Posts Tagged ‘responsibilities’

5 Timeless Hiring Tips for Business Owners

Tuesday, December 24th, 2013

People are key to the success of a strategy and, therefore, a company.5 timeless hiring tips

That’s not news. It’s the very opposite.

Articles about people management regularly appear in the press and there are blog posts published daily about the impact of culture and leadership on success.

Yet some business owners still deal poorly with the people part of strategy. And it often starts with how they hire.

So, here are 5 of my favourite tips (that also aren’t new) for hiring.

1.  Be Clear About The Role. Make a list of the things the role contributes to the execution of the strategy. That will determine the skills and experience required by applicants and make the responsibilities of the position very clear.

2.  Always be Hiring. Think about everyone you meet as a potential hire, particularly those you think would be great to work with. Keep their names in a database. Build a relationship with them in case you do ever decide to offer them a job – and reduce the risk of making a bad hire. Drop those who don’t measure up.

3.  Don’t Settle For the Best of the Bunch. I mentioned skill and knowledge earlier. But you also want people whose attitude and values fit with your culture. And that combination doesn’t pop up every day. That database of potential hires can help you avoid having to settle for the best of the candidates who happen to be available. So can patience and a willingness (and ability) to wait.

4.  Consider a “Test Drive”. Hiring people you’ve worked with previously is similar to test driving a car before buying it. So is hiring someone on a short-term contract, or taking them on as a sub-contractor, to complete a project. All 3 provide an opportunity to get to know their values and attitude. That’s better than hiring someone who looks good on paper – we know that more people are “massaging” their resumes than ever before.

5.  Onboard, Onboard, Onboard. Many companies consider the hiring complete when their offer is accepted. That is just plain wrong.  An onboarding program ensures a great first impression; it allays the stress a person experiences when dealing with new processes, fresh expectations and people they don’t know; and it reduces the time it takes new employees to become productive.

You can find a more tips here.

If you enjoyed this post you’ll also enjoy Little Things Can Have a Big Impact.

Click here and automatically receive our latest blog posts.

 

Jim Stewart is the founding Partner at ProfitPATH. He has been working with business owners for over 16 years to increase profits and improve the value of their companies. LinkedIn

Share

Should The Business Owner Remain CEO?

Tuesday, July 2nd, 2013

From time to time a business owner we’re working with will ask if we think he or she is the right person to take their company to the next level.Should business owners remain in or relinquish the position of CEO?

This concern has its roots in a broader question.

Can entrepreneurs scale the companies they start or should a professional manager/CEO be brought in at some point?

Arguably this is a leadership not a strategy issue. But the two are interwoven, perhaps even inseparable.

Randy Ottinger nicely summarized the alternative approaches in a recent article.

1.  The founder stays on as CEO

This theory, like the others, is supported by research from very credible sources.

The conclusion – founding CEOs consistently outperform professional CEOs on a broad range of business and financial measures. The founders of technology companies, in particular, have core competencies an outsider may not have.

Some high profile companies with successful founder CEOs are Starbucks, Amazon and Apple.

2.  The founder forms a partnership (not necessarily in the legal sense) with a professional CEO

This time, the research concludes that founders maximize the value of their equity by giving up the CEO position.

The founder of LinkedIn supports this alternative. He argues that retaining the founder prevents the loss of the essence and entrepreneurial nature of the company, while at the same time gaining the expertise to scale the company in the professional CEO.

Other companies, which went this route, were eBay and Google.

3.  The founder is replaced by a professional CEO (brought in from another company)

The third alternative is to replace the founder with an outsider.

But Jim Collins, amongst others, concludes that great companies have a much greater chance of success if they hire from within rather than go outside to find a CEO.

So where does all of this leave us?

4.  The fourth alternative – common sense at work?

Clearly, not all situations are the same.

So, perhaps it’s not about choosing either a founder/CEO or professional/ CEO, but about using the leader whose skills and abilities best match the requirements of the task at hand.

Founders typically are innovators with entrepreneurial drive who may not have the skills needed to execute. Professional managers typically know how to execute or scale but are not strong on innovation.

The question, in both cases, is does the individual have at least some of the missing skills and the desire to build on/improve it? (Which ties to one of my theories.)

If the answer is “no” then a “team” approach may be more effective. Titles can always be massaged (e.g. 1 person is President, the other CEO; 1 is CEO, the other COO).

But the job responsibilities must be clear and unambiguous.

You can read Randy Ottinger’s article here.

 

If you enjoyed this post you’ll also enjoy Don’t Shoot Your Strategy In The Foot.

Click here and automatically receive our latest blog posts.

Replacing Myself

Tuesday, November 27th, 2012

Our guest this week is Lisa Taylor, President and Founder of Challenge Factory, a company that is changing how Canadians view the aging workforce. See below…..

I am the founder of Challenge Factory, a company that is changing how Canadians view the aging workforce. We talk about trends, demographics and experiential programs that spark innovation and competitive advantage. We work with individuals seeking meaning and satisfaction and the companies looking to employ top talent.

Recently, the business hit a milestone.  It had grown to the point that I needed a dedicated operations manager to oversee the quality of services we deliver and find ways for us to innovate as we grow.

It took several attempts to find the right person. I was, after all, replacing myself for many of the role’s responsibilities.

First, I explored using a virtual assistant and delegating tasks but quickly recognized that I wanted an employee who would be committed to the future and health of the business. Next, I hired a recent graduate thinking I would provide training and they would bring energy, new ideas and curiosity.  Six weeks in, the graduate hire asked for 8 weeks off to travel on a pre-arranged, non-refundable, non-negotiable trip.

Then I found Cayla.

Cayla had experience and came highly recommended. In our initial discussion I was explaining the administrative tasks that would be a part of this job. She responded by saying that she’d do the tasks for the first two months on the job and in the third we would automate whatever we could so that no one had to spend time on tasks that didn’t drive our goals. I swooned.

Next we discussed the more strategic elements of the job. I proudly shared the company history and plans for the next year. She started talking about plans for 2-5 years out and noticed areas where I had been very conservative. “Why don’t we charge for that service? We are the only company in the country that has that expertise. Why give it away?” I started to explain how the company had started and why we initially provided the service as a way for people to see just how different we are. And then I stopped.

I was overcome by a feeling that usually only surfaces when I am talking about my kids.

I am a mother to two boys. When I meet someone new and they ask how old the kids are, I proudly say “7 and 10.”  Most of the time, the response I get is “oh, little guys.” I am always surprised by this reaction. Little guys are the babies we held. Little guys are the toddlers we chased after. Little guys are the boys as they started school and learned to read.  My kids take the TTC, they have a cell phone, they know who Obama is. They are not little to me. Yet, in the scheme of things they are little with many more stages of growth ahead of them. That is what the stranger sees.

And the same is true of how new employees view start-up businesses.

It occurred to me that Cayla and I had radically different views of the company. To me, Challenge Factory is currently the largest and most successful it has ever been. It will continue to grow from here but I am proud of what it has already accomplished.

To Cayla, Challenge Factory is the smallest it will ever be. It is exciting enough to entice her to come and dedicate herself to the company – but not for what it is now. For what, together, we can build it into.

Replacing yourself is not easy. But as parents and business owners we know that our kids and our businesses will only rise to the level of expectation that we set for them.

More about Lisa:
Lisa worked as a strategy and technical consultant at Deloitte and Hewlett Packard. In her last role at Hewlett Packard, Lisa managed a workforce of over 12 consultants and uncovered a nascent trend linking working life expectation, longevity and employee engagement. Stepping away from corporate life, she created Challenge Factory.
Challenge Factory combines the latest demographic-based research with innovative career management practice. It provides highly experiential and practical programs for individuals and organizations. Challenge Factory and its clients have been profiled in the Globe and Mail, Toronto Star, Vancouver Sun, Calgary Herald, Brandon Sun, HR Reporter, Ottawa Sun, Herald Chronicle, 24Hrs and Canadian Press.
Lisa holds an MB in Strategic Management from the Schulich School of Business, York University. She currently sits on several not-for-profit boards and is an active community volunteer and public speaker.
Lisa has addressed over 400 organizations in Canada, the U.S. and abroad and has a regular careers column in the Toronto Star.

If you would like to contact Lisa, email her at lisa@challengefactory.ca or at 416-721-8494.

Post History