In the second part of this series, Boom or Bust - Part 2: How to Reshape Your Company Through Growth, we covered certain tried and true measures you can take to ensure you're growing your business in the right direction. However, there was one key piece of the puzzle missing--and this piece is literally out of your hands.
As the CEO, president, or leader of a company, you can make your company's vision crystal clear; you can adapt, change, and pivot to bring that vision to life; and you can control how and where the company needs to expand. What you cannot control, but what you need for success, is the help and support of your employees and human resources staff.
That's right--people are the final missing piece you need as you reshape your company as it grows. Having the right staff in place that can execute on your vision and are all working towards the same goal is the very backbone of success.
Here's how to manage this last piece of the puzzle:
Invest in promoting, reinforcing, and enabling your greatest talent
In order for scale and expansion of your vision to happen, a company must put critical operational elements in the hands of its employees.
I firmly believe that your company is only as good as its greatest talent. It's imperative to constantly check in to ensure these employees have everything they need to get their jobs done. These individuals must also be as impassioned and excited about achieving the company's vision as you are so having and promoting a positive culture is essential.
Cycle out the bad apples
And while you must invest in good talent, it's equally as important to weed out the bad talent. According to research found by the Wall Street Journal, "Just one slacker or jerk in a group can bring down performance by 30% to 40%."
The first step to making sure a bad apple doesn't spoil the bunch is through a hiring and recruiting process that will screen out the potential for negativity. If you already have a bad apple on board and are unable to reform performance, it's better to part ways.
Also keep in mind that bad talent is not always due to an initial lack of capability. It could be because the growth of the company simply outpaced the growth of the individuals who work there. Let's say you have a highly qualified manager leading your finance team, but within the span of six months the company grows from fifty employees to a Fortune 500 operation. You'll need to find an experienced CFO to run the current operations, rather than promote a manager who, while adept at running a small team, isn't as familiar with the operations of a full-service finance department.
Build a solid HR team and give them your trust
If you want to invest in your greatest talent and cycle out the bad, you'll need to build a solid human resources team. HR professionals are responsible for the sustainability of talent and culture within an organization. They are the ones who will minimize the pain of cycling through personnel and can improve talent from within. Once this team is in place, the delicate balance of your company's ecosystem should start to operate organically--making it easier for you to delegate the tasks that need to be done as the company grows.
When it comes to expansion, the art of reshaping is what will help your company grow into success. So long as you remain dedicated to the vision, yet flexible on chipping away at the details and focused on talent, you'll have the all the right tools necessary for reshaping and refining the business as you go.