Recruiting and Building a Founding Team - Margo Crawford
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Organizations of the future will look dramatically different than they do today. Large companies know this and are planning for a changing workforce and workplace. Startups and small emerging companies are already implementing these innovations. Planning for building and growth needs to move beyond conventional plans that examine core team, culture and fit, as well as novel and creative ways of building virtual resources that will ebb and flow with the ever-changing demands in business. This session will focus on why building a highly adaptable workforce and workplace matters for small companies; how to plan for building this team; and finally how to recruit and hire both your core team and virtual teams.
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Recruiting and Building a Founding Team - Margo Crawford
- 1. Building Better Teams in Small Businesses
- 2. Will cover: Anticipate - Planning - Execute Alternatives • strategically differentiated approaches Social Media – • why it matters • what it looks like now & in the future • how to optimize
- 3. Small and medium-sized businesses (SMEs) play a significant role in the business landscape in Canada. Small is the status quo 98.2% of businesses in Canada have less than 100 employees Small businesses contribute more than 30% to Canada’s GDP Net growth of small business is 9,000 per year on average Source: BDC Small Business Week 2013
- 4. Strategic Responsibilities (WHAT) The challenge for small companies Talent Strategy | Financial Performance | Business Strategy Operational Responsibilities (HOW) = Leaders Must Think of Everything with Limited Resourcing Options Human Resources | Finance & Administration | Governance
- 5. What is the problem? SMEs need a way to service their core business functions - quickly, efficiently, and cost-effectively. Full-Time Hires >> Not always a solution Too Expensive, Not Enough Work, Limited Scope Time >> market window, early wins, individuals doing many jobs Money >> resources are very limited
- 6. Anticipating, Focus, Plan, Execute
- 7. Corporate Operations Total Addressable Market Early Stage Focus: NEW CUSTOMERS Sales, Product Marketing Focus • New products • New features • New customers Product Strategy Design & Development Manufacturing & Test Delivery & Support Business phases and organizational growth
- 8. Corporate Operations Total Addressable Market Early Stage Focus: NEW CUSTOMERS Sales, Product Marketing Focus • New products • New features • New customers Product Strategy Design & Development Manufacturing & Test Delivery & Support Business phases and organizational growth
- 9. Corporate Operations Total Addressab le Market Early Stage Focus: NEW CUSTOMERS Sales, Product Marketing Focus • New products • New features • New customers Product Strategy Design & Development Manufacturing & Test Delivery & Support
- 10. Total Addressable Market Corporate Operations Sales, Product Marketing Product Strategy Design & Development Delivery & Support Manufacturing & Test Existing Customers & Maturing Products New Customers & Products Future Customers & Products Matured Organizational State
- 11. Total Addressable Market Corporate Operations Sales, Product Marketing Product Strategy Design & Development Delivery & Support Manufacturing & Test Existing Customers & Maturing Products New Customers & Products Future Customers & Products Matured Organizational State
- 12. Total Addressable Market Corporate Operations Sales, Product Marketing Product Strategy Design & Development Delivery & Support Manufacturing & Test Existing Customers & Maturing Products New Customers & Products Future Customers & Products Matured Organizational State TEAM DNA – FOUNDER FOCUSED
- 13. Corporate Operations Sales, Product Marketing Product Strategy Design & Development Delivery & Support Manufacturing & Test Planning for success 2 4 1 5 3 Five key organization functions 1. Continue focus on winning new customers 2. Support existing customers/products 3. Pay attention to future markets/products 4. High quality support to mature customer/product 5. High quality realization of new customers/products Existing Customers & Maturing Products New Customers & Products Future Customers & Products
- 14. Sales Product Design NEW PRODUCT NOW LATER Gravitates to the newest, the best, now. Gravitates to released design, when it is ready. MATURE EXISTING PRODUCT Team DNA
- 15. Product Design Sales Finance, Operations, Delivery, Support Gravitates to predictability and precision Team DNA NEW PRODUCT NOW LATER MATURE EXISTING PRODUCT
- 16. Product Design Sales Product Strategy Balances all competing business DNA forces • Technology intelligence • Customer intelligence • Business intelligence NEW PRODUCT NOW LATER MATURE EXISTING PRODUCT Finance, Operations, Delivery, Support Team DNA
- 17. Product Design Sales Product Strategy • Product features • Product Mix • Addressable markets • pricing strategies • Positioning • Product road map NEW PRODUCT NOW LATER MATURE EXISTING PRODUCT Finance, Operations, Delivery, Support Team DNA
- 18. Organizational Effectiveness • People • Processes • Technology • Vision on organization Bus Dev & Sales • Identifying opportunities • Deliver opportunities • Influence market decision makers Financial Stewardship • Financial realities & financial risks • Report on financial health • Identifying opportunities to support growth Product/Services Delivery • Define operational vision • Deliver (people; technology; processes) Industry/Subject Expert • Deep SME • Respected and knowledgeable • Communicates with industry & translate internally Executive Leader (CEO) • Outward facing • Governance • Sets highest level direction and tone form the top Roadmap - Key Functions For Organization Success WHAT TO CREATE AND OFFER HOW TO DELIVER
- 19. Organizational Effectiveness • People • Processes • Technology • Vision on organization Bus Dev & Sales • Identifying opportunities • Deliver opportunities • Influence market decision makers Financial Stewardship • Financial realities & financial risks • Report on financial health • Identifying opportunities to support growth Product/Services Delivery • Define operational vision • Deliver (people; technology; processes) Industry/Subject Expert • Deep SME • Respected and knowledgeable • Communicates with industry & translate internally Executive Leader (CEO) • Outward facing • Governance • Sets highest level direction and tone form the top WHAT TO CREATE AND OFFER HOW TO DELIVER Product/Service Strategy • Opportunities • Capabilities • Strategic Direction Roadmap - Key Functions For Organization Success
- 20. market Run the business Define ‘What’ product Design Build & Test Reach & Sell FOCUS Deliver & Support WHAT CEO CFO Prod. Mgmt. Prod. Market. Bus. Dev. CTO Head of R&D Head of R&D Design Leaders Head of Ops. Head of Manufact. Marketing & Comms Sales Bus. Dev. Prod. Market. Head of Customer Support Sales Eng. HOW Controller Accountant Office Mgr. HR Purchasing IT Market Research Market collateral - Tech. planners Research -Engineer -Scientists - QA - PM - Project manage - Manufact. - Supply chain - Tech. - Research assistant - assemble -Marcomm -Support - Sales Engineer -Media Relations -Sales Support - Supply Chain - Logistics - Install & Test - support - training - Customer Support Roadmap - Key Functions For Organization Success
- 21. Formation Technical Milestones Proofof Concept V.1 Product V.1GA Product V.2 Product V.2GA Product Financial Milestones Seed Funding Series A Series B Strategic Revenue +Margin Revenue Yearly Revenue Growth Quarterly Revenue Growth Series C IPO/M&A Customer Milestones Compan yLaunch Early Custome rBD Customer Trials Strategic Customer Sales Repeat Sales Repeat Sales Repeat Sales New Account s New Account s New Accounts V.1 Sustaining V.2 Sustaining Organizational Milestones CEO R&D Lead CFO (P/T?) PL M Sr. R&D Marcomm s Int./Jr. R&D BD/ Sales QA SE’ s Sales (Hunter) Sales (Farmer) CTO Sales Support Customer Support HR (P/T?) VP Sales VP Marketing Admin. Support CFO (F/T) Accountant COO? HR (F/T?) Company Stage – business inflection points Pre-revenue Early revenue Repeatable revenue Maturing Products Major Revenue Growth Planning
- 22. Workforce Planning Challenges Time Corporate Leadership and Opera<ons Build, deliver & support Design & development Marke<ng & Sales Headcount Product defini<on roles Revenue and cash flow will likely not cooperate with your workforce plans Plan Actual Finding People
- 23. Time CoreHeadcount Build, deliver & support Corporate Leadership and Operations Design & development Marketing & Sales Product definition roles FlexResourcing ALTERNATIVES - Workforce Planning
- 24. ALTERNATIVES – Virtualized Talent
- 25. Why This Model Works Sustainable approach to resourcing key business functions Compelling team atmosphere for individuals joining BSG Business model can scale and thrive • Flexible, Scalable • Affordable • Full Coverage • Business-Centric • Experienced Practice Leaders Oversee Team, Clients • Low Fixed-Costs • Scalable Resourcing • Creates Individual Opportunities • Rich Collaboration • Connectedness • Efficiencies and Economies of Scale For COMPANIES As a BUSINESS For INDIVIDUALS Features Features Features
- 26. Human Resources Strategic & Operational • Executive HR Leadership • Organization Design • Training & Development • Talent Management • Strategic HR Planning • Recruitment • Policy Development & Compliance • Compensation & Benefits
- 27. Finance & Administration Virtual CFO Bookkeeper Member of management team. Senior financial oversight Operational accounting support (accurate, timely day-to-day transactional) • Cost-Effective • Sustainable • Long-Term • Scalable • Flexible (As Needed) • Financial Oversight • Forecasting/Budgeting/Cash Flow • Leading Business Indicators • Financing Strategies + =
- 28. Strategy & Governance • Corporate Governance Best Practices • Board Effectiveness • Advisory Board • Executive Team Effectiveness • Business Mentoring • Succession Planning • Strategic Planning • Business Strategy
- 29. New Alternative Sources of Talent Contests Complementors Collaborative Communities Labour Markets Harvard Business Review “Using the Crowd as an Innovation Partner” By: Kevin Boudreau & Karim Lakhani, April 2013
- 30. Framework for crowd work processes WORK task decomposition WORKERS job design platform hierarchy reputation motivation task assignment OUTPUT workflow Proposed framework for future crowd work processes to support complex and interdependent work. A. Kittur1, J. Nickerson2, M. Bernstein3, E. Gerber4, A. Shaw4, J. Zimmerman1, M. Lease5, J. Horton6 1Carnegie Mellon University, 2Stevenson Institute of Technology, 3Stansford University, 4Northwestern University, 5University of Texas Austin, 6oDesk collaboration real-time work quality assurance crowds AI
- 31. Social Media Harvard Business Review, March 2015 “Is Social Media Actually Helping Your Company’s Bottom Line?” By: Frank Cespedes • building brand as an employer of choice • reaching communities for a longer conversation Questionable practices • buying likes • viewed ads appear for < 1 second What is it about? • not about selling • about building awareness Value for companies
- 32. The Job Advertising Eco-system • Job Boards • Job Aggregators
- 33. More job boards than you can shake a s<ck at
- 34. Research: • Spend time on the Internet as a job-seeker. Which sites have the best SEO? • Ask colleagues, employees and others in your industry. • Don’t ask Google, “What are the best job boards?” - The answers will be sponsored content. • Don’t be seduced by niche job boards. Ready- made software packages enable just about anybody to create a job board. • And most importantly… How do you cut out the NOISE?
- 35. • Measure the results of your job posting activities and leverage those metrics to make better decisions in the future. • Don’t simply remember where your last hire came from… …Build Recrui<ng Intelligence
- 36. Cost Applicants Strong Candidates Hired Job Board 1 $250 50 8 0 Job Board 2 $300 75 1 1 Which job board is beRer? Cost Hired Job Board 1 $250 0 Job Board 2 $300 1 Are you sure?...
- 37. • Also known as web crawlers and job search engines • These are search engines that crawl the web and aggregate jobs in one place, one list, based on your search terms. • Job aggregators such as Indeed, SimplyHired, and Eluta can find jobs on your website if each job has its own URL and a clearly identified job location - Eg: Application Software Developer - Oakville Job Aggregators
- 38. Job Aggregators can increase the visibility of the jobs on your Careers page Aggregator Ac>vate!
- 39. • We continue to have success posting professional jobs on LinkedIn. But part of that success comes from knowing how to leverage LinkedIn. Stay tuned… • We also use Indeed, which is an aggregator and a job board with excellent SEO. • Posting a job is simple and free. • Indeed might already be finding the jobs on your Careers page. If not, get in touch with an Indeed rep to find out how Indeed can “index” these jobs. Where do we post?
- 40. Networks: Your Best Recruiting Tool
- 41. • If finding a job is all about networking, the obvious corollary is that filling a job is all about networking too. • Your networks – personal and professional – represent rich pools of potential hires. All the more so if you’re an executive or a player in the industry. • Social media are the tools through which you can tap into your networks. “It’s all about who you know.”
- 42. • Share your LinkedIn jobs to your network and to groups that you belong to. • Encourage employees, including and especially the leadership team, to share the job on their LinkedIn accounts. • Encourage your leadership team to tweet the job. • Career opportunities have a ton of credibility when they come from executives. Disseminate your jobs through social media
- 43. • Encourage employees, including and especially the leadership team, to share the job on their LinkedIn accounts. • Simply go to your LinkedIn homepage and paste the job’s URL here: Share a job through LinkedIn
- 44. • Tweet the URL along with an image and a short message. • Programs like Hootsuite or BufferApp usually automatically shorten URLs for tweets. Bitly.com can also shorten and improve the look of a URL. Share a job through TwiRer
- 45. • Research appropriate job boards for your sector/target market • Use networks and social media to push out jobs for a broader reach • Use correct techniques when posting jobs to careers page to attract aggregators • Keep track of key metrics • How many applicants come in and where the strongest applicants come from Developing a Strategy