6 Oct, 2015
9 Sep, 2015
26 Sep, 2015
I see that there are many different paths an entrepreneur can take. I also think I will go on the contracting temporary worker route. As far as re-evaluating roles, I believe that this is needed, but challenging. I will have to embed this within the culture of my company. For some reason, I’m not completely sold on giving tons of equity away. Thanks Toochi for your post!
Enjoyed your post! I really like the point you make from the Tanksy article about how founders are constantly learning new competencies that are needed for a business to be successful. It is a difficult situation to be in because someone may be brought on given their given skill set, but the founder may learn that someone with a slightly different background may end up being a better fit later no down the road. Important to know the competencies needed as much as possible when first hiring someone, and anticipate any competencies that may be needed farther down the road.
Thanks for pointing out how contract labor might benefit a startup. I think that would be a great tool to have if you have a temporary void in something that needs to be completed and/or if the founders need to save on compensation in the beginning.
Also, pointing out how founders need to learn what competencies are missing was spot on. How would you hire someone if you didn’t know exactly how they would “fit” into the startup? I think that would be very difficult. Great post!
I liked that you mentioned there are short, medium, and long-range time frames for human capital. It is critical to know what you need and then act upon that need. The three R’s were also a great to mention. Relationships, roles, and rewards all come into effect for expansion and success of a business. I thought you did a nice job touching on each and how they can be beneficial and also tough to deal with.
Excellent Post. You really made it clear that hiring dilemmas is a process throughout the life of the company. One could think that if they get the best employees in the early phases then they are done. I can easily see through your discussion that this process is ongoing. Also it was important to see that equity options is a great way to offer A-Players to attract them and retain them with the company.
The ineffective management of human capital and the inability of a startup to attract and
maintain qualified personnel, all contribute to the failure of new startups every year. This intro point really helped shape the discussion. So I really see the benefit in understand what roles are needed and spending additional time understanding how to recruit and retain these employees if the company will be successful.
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