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Managing Human Capital Is Key To Success
Collegeville, PA (May 29, 2001) – Delaying hiring decisions, hiring
too many people who are just like you, and keeping employees on who are
not a good fit are some of the reasons companies have trouble surviving
in an increasingly competitive marketplace. Successful start-ups are realizing
just how important human capital is.
T. Williams Consulting (TWC), a human capital solutions firm, offers
the following guidance on how to attract and retain the right people in
emerging growth companies:
- Seek out seasoned managers who have weathered the storms of start-up
companies. If you don’t have the contacts, align yourself with
an advisory board that does, and then network.
- Don’t delay decisions on hiring key people. Gifted founders
know that they’re not going to run the company for the long-term.
They need to bring in expert support.
- Pick your service providers carefully. Whoever is backing you may
attract good people to your company.
- Be willing to commit that people are the most important asset, and
work to retain them.
- Communicate the right message about your company to potential hires.
Set realistic expectations.
- Don’t hire in a frenzy. Plan carefully for what you need now,
and what you will need later.
- Remember that not everyone has to be an employee. You can hire consultants
and seek temporary or part-time assistance.
- Hire people who are different from you, as well as those who are
like you. It’s a common mistake for entrepreneurs to surround
themselves with people just like them. Companies need diversity.
- If someone is not a good fit for the company, recognize it. Deal
with it right away.
“In a day and age where smart growth is critical to success, the
importance of human capital can’t be emphasized enough,” said
Terry Williams, president and CEO, TWC. “A successful start-up should
be thinking beyond funding, to the growth stage when they’ll need
to be armed with the talent necessary to take the company to the next
level.”
These tips were excerpted from the T. Williams Consulting (TWC) Business
Strategy Forum, Building Your Business Right - the First Time, for entrepreneurs,
CEOs, and business executives. Additional
information about TWC may be found at www.twcgroup.com.
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