As companies reach various stages — from start-up to rapid growth to maturity — the needs of the organization evolve dramatically. Leadership behavior also needs to keep pace with change. A Rapid Growth stage in particular brings with it significant challenges related to talent management. Companies at this stage need senior leaders who thrive on change, can take on moderate risk yet also like to build organizational structure and establish processes. It can be a thrilling, yet risky transition to make when moving from a start-up into rapid growth. Here are three must-haves to effectively manage talent early on in those environments that will ensure future success:
- Headcount/Capacity — A fast-growth business means hiring lots of additional people to help manage new demand while preserving the customer experience that propelled your growth in the first place. One of the most challenging parts of managing growth is getting the right people hired with enough time to onboard them efficiently and get them to productivity on schedule. To do this quickly and effectively, organizations introduce behavioral assessments to help define new or evolving job requirements and identify candidates or team members who are best aligned for each role. Our research shows that many successful rapid growth companies integrate workforce analytics directly into the online job applicant experience to streamline the capture of relevant data.
- Job and Culture fit — In addition to adding personnel, it is critical that every employee is positioned to drive success in the new environment. This means that each individual is behaviorally aligned with the requirements of their job and the larger team. Since an organization’s culture is the glue that binds employees to the venture, and to one another, organizations in growth mode can benefit from using workforce analytics to identify the fits and gaps between individuals and teams regarding the requirements of the new workplace. Many rapid growth organizations leverage data-driven insights based on science to help them understand how the talent on their teams today can get them into the future and what potential gaps may exist.
- Employee Engagement — Aggressive growth brings changes, and not everyone handles change equally. As a company scales, the more rigor needs to be introduced into processes like hiring, onboarding and coaching. In turn, workforce changes, product strategy changes, market evolution and more can impact engagement and ultimately, retention. Productivity and engagement are at the heart of the healthy expansion of any business. Behavioral data provides managers with actionable insight to enhance and drive both. The strategy and goals of the company drive the direction of the organization; science-based assessments provide data to help align the people side of the plan.
View the Stages of Organizational Growth in an infographic.