Nine out of every ten businesses are having trouble finding new staff to grow their company. Many organizations need highly-skilled employees to ensure success when growing, and that is where the issue lies. If you are in a similar situation, are you aware of how a growth strategy that takes into account these current trends could help?
Below, we investigate six of the most effective tips to help you expand your business and ensure you always have the workers you need. As you read through, think about what such growth could look like and consider whether you need a helping hand implementing it.
1. Research the Growth Opportunities
To implement successful growth strategies, they need to take into account the current state of the job market. You should consider the talent pool you have, as well as how available skilled individuals are in the area you intend to expand into. You should ensure the region does not only have current talent but also a pipeline of emerging skills that match your needs.
Look at employment rates in the area you want to grow into and the wage levels for the region. This can give you an idea of the level of skills people have around there. Try to find out as much as you can about any form of skills surplus or dearth, to help you focus recruitment strategies once you move in.
By having all this information, you can put together a talent acquisition strategy that works with the job market instead of against it. If you do not have the time or money to do this, think about working with a PEO. They can liaise with your HR department to help you understand the market you aim for and offer you talent pools for those areas.
2. Have a Scalability Mindset
When you start to put together your plan, consider how your operations and processes might see an impact from bringing new people on board. Can your infrastructure, for example, handle an increase in the number of people working on it? Do you need to think about a growth marketing strategy that matches your impact on a new market?
You might also need to only scale up on a temporary basis. In that case, ensure your contracts and network can handle both the addition of new users as well as reduce that user number without much work. This will allow your HR and IT teams to resolve such changes at the same time as handling their other business.
Try to invest in technology that can handle increased demands, and consider using cloud-based services to help you scale up or down as need be. These can help you reduce the overhead each time such a growth shift occurs.
At the same time, try to consider how a marketing growth strategy would reflect your new emergence. Can you leverage the fact you are growing to show your success and reflect your customers’ burgeoning excitement? Consider using testimonials from new customers to boost your reach and reputation even further.
3. Understand and Work With Local Labor Laws
When you plan to grow in a new area, it is important to understand the local regulations, laws, and traditions. These can cover many different aspects of any expansion, including:
- Working hours
- Employee rights
It may also be useful for you to know how common unions are, as well as your legal obligations related to engaging with them.
On another level, it may even include upholding expectations such as holiday bonuses or other local traditions. While these are not legal obligations, not providing them can impact your reputation and reduce the business you receive.
By working with a PEO with expertise in local law and customs, you can ensure you do not fall foul of either of these issues.
4. Ensure You Can Communicate and Collaborate
As you grow, it will become more and more important for you to implement high-quality communications systems. When working with remote offices or individuals, this becomes even more necessary if you want to remain in sync.
These days, one of the most powerful methods to enable this is to embrace technology. Use instant messaging tools, video conferencing apps, and methods to collaborate on documents. This way, you can ensure everyone is always on the same page no matter what you are working on.
5. Onboard and Train as a Priority
Having people get up-to-speed when they join your company can take a lot of time and effort. You need to ensure people already have as much information as possible before they even set foot in the door for the first day. As such, send them any relevant documents well in advance, and secure an NDA as soon as you can.
If you do not have the time to do this, HR outsourcing companies can often perform this role for you. They can ensure people receive the right training ahead of time, and will often have a good eye for people who can dive into a new role with few issues.
6. Build a Diverse Talent Pool
Not only is creating a diverse team morally a good step but it is also proven to help companies make more money no matter where they are. Make sure to foster an inclusive hiring process everywhere from the people whose CVs you follow up on to choosing who interviews them.
This is also true in other countries, where you may have to consider unique issues. Examples include working with people from a country:
- With a strong legacy of caste discrimination
- Recovering from a recent war
- Experiencing hostility to religious diversity
- Engaging in active political oppression
In these places, you may find unique issues you might not otherwise expect. Finding methods to encourage inclusivity while being aware of such realities might demand that you seek outside help.
Help With Your Growth Strategy
Each of the above can act as a core element in your business growth strategy and help you go from strength to strength. Despite this, it might be that creating and putting these steps in place would take too much time away from your necessary daily work. This is where an organization such as ours can help out.
We work with companies to help with their global expansion. Our resources and capabilities center around offering the best talent, no matter where you want to grow. So, get in contact today to find out what more we can do for you.