Companies in the midst of hyper growth have some serious priorities to manage. They have to ramp up fast to meet ambitious business goals, please investors and sustain the incredible momentum.
But every other priority pales in comparison to hiring. When a company enters the hyper-growth stage, they often need to add what seems like an unfathomable number of people in a short time period. Every business objective hinges on hiring the right people who can contribute to the company’s continued ascent up the growth curb.
Resource Co-Founder Troy Sultan has helped some of Silicon Valley’s top companies recruit and hire during hyper growth. He was kind enough to share the information and advice provided in this blog post.
Every employee is a recruiter
For most companies, recruiting and hiring is another cog in the machine. It’s an important business function but one that can be outsourced or handled by a small team of internal recruiters or HR professionals. But that approach won’t work for hyper-growth companies. Hiring has to be the organization’s number one priority.
“Recruiting and hiring needs to be built into the DNA of a hyper-growth company,” according to Troy. That means every employee must understand how critical it is to the company’s success and do their part to bring great people on board.
Non-management employees should spend about 5 percent of their working hours sharing job openings on social media and reaching out to people in their professional network. However, founders and executives often need to devote upwards of 50 percent of their time to contacting candidates, participating in interviews and making hiring decisions. Everyone who works for a successful hyper-growth company takes part in the recruiting and hiring efforts to some extent.
Establish an end-to-end hiring process
Hiring at hyper speed requires an efficient, well-planned process. Troy recommends hyper-growth companies take a page from sales and think of the hiring process as a funnel with various steps. A mass of candidates come into the top of the funnel, then go through a series of screenings, interviews and assessments before a select few reach the final stage where offers are extended.
Hyper-growth companies can use the data provided by their recruiting and hiring software to optimize each step in the funnel. For example, if too many candidates lose interest during the skills assessment stage, it could mean the company needs to rethink their exercises and tests.
Troy points out that too many recruiters focus on sourcing great candidates but don’t pay enough attention to the rest of the hiring process. Visualizing the entire candidate journey as a funnel and using data to evaluate the effectiveness of each step can help companies with little room for error hire successfully.
Out of all the steps in the hiring funnel, the interview stage often requires the most planning. People who interview candidates are likely busy with their individual duties but must be prepared to make the best use of the time. They have to know what the role requires and how to properly assess the candidate.
“Not knowing what you’re look for leads to emotional hiring,” says Troy. He recommends hyper-growth companies define the role at the beginning of the hiring process and provide each interviewer with a rubric or preset assessment for evaluating the candidate. Without set criteria to follow, many interviewers will default to assessing a candidate’s personality or interview performance.
Troy also suggests hyper-growth companies move fast after conducting interviews. That can mean getting the entire hiring team together to make a decision soon after a candidate leaves the office. That decision should then be relayed onto the candidate, regardless of whether it’s good or bad news.
Anyone who interviews with a hyper-growth company knows they’ll have to work fast if they get the job. And they also expect the company to have a similar sense of urgency during the interview process.
Avoid mistakes and hire effectively
Hyper-growth companies have to make smart decisions. They simply don’t have the time to learn through trial and error, especially when it comes to hiring. Every second matters when a company needs to grow its staff by leaps and bounds.
Even the most complicated problems can be solved with a detailed plan supported by the right technology and plenty of resources. Hyper-growth companies can bring on an astounding number of new employees in a short time by creating a methodical hiring process that the entire staff helps drive.
Resource helps growing companies automate the candidate sourcing process. Learn more at getresource.io.
Source: Erin Engstrom