I have experienced the good and the bad. My goal is to share my experience so you can avoid stress along the way.
1. Hiring without a well defined plan
Hiring for long term growth is different than getting someone in to help with a temporary backlog of work. Training costs time and money. Make sure you clearly understand how this individual will contribute to the overall growth of your company.
Taking the time to define how you want your organization to look and how you want job roles to contribute to the overall operations will help with the planning. Since hiring and partnerships cost money, you should have a well defined plan on how your investment in these people will bring in additional revenue for your company.
2. Only looking at skills and experience
While it is important to find someone with the right skills and experience, the soft skills they bring will allow you to have harmony among the team and can greatly accelerate your company’s growth.
Look at their personality fit with you, your other team members and your clients and whether their core values align with your business. For business partners, also look at their financial situation and their ability to weather the storm.
3. Not having an exit strategy
I find it difficult to enter a long term relationship when you are making a decision based on a 1 or 2 hour meeting. To remove the stress of uncertainly, I typically start the person on a small project or hire on a probationary period. This allows you to see if there is a good fit personality wise.
4. Not having expectations documented
It is important to have a clear set of expectations for the employee, vendor/sub-contractor and business partner. Since these individuals will have access to confidential information, you don’t want them taking your processes to your competitors. For complicated situations, having legal documents drawn up may be worth the investment to protect you and your business.
5. Not asking for help from those more experienced
Large organizations will typically have multi-level interviews with new hires or vendors. They understand that having more than one set of eyes review the candidates will be an investment that will pay off in the end with reduced stress. It becomes a team decision as many people will be affected by these decisions.
If you are at the stage of growing your team and you need another set of eyes to help you through the process, contact us at info@NCPConsulting.net to get clarity, direction and results for your business.