For many candidates, start-up culture is an attractive option. The opportunity to get in on the ground floor of a business comes with plenty of positives – building foundational processes, growing with the team and the business, and in many cases, disrupting the status quo of what a traditional workplace looks like.
It can be an exciting, engaging, and motivating space to operate in, as long as the element of fun doesn’t outweigh core business functions – one of them being Human Resources.
Humani has been in business now for nearly 4 years, and we know and serve many tech start-ups. With extensive experience in this sector, one of my key learnings about start-up culture is that many founders are allergic to the term “Human Resources.”
To that I say – I get it. I’ve worked as an HR practitioner my whole career, and I can understand and appreciate the fact that it can carry a bad connotation. The last thing innovative thinkers want is to be hamstrung by processes and policies that stifle creativity and nimble decision-making.
But the truth is, regardless of what you call it – People Operations, Employee Experience or Human Talent Management – developing a strategy around your people has never been more important.
Here are my 10 reasons why people planning is absolutely critical in start-up cultures.
1. Joining a tech start-up is a risk
While there’s a ton of exciting things about working for a company in its early infancy, the lack of “been here before” experience means there are some risks associated. An HR presence can put people’s minds at ease, help increase retention rates and performance along the way.
2. Up-to-date policies attract top talent
It’s one thing to adopt modern workplace practices, but remaining in full compliance with employer regulations will signal to employees that you’re established enough to be taken seriously.
3. Performance programs enhancework outputs
A business without an established performance program runs the risk of losing great employees to dwindling motivation and engagement. A well-defined performance review program shows your people that you take their goals and achievements seriously, motivating them in the process.
4. Your people crave career progression
It’s no secret that many candidates jump into start-up culture head first, dreaming of their opportunities to climb the corporate ladder without all the levels and hierarchy that can be present in larger organizations. Defining clear pathways for promotion are essential in helping employees clearly align work outputs and performance with where they want to go.
5. Your compensation philosophy drives hiring efforts
Determining your comp philosophy is an important process that will guide your hiring decisions going forward. Ensuring that the employees you recruit fit this philosophy will ensure a cohesive culture going forward.
6. Benefits are big value-add pieces for your business
If you want creative thinkers, you need creative packages. In 2022 and looking forward, benefits go beyond health and dental to include things like flex work arrangements, perks, recognition programs etc.
7. Professional mentors set you up for success
Having access to a dedicated or fractional HR partner means you have the opportunity to tap these resources for professional mentorship in all areas of their specialty. Owning or managing a start-up doesn’t mean you have to have all the answers, it’s about tapping your resources effectively to optimise your business.
8. Employer branding carries impact
Sure, start-ups are sexy, but on a deeper level employer branding can help potential candidates better understand why your business is an excellent fit for their talent, and their future. Cobbling one together does nobody any favours, let experts support this exercise.
9. Succession Planning
If you’ve watched HBO’s Succession, you know the absence of plans for replacing key players within your business can be detrimental to both the team, and the bottom line. Especially if you are raising rounds of funding, or are a publicly traded company, succession planning must consider a number of factors and requires professional support.
10. Operational Effectiveness isn’t a made up thing
You can have the best and the brightest talent in the country – heck, in the world – but if your systems aren’t up to snuff, your employees won’t be operating at peak effectiveness. Knowing the ins and outs of the best HR systems that support streamlined operations is a perk of working with HR experts.
A start-up doesn’t have to be messy to operate with modern, nimble workplace practices. Putting your best foot forward with your people strategies will only better secure your chances of retaining your top talent for your rise into the stratosphere.
If you’ve got gaps in your people strategies, reach out to Humani HR. We’re here to chat solutions for your business so you can scale and grow with ease.
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