~1 min read~
Last week was start-up week here in Chattanooga. I had the opportunity to sit on a panel and interact with a number of businesses starting up around town. I took the opportunity to talk a little bit about how what we do - hiring, managing, and developing people - is vitally important for a start up.
Think about it. Easily the most expensive thing about a start-up is it's human capital. When the margins are small, one bad hire can sink the ship. The work culture is new and being formed, so institutional controls are weaker. People wear more hats and roles are more fluid. So, it's important that you have solid data: both about what you are looking for and who's interested.
One of the best moves a start up can make is to benchmark new roles and the employees occupying them as the start. What type of behaviors does this job require to be successful? What are the key components of this job? What kinds of skills and competencies are needed for performance?
This will help you have clarity about the role. It breaks the job down into smaller pieces so you can digest them easier. And it also allows you a way to compare potential hires to an ideal benchmark.
Here's the catch: easily the most expensive thing about every business is it's human capital. So, if you want to have more clarity about a job and better alignment among your people, let us know.
And that's your Tuesday quick thought.