Recruiting the team that will guarantee success
Outside of getting your idea right at the outset, recruiting the right team has to be one of the main areas of focus for an entrepreneur. As the ‘ideas’ person and founder of the business, you must be acutely aware of your own personal strengths and weaknesses and build a team around you which is greater than the sum of your part – don’t expect this to happen straight away, it takes time and understanding to make this work. Ideally, you should look to build a team that can organically grow with the businesses and that can contribute to the growth of a company through both expertise and passion for the business. Your team should be flexible and agile, but also share the same ideas as your company mission. There are four critical aspects to consider when building your business and that is how to attract, recruit, retain and motivate the right staff for your company. Never underestimate the importance of an efficient and objective recruitment process. Often recruitment companies, if you partner with the right one, can add immense value where you may only see cost.
The first step in initially attracting the best talent to your brand can be achieved by punching above your weight. This is not to say that you should pretend to be something that you are not, but always shoot above the mark when looking for new employees. Create an aspirational working place – a lot of time went into the thought process behind PMGC’s location, benefits and packages. By offering the ‘big company’ feel with the benefits of a smaller, entrepreneurial company you can truly attract the best talent to your budding enterprise.
When it comes to recruiting for new position ensure that you are looking for people who will strengthen the weaker parts of the business. As an entrepreneur, you tend to develop your business around your personality, so building a solid team is vital to separating your personal vision from the operational side to the business. A new recruit should be willing and able and someone who shares your desire to see the company, and themselves, succeed.
Motivating and retaining the right staff is a challenge faced by every company. Luckily, new businesses have an advantage in this area. As a small team develops and grows, there are greater opportunities to involve staff in playing an active role in contributing to the company growth and consequentially creating a positive working environment where everyone is working to a common goal. Some initiatives we have kicked off include a leadership team meeting – which is chaired before the executive meeting and allows staff members to put forward their thoughts on how the company can improve both through internal policies and with regards to new business opportunities. Don’t be tempted to throw equity at everyone either – often many employees will not fully understand the true value of equity, and hence it won’t have the effect you are looking for.
Training is of course crucial to building up your team and ensuring that they grow as the company itself grows. Providing these opportunities within a framework of clear progression and levels will help keep staff excited and challenged by their work. Investment in training will also help employees to feel that they are a valuable part of the business, encouraging them to input ideas to facilitate and maintain growth.
Lastly, understanding the needs to the individual cannot be underestimated. Find out from the start what your new hire would hope to achieve from working at your company, and if they fit in with the company’s values then ensure their experience in the workplace is tailored to their aspirations and needs.
At the end of the day people are the lifeblood of a business so ensuring that every employee enjoys their work and feels valued in their role is fundamental to retention and the ensuing expansion of an organisation. Remembering these key rules and recruiting the right people will help lead a company to success.
This was posted in Bdaily's Members' News section by PMGC Technology Group .
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