Are you ready to hire employees? How are you finding A-Players? When you find and hire these A-Players, how do you keep them?
I would like to recommend “The Founder’s Dilemmas” By Noam Wasserman. This is an important read for anyone looking to hire and keep hard working employees.
Wasserman states that “The dilemmas that founders face in choosing new hires, like those they face in choosing cofounders, fall into the Three Rs framework 1) Relationships (who to hire) 2)Roles (what positions to create or upgrade, when to do so, and what types of people to hire into them) 3) Rewards (the compensation and equity used to attract and retain hires).
Who to hire is the question? Where to find these employees? Do you want to hire friends and family members? Or do you want to hire people you don’t know? All of these are important questions to ask and answer before looking to build your team.
Hiring friends and family members might not be a good fit for everyone. If you do hire these types of people, what happens if it doesn’t work out for your business? As, I look forward to hiring people for my business, I’m going to be very careful about not mixing family/friends with business. I might have to start here and hope it works out! If you hired friends and/or family members, how is that working for you?
When do you know when you are ready to hire and fill new positions? Have you considered upgrading current positions? Do you hire Generalists or Specialists?
Wasserman says (page 224) that each time a startup hires a new employee, it faces a choice between hiring a specialist, who can usually be counted on to do a specific task well, or a flexible generalist or jack-of-all-trades, who cannot do any particular task as well as a specialist could but can move across multiple tasks more effectively than a specialist could.
I say that it depends on what you need to accomplish for your business. If you have those specific jobs/tasks such as accountants, IT then I would say you need to hire those specific people. If you are hiring general employees than yes they can be jack-of-all-trades and be better at multitasking and accomplishing more.
How do you keep your A-players? Hiring great employees is key, but keeping them is essential to your business. In what ways do you reward your best employees? From past experience I know this is an important upper management duty. You have to keep your employees happy. This reminds me of the quote “Happy wife, Happy Life”. 🙂
I would love to know how you hire or plan to hire employees.
Sources: “The Founder’s Dilemmas by Noam Wasserman”