Most companies are excited by the prospect of growth, but it’s important for managers to know how to develop their business as it expands.
As manager you may start thinking to hire more people or moving into a larger office space or more technology such as computers.
Managers also need to remember the less obvious changes like the impact that growth will have on:
- people management
- the culture
- staff retention
In order to keep staff engaged as the company grows there are some key points that managers should consider:
A business structure that complements the culture will help to ensure that staff are being managed effectively. Your business structure should anticipate how the culture may need to change as the company expands. The right structure will allow the business to grow but it is important for management to routinely check that they still have the right plan for optimal for success.
As the company expands, it’s important for employees to feel like they have opportunities to grow with the business. Allowing people to apply their skills in a setting where they will learn the most. Giving employees the chance to take on new tasks is vital in a growing company.
As businesses grow it is important to make sure that people are aligned with the organisation’s goals and understand how their skills fit into the bigger picture.
- Recognising staff
It’s often easier to reward employees for their hard work in a smaller business since a new client win or project completion can usually be attributed to one person. However, as a company grows, it can be difficult to single out individuals for their hard work. A larger business may choose to create separate departments to handle things like new business, making it harder for one person to showcase their skills.
Managers therefore need to balance rewarding individual staff with recognising the wider team’s involvement.
- Succession planning
A small business can grow rapidly which means that some employees may need to take on a leadership role at short notice.
Managers need to keep a close eye on which employees are ready to take on more responsibility. These future managers should be coached and supported when the company is still small so that they are prepared for the changes that expansion will bring. It is also important that the company keeps the door open and regularly looks for new talent from outside the business.
It may seem obvious, but poor communication can easily undo all the hard work that the business has put into managing its staff. Internal communications can often be easier in smaller businesses. As the business grows and employees multiply, managers must be aware of the importance of clear communication.
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