In our work with growing businesses, we estimate that at least 85 % of the talent challenges they face could have been avoided from the beginning.
And when is the beginning? When we talk to start-up founders, a common phrase is ‘‘We are still very young now, we need to figure out the business model and raise capital and then we will have time to deal with talent issues’
This is influenced by beliefs such as:
- The people factor is not as important as getting the model right and raising money.
- Talent management advisory is expensive and doesn’t match start-up needs (this is the gap edge closes)
- Talent strategy can be designed later on when the business has gained traction and is preparing to scale. Basically at the doorstep from childhood to adolescence.
Do you think these ideas hold water? From our experience there are more challenges waiting at the “preparing to scale” stage and you would love to avoid “childhood diseases”.
Common talent challenges in start-ups and fast growing businesses
You find yourself in a difficult situation when your business starts to grow you realize the key factor that will take it to the next big phase is talent. These ‘sudden talent needs’ may seem overwhelming especially when they come calling to be addressed at critical business seasons.
Normally it sounds like this:
- ‘I don’t think I have the right team to drive sales’.
- “We don’t have the right structures for our people to perform”.
- “Everything is in my head, all I need is time to write it down”.
- Suddenly there is need to balance between roles of manager (plan, organize, direct, monitor) and leader (inspire, motivate, influence). With little experience in both in the past this can be a daunting experience.
- The initial thought that everyone can do everything is not working anymore. There is little productivity from the team
- Need to move from a ‘plug and play organization’ during on boarding of new team members to a more standardized on boarding process. Additionally, another common need streamlining who, when and how acquire new talent which often leads to the realization that due to the past way of recruitment, a few changes may be needed.
So what can you do?
Thinking through your talent needs from the initial stages as you model your business is thus key to ensure when time comes you are ready to scale smoothly.
A few things you could think about or seek a professional talent advisor to guide you through are:
- As founders: What are our strengths as workers, as managers, as leaders? Where are our gaps as a team? Which threats arise and how can we avoid falling into these traps?
- How are my leadership skills? Where do I need to grow? What type of leader do I want to be? How comfortable will I be delegating and a growing team where I cannot control everything? How can I be more prepared for that stage?
- What strengths do I currently have in the team (skills, knowledge, experiences, individual talent; do I have creatives, implementers, connectors, systems people etc.)
- How will my business needs evolve in the next 6-1 year and beyond time? What will that demand in terms in terms of talent needs? What do I need to do / learn / test right now in order to be more prepared then?
- How do I want my company culture to look like? (think through working environments, decision making, conflict resolution mechanisms, how we talk with each other, which 4-5 values if displayed consistently will drive our purpose?)
- What will success look like in my business for me to say that my team is highly productive? How do I as leader have to act to allow this to happen?
- What criteria shall I use for my recruitment process?
- How will we set new team members up for success as fast as possible? How much time will the founders have to invest per hire?
Thinking through these simple yet much needed questions will guide you in your decisions and actions at that very Start – Up stage and if you are already growing it is never too late to start. Start today. Commit to make time! Maybe you will pack your bag, go to the beach and sit with your co-founders for a few days talking these through. Or you book a fixed 90-minutes founders breakfast for the next months.
Also, finding a trusted talent partner to walk with you in this journey is ideal: they ask you the right questions and pick up work here and there on the way.
Keep tuned get more insights on building and managing your team in a growing business.