The Impact of Fast Growth on Employees

The Impact of Fast Growth on Employees

Posted by Lee Yarborough on 5/25/16 8:00 AM
Lee Yarborough
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Posted on: May 25, 2016

Businesses agree:  Growth is Good! Growth means new clients and increased production. Ultimately, growth translates to increased profit.

Employees may view growth differently. Growth can be scary. It can mean more work in less time.  Employees may worry about additional hours, the impact of stress on their personal lives, and added potential to make mistakes. They may feel that they are overworked and need help, but that no one is listening.

As business leaders, how do we maximize growth and manage employee morale?

Hire sooner rather than later. Businesses often hire in a reactive manner. However, the most successful companies hire before the need arises. Personnel requirements should be constantly monitored and the candidate search should begin before the crisis point.

Manage the hiring process. Hiring and recruiting require a great deal of time and money.  However, finding the right employees to grow your business is worth it. Take the time to update job descriptions, advertise effectively, work with recruiting firms and consider using employee assessments.

Involve the team in the process of structuring new positions.Current employees may feel threatened by the possibility of new personnel. Ask for feedback from employees and keep communication open. Post jobs internally first. When recruiting from the outside, consider having key employees involved in the interview process. This will make them feel less threatened by new hires.

Create a training program. Whether formal or informal, a training program for new hires is crucial to your growth strategy. Focus the training on the skills and knowledge necessary to perform the job successfully as well as the cultural expectations of the job.

Evaluate current employees.  Do you have the right people on your team to grow with you? You must make objective assessments of your current employees, in particular, the management. Additional training or resources may elevate current managers to the necessary level, but if not, you must be willing to make difficult decisions.

Plan for physical expansion. Can your current facility handle your expected growth? Can you make modifications to optimize your space and expand your timeline?

Remember the three C’s:  Coordinate, Communicate and Celebrate. Plan your growth strategy; be open to your staff; and celebrate your growth. Encourage everyone to work towards continued success. And most importantly, enjoy, this is when business becomes fun!

Topics: Small Business, Employee Management

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