Are you looking to grow your business but have no clue who you need to hire to gain maximum return on your investment?
Conference Board CEO research states you are not alone with the number one challenge that keeps many CEO's up all night is Managing Human Capital.
The great news is that you can say NO to the countless sleepless nights you had worrying about if you are doing it right, or asking yourself who the hell you need hire?
These concerns you have are valid and Cheri Alexander from the Faculty of Management and Organisations at The University of Michigan shares there are three questions you and your business need to ask before finding out which position you need to hire. They include:
1. What strategies will grow or sustain the company or team?
When you inquire into this question, think about what has/will make your company stand out. Example: As a media company, we are well known for providing remarkable service to our clients in everything we do. Action: Only hire people who can deliver the remarkable service your company is committed to, even if they are not client facing.
2. What positions will create value in the company or team?
When you inquire about this question think about what the value of the position will create before selecting people. Example: The value of hiring a sales manager who is able to deliver 23 new businesses worth $434,000 each year means that position will help create $246,000 of profit each year. Action: Select the person who is able to meet the KPI of $434,000 sales per year.
3. What skills and abilities do the people who fill those positions need to have to add value, and help your team meet its strategic PROPERTIES?
In this question, think about what capabilities the candidates need such as skills and ability to meet the objective of the position created. Example: The candidate would need three years working in the industry, a proven track record of selling a similar type of product/service, and have contacts within leading media agencies and media owners. Action: List out every skill and abilities the candidate needs to meet their measures of the position for the position to be of a value to the company.
When you think about who to hire. There are three things you need to ask yourself. 1. What kind of team environment am I building that will help grow the business? 2. Does the role being created add any value to the company? 3. What kind of skills and abilities do they need to accomplish the positions goals?
Pjay is passionate about entrepreneurship and helping businesses grow. He is the recent winner of MR. Nepal Oceania and loves writing articles about Business Development, Marketing, and Productivity Hacks.