get a new map as all the road numbers have recently changed.
Place name signage tends to be in Menorquian and maps in Spanish, although they are quite similar you just need to be aware of the differences.