In order for a startup to thrive, you need to select an experienced leadership team. The right executives can make things happen for you. They are the business veterans that have worked for so many years in some of the top performing companies. Handling millions of dollars might be a tiny thing for them. Hiring these kinds of professionals is necessary to accelerate the growth of your organization.
Now, one of the most significant questions that many entrepreneurs have is what exactly they need to consider when hiring an executive. They want to know what methods they need to follow when they are hiring senior executives. It’s too high stakes to approach this task randomly.
There is no doubt that hiring for startups is not an easy task. It can be downright terrifying at times. You should have a lot of experience by sitting through numerous job discussions in the shoes of an entrepreneur, as well as experience gained as a board member and an observer.
Not many people have this kind of exposure in these realms. Here are some of the crucial things that one should consider when hiring executives:
Hire People From Different Firms
You should have a mixture of people coming from both small and big companies. Hiring executives from only one category might not be advantageous for you. If you hire a person who has experience working with a big company, these are the benefits that you will enjoy:
They will be familiar with numerous systems as well as processes that the big firms utilize to manage scale. Now, some of these systems can be of great benefit to you and the growth of the company.
They will be well aware of the best practices that are prevalent in the market. These executives have an excellent understanding of various ways and methods to address issues which most startups do not know. These executives can enhance the communication systems in the company so that the stakeholders are well aware of the things that are happening. Now, these things are quite essential when your company is growing.
Since these executives have connections to networks that are large and powerful, they can be beneficial in providing you with various resources that can assist you in expanding the company. It also means you can easily attract businesses that are new and work with partners that are new.
In contrast, when you hire an executive who has experience in small companies, you will get the following benefits:
These are the guys who will get their hands dirty to make things happen. They do not wait to be instructed to do things. Executives from small companies know how to work efficiently in an environment where the direction from the upper management is not so clear. Having a mixture of talent is essential if you want to grow your startup.
Humble And Willing to Learn
Certain big shots might not fit well into your organization or culture. They might not like the way things are in a startup. These people may feel that it is a burden to be working for you.
They may not want to adjust as they may be in the habit of delegating everything to their peers. Hiring this kind of executive is not good for your organization.
You need to find those who are humble yet have confidence and are highly talented. Find people who are willing to adopt and embrace the workplace culture. They should be ready to take any feedback that comes from you, and they need to have the dedication to learn from a new environment.
Though you may feel overwhelmed by the volume of work involved, it is wise to do the reference check if you want to hire the best. You might pay a lot of money to a person who may not be worth the money if you don’t take the time to contact references. But, when you properly check, you can get top performers for the same base salary that you are willing to pay.
Do not forget that bad hires at the senior management level can be very costly to the companies that are small. It is, therefore, wise to do your due diligence before hiring a candidate. These are some things you might have to do when you are doing reference checking:
If a candidate is unwilling to provide this information, you may have to stop the hiring process of that person. The candidate that you might be planning to hire needs to give at least two to three references.
Never allow the recruiter that you are working with conduct the reference checks on behalf of you as they might not be diligent. Take some time in your schedule to talk with at least five of the candidate’s previous managers. Understanding things that the candidate has to improve on before hiring an individual are essential. Learn about the candidate’s achievements and other vital accomplishments that you can cross verify after an interview with him.
These are the things that you need to check when hiring executives for top positions in your organization. With the right leadership team, your startup will be stronger at every level.