Journey of a Serial Entrepreneur

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How to get from where you are to where you want to be

Hiring your first employee

“I am convinced that nothing we do is more important than hiring and developing people. At the end of the day you bet on people, not on strategies.” Larry Bossidy

The day your company is ready to hire its very first employee is an exciting one for any startup company. It is a sign of growth and a sign that things are moving in the right direction. Talking about hiring may be fun but when startup companies actually get down to doing it, thats when they realize that it is much harder than it appears to be. Over the years I have been through this cycle many times and am constantly refining the process, to get it right. 

What starts out seemingly as a simple cycle of sourcing, identification, interviewing and hiring requires a lot more groundwork to get the process right. In my earlier ventures our recruitment methodology was very sporadic and unstructured. This resulted in the hiring process taking much longer , it was more expensive, we didn’t get the right people and through it all lost business opportunities while searching. Recently, in one of my companies we have initialised the hiring process which has been a much more efficient and cost effective approach. I will share it with you this week.

Startups need to realize that hiring and building their team is going to be the most critical exercise to ensure the future success of the company. If you hire and work with people who do not have the passion, spirit and ‘need to win’ approach, your chances of succeeding are greatly diminished. By hiring the wrong people you slow down the company, decrease morale, incur heavy tangible and intangible costs. You must be cautious that you limit the entry of such people to your core team. During the course of the week I will touch on the 5 basic steps we take to identify and recruit employees. I hope it will be of some benefit to all the readers who are thinking about hiring in the near future.

 

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