What do Google, Uber, LinkedIn, and Microsoft have in common?
Probably more than one would think, but, most importantly, all four began as startup companies – and all four companies had the right people in the right place when their businesses grew.
We can’t guarantee these tips will take you to the top of the hypothetical growth leaderboard overnight, like Google or Microsoft. However, understanding the importance of placing the right talent in the right roles before you begin the scaling process will provide countless benefits for your organization, regardless of size. According to McKinsey & Company, companies with successful talent alignment outperform competitors 2 to 1.
Determine Your Important Roles Ahead of Time
Make sure you understand which jobs will play the most critical roles. Identify what a candidate needs to succeed in the position (i.e., skills, education, personality traits) and search your talent pool for those requirements.
It’s also important to consider your company culture. Regardless of how a candidate looks on paper, not everyone will be a great fit for your office atmosphere. Trust your gut on this one.
Don’t Rush the Process
As the head of a growing business, you’re likely “wearing all the hats,” so this one is tricky.
Consider, however, the long-term benefits of taking the time to hire the right candidates – the most important of which is knowing you made the right decision for the sustained health of your business.
On the other hand, don’t wait too long to hire key leaders, or you’ll find yourself in a crisis. Develop a plan to hire these C- and D-level positions, then stick to it.
“In 2019, top-quartile companies (in ethnic and cultural diversity) outperformed those in the fourth one by 36 percent in profitability,” reported this study.
Introducing diversity to your team can bring about depth in perspectives, more profitability, and higher productivity. And not only does it translate to more business success – studies have shown diversity is a factor sought out by candidates.
And once you’ve found the right people…
…Keep Them with You
There are dozens of ways to maintain employee engagement, but consider the following as you expand your business:
- Creative referral or benefits programs.
- Provide regular employee training.
- Paid time off for reasons other than vacation – consider maternity leave or sabbatical for your oldest team members.
- Quarterly or monthly employee reviews.
No matter where you are in the scaling process, working with a staffing and recruiting partner can provide value in several ways. Whether helping accelerate your hiring or freeing you to work on your top priorities (i.e., growing your business!), Collaborative LLC is here for you – contact us today to see what we can do for you.