Posted by admin on July 02, 2019 in

Summary

In an ever-evolving and competitive market, companies need to set themselves up for growth from Day One. Most are unsure how to do this.

As they grow, the culture that was once their beating heart, starts to fragment and dissipate, and with no definable culture, attracting talent becomes a more difficult task. The problem is often compounded in fast-growth start-ups, where time and money are usually in short supply.

Collectively, organisations recognise the need to recruit and keep the best – engagement and retention have been at the top of the HR agenda for many years. Yet it remains a perennial challenge for many to solve.

So why does this happen, and is there a better way to ensure that businesses not only hire the best staff, but that they stay long-term?

The HR Secrets of Fast-Growth Companies looks at how organisations can create a different kind of recruitment process to enable them to hire and retain the talent they need for growth.

For many companies, both established and start-up, finding and retaining skilled, qualified staff is a constant and ongoing battle that’s only getting tougher.

Despite the obvious need for a ‘talent strategy’ that ensures the right people are in the right positions at the right time, it is something many high-growth companies struggle to achieve.

It is a phenomenon that reaches across all sectors, from retail, financial services, marketing and FMCG (Fast Moving Consumer Goods), through to construction, engineering, automotive and IT.

Bad hires are bad for business

The effects of poor hire are far-reaching, having an impact not just on the day to day effectiveness of the company, but on its ability to deliver projects on time and to budget.

For fast-growth companies, the adverse impact of bad hires is magnified, given the critical need to scale up the business quickly. To complicate the picture still further, the fast-moving nature of the tech sector in particular means that recruits not only have to be at the top of their game in terms of technical skills, but must possess the flexibility and robustness to be comfortable in an environment that is hardly ever ‘business as usual’.

A new approach

Using an engagement model that is built around a ‘pyramid’ of three phases, there is much greater chance of attracting the staff you need and keeping them.

Phase 1 – Strategy and Planning

At the top comes strategy and planning. This is in many ways the most important phase, since without an over-arching recruitment strategy, there is a real danger that you will not be able to attract, or keep, the best talent.

Phase 2 – ‘Internal’ Processes and Systems

If an organisation is to build capacity quickly, without undermining itself in the process, it requires a set of unified policies, structures and systems to enable the strategic goals of Phase 1 to be implemented.

In other words, every employee, existing and yet to be recruited, must know and understand why and how the company does what it does, and where they fit into the scheme of things.

Phase 3 – Recruitment Delivery

For a fast-growth company, recruitment delivery is the largest and most extensive phase, encompassing as it does three key components: cultural profiling, employer branding and the hiring process itself.

  • Cultural Profiling
  • Employer Branding
  • The Hiring Process

The way forward

People make an organisation or company. This is a simple truth, often ignored, frequently during critical phases of growth. In fact, having a people strategy in place should be an integral part of your growth plan, not just from a business planning point of view, but to reassure investors, strategic partners and of course high quality staff, that you have confidence in the organisation’s future growth prospects.

So, as the Australian employment market continues to tighten, it is increasingly important to run an efficient and cost-effective recruitment process. Even more importantly, your thinking and your processes need to include the pro-active management of your employer brand in the candidate marketplace.

Fiona Parker

Executive – Consulting Services

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