When it comes to running a successful startup, it is crucial to hire the right people for the right position and at the right time.
It is essential to treat the hiring system very systematically and carefully.
Like Yevgeniy Brikman of Gruntwork says;
“Choose the first 10 employees very carefully, as they determine the next 100”.
There are many bloggers out there, sharing their insights on hiring the perfect team for your startup.
In this article, we’ll be educating you on the importance of having a strong team in your startup, and the steps to follow.
And also you’ll be learning the tips to build a core team for your startup and the magic formula to retain them. As we all know, 2020-21 has been a rough year for all, and the employee attrition rate is almost 31% this year.
We bloggers try to keep you informed and give out information what we extract out of observation from their organizations. This will be completely relatable and your hiring manager can easily resonate with the tips and tricks.
Importance of building a strong team for your online startup:
These are the five points that could serve as the foundation of how important it is to find the best talent for any startup;
- Strengthening the internal team and the external parties of your business.
- Each employee represents your brand and your organizational culture.
- The team members will share their thoughts and perspectives on a problem based on their expertise.
- An employee could contribute to the long-term growth and excellence of the organization.
- An organization must consider the stability of the person they hire, instead of concentrating on the short-term turnover. If the employee is eager to learn, stable with his thought and action – the turnover can be achieved for the long term.
Steps to follow to hire a perfect team for your online startup:
These 5 steps could answer the question, “How do I find the right team for my startup?”.
Keep a close eye and follow the steps to hire the team of your dreams for your business.
Step 1: Find your strengths and weaknesses
As the founder, it is essential to know your strengths and weaknesses – both personally and professionally. Why do I have to know my victories and shortcomings you might ask!
As a person who’s in one of the managerial positions, you’ll be questioning the decisions and actions taken by your subordinates. Therefore, they serve as a mere representation of your thoughts.
When you straighten up your shortcomings within yourself, there will be a space to grow and embrace the shortcomings of others without judgment.
Step 2: Identify the Key Managerial Personnel (KMP)
The personnel who hold the hierarchical power are the key hire of the startup.
As the founder of your organization, these key managerial personnel is going to be the core decision-makers in their respective departments. They’ll be serving as the eyes and ears of your organization.
- Chief Executive Officer or a Managing Director.
- Chief Finance Officer.
- Chief Marketing Officer.
- Chief Operations Officer.
- Chief Technology Officer.
They’ll be in charge of hiring the right fit for their respective teams.
Step 3: Be precise about your organizational culture.
As the founder, it is your responsibility to work on the culture outline in which your startup will be functioning. The business ethics, the morale, the values to uphold while bringing in customers have to be framed.
Each department head who is the expert in their respective fields can guide you to come up with the functionalities of running their teams.
The process of organization culture has to be one of top requirements in starting any online business. The mission, vision, and objectives of the organization must be met with each department’s output.
Step 4: Training > Experience
It is important to understand what roles in your startup need expertise and training.
It is one of the common mistakes that every business owner makes. They would want years of experience for a low-cadre job with a lesser salary in the market. This could tarnish the name of any organization.
Training triumphs experience. Yes, experience does have its advantages. But moving too forward with experience might lead to less receptive employees to the changing needs of your niche.
Step 5: Constant Assessment.
You hire someone based on their papers (degree or knowledge, extra-curricular, speaking skills, volunteering, etc.).
But an employee should be more than just the papers they presented. Assess their caliber and put them in a situation where they can outshine.
And, of course, there is a line between assessment and harassment.
If your employee has the constant fear of losing a job that he/she couldn’t outperform despite the circumstances, the stress will reflect in their output.
Have stages of assessment, and give enough time for the employee to catch up to your startup values.
And it is even better to not have standard assessment techniques for a long time.
Tips to build a strong team for your online startup:
- Any employee should have a work-life balance. Any employee should not have to choose between money or his peace of mind.
- Having a constant assessment metric could make it predictable and, in turn, makes the employee lethargic. It is important to update in all aspects of running a business.
- If an employee feels that his outputs are not valued, the organization is in serious trouble. Therefore, as a leader, it is important to make sure that every employee has the space to think and grow in the organization.
- When an employee brings in something new to the table, make sure to listen before dismissing it without consideration. It is essential not only for the employee but also the business to improvise and adapt to the changing circumstances.
- Hire with power, fire with a conscience. An organization has to give the same attention and scrutiny for both the hiring and firing process.
- An exit interview is a must, and talking with the department head can educate the person on places to improve.
- There are even some software to help you with the hire process. Utilize them to the fullest extent.
Running a business smoothly without any friction is what any businessman would want. This could also be achieved with having a strong business plan.
For this to happen, your team must be walking towards an ultimate goal with you. Rather than just clashing within the path which might cause a ruckus.
I hope these steps and tips helped you think about what perfect hiring could mean for your startup. Cheers!