Growth is an exciting time for a business, it can lead to opportunities for both employees and the business itself. An integral part of growth for any SME is hiring for growth; if your business does not have the capacity to take on extra workload can you truly experience growth? Deciding to expand and grow your business often requires fundamental change to the way your business operates. Do you have the right expertise within the existing team to create change? Let’s explore 5 reasons why hiring for growth is so important:
Long term investment
People are your most valuable asset; often companies hire on an adhoc basis and fill vacancies as quickly as possible, sometimes best practice & hiring the right candidate for the job role can take time. Forward thinking consists of developing your recruitment strategy thinking of the long term gain, rather than focusing on the short term gain to fill the empty vacancies. Hiring the right people will contribute to propelling your business forward.
Cost of poor recruitment
Poor recruitment has consequences beyond reputational and time implications, it costs the business money. Hiring the wrong people can cause a loss of productivity and have a negative impact on team climate. If a person is unable to fulfill the job role, the loss of productivity can decrease how profitable your business is. With this in mind, it’s detrimental you have a strong recruitment strategy to align each hire with the business mission & vision.
Diverse customer needs
As your business continues to grow, so will your customer base. As your customer base becomes much broader, it is likely that there will be an increase in diverse customer needs. To remain competitive you need to hire the right expertise into the business to address the growing customer needs.
Raising investment
When raising investment for the business, it’s not just about revenue, it’s about the leadership team, the plan for scaling the business and being upfront about the challenges, especially in the current market, being able to demonstrate your plans for successfully hiring the right people at the right time will make a huge difference to your investment pitch.
Improving customer service
When a product or service gains customers quickly, the business faces extra challenges, operations, account management, sales, customer service and engineering quickly find the simple workarounds that worked for a few customers start to turn into issues that lead to customer churn, having a bigger team that supports both your business and customers can be needed to ensure growth continues.
We have worked with numerous companies that have faced similar challenges over the last 7 years and are able to demonstrate a good track record of supporting them in planning and executing their hiring challenges to help them grow at scale from finding that right C level exec through to building teams out.
To talk about how we can help you to build a strong recruitment strategy call us on 0330 133 2097 or email enquiries@thetalenthackers.com
