Concerned about recruiting, retaining and rewarding employees in your start-up? Our UK Managing Director writes in MiBusinessMag and gives his top tips to start-up staffing.
"By their very nature, start-ups have little or no track record, have yet to prove themselves, involve a varying degree of continuity and business risk and are often less structured than more established companies. Whilst these characteristics are part and parcel of the dynamic environments that entrepreneurs often foster within their businesses, the lack of HR experience and infrastructure can cause headaches down the line," writes Michael.
"If you look at a typical start-up situation, there will be between two to five people, each with a broad range of responsibilities, not all linked to their personal areas of specialism, who are trying to prove the concept of the business before further investment is made. Therefore, eyes are almost always on cost savings; building a large team before the business is established rarely makes financial sense. Even when capacity is stretched, the question often asked is: can we make do for now?
"Even when a decision has been taken to make a new hire there are a number of things to consider. Personalities really count at this level, so firms need to be sure that any new hire will fit in with the rest of the team and can thrive in a start-up atmosphere. Given everyone is pitching in to run the firm, employers also need to be sure that new starters will be prepared to roll pu their sleeves and get stuck in. After all, the entrepreneurial spirit of flexibility is paramount to the success of a new venture."
To read Michael's full article, visit MiBusinessMag.com