【How Do You Know When To Hire Your Next Startup Team Member?】
One of the struggles that startup would face during early stage is trying to figure out if it’s time to hire a new team member.
The answer to that question is, you know you need to hire the first or next team member when filling a role is the only option to move the startup forward. The reason could be that you may be missing out business opportunities because of your limited availability or you don’t have the required knowledge and expertise.
Nonetheless, having clear hiring goals can effectively accelerate the your startup growth while minimizing hiring risks.
"Project Your Organizational Chart"
Try to picture the company’s organizational chart at the stage your startup has reached growth and has become an established business. This would help you to forecast how your startup team will develop in the next few years, fundamentally on the basis of key activities to be performed in your venture.
Your projected structure and roles are hypotheses and as your startup progresses, you will change, iterate, and pivot your structure. This exercise would help you put your vision on paper and define practical hiring benchmarks.
"Define Hiring Benchmarks"
Your hiring benchmarks will depend on your business model, growth strategy, funding, and market. Your projected organizational chart would help you determine who you need to hire, while building your hiring schedule around your business performance or business goals to be achieved, like the number of customers acquired or markets entered.
"Can You Do It First?"
Once you can understand the requisites, challenges, and timelines of the role, you can form a realistic idea about when to hire more experienced and expert candidates to do the job better so you can focus on what you do best.
"Seek A Mentor’s Perspective"
This is where a mentor's experience can help you identify the most valid hypotheses.
If you are still averse to the risk of hiring, adopt the testing period approach for your hire may help.
Testing and measuring the performance of the new members can also give you an idea as on what works and what doesn’t for your startup. You can hire new members for a pre-defined testing period and closely monitor their impact on your startup.
By Izza Lin,
Recruiting Master
Article source: https://bit.ly/3gAuXXc
Photo source: unsplash
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