Every business wants to grow. Whether that means taking a business from the home office to a storefront or growing from $ 100 million in revenue to what Henry Kim reiter to as "unicorn club" status, growth is the goal. The success of a company's growth has less to do with product design and marketing campaigns and more to do with the people you hire.
Hiring for business growth is dependent upon your goals and your starting point.
The Early Days
In the early days of business growth, from the idea of business development to the $ 20 million mark, you need a certain type of employee to help you grow. Your business needs enthusiastic go-getters who are willing to put in extra time and do a little bit of everything. These hires will believe in the company's goal and mission and be willing to work hard to help achieve initiatives. Often, these employees are younger or have less experience in the industry which means they may grow right along with the company.
The Middle Years
Your business is past the start-up phase, and you're working hard to reach $ 100 million revenue. Hiring at this stage is about turning the business into a well-oiled machine. This is the point where departments and department heads are born. Hiring is about finding the right executive to lead the varied teams – HR, marketing, IT, and finance. The people you hire will need to have experience in the position but also within the industry. Kim recommends recruiting from your successful competitors to find the best people.
The Pinnacle
Th "unicorn club," a business with $ 1 billion or more in revenue, is the rarest of all businesses, according to Kim, but a worthy goal for any business. Any company that makes it to the level that this goal is potentially achievable has already found and cultured the right go-getters in the beginning and the best executives during those middle years. Now, to climb the mountain, you'll have to find the right leader. This person will be someone who's helped other business reach the Unicorn Club. They'll have reach and credibility within the business world, a network of peers to pull from, and most importantly, the vision and enthusiasm for the company's goals.
Hiring for growth can not be done without an understanding of where the company is and where it wants to go in the future. Finding and hiring the right people to provide what you need will help propel your business to the next level. The hiring process can be made easier with the right tools for the job. Through all stages of the hiring process, the right applicable tracking system will help you stay organized and on track to hire the best people in the most efficient way.