FOUR INVESTMENTS EVERY GROWING COMPANY SHOULD BE MAKING
Successful companies invest time and money to outperform the competition. Here are four investments that I believe that can make a big difference to your profitability and growth… And next week I’ll share another four.
1. Internal Recruitment Manager – If you are looking to take on a number of hires then, depending on your hiring strategy, a full time or part time internal recruitment manager is worth their weight in gold. They will save you time handling the whole recruitment process; sourcing talent for your company (speaking with recruitment companies; talent mapping; ad writing and managing responses); conducting first stage interviews so you only get to see the cream of the crop; managing offers; and onboarding talent.
2. CRM tool – There is a choice of CRM tools (including sector specific ones) available. If you haven’t already, then research them and pick one. A well maintained CRM system will improve your stakeholder relationships deepening them and building your reputation as well as improving business continuity when staff go on holiday or leave. Communicate to your team why populating the database is so important! The CRM system will also give you the data to measure performance of different activities and the means to market effectively.
3. Have a clear written plan with financials – Almost every blog post I have written refers to planning and targets – there’s a reason. That way the decisions you make are likely to be the right ones to achieve your objectives.
4. A non exec director / board advisor – How can you be sure you are making the best decisions for your company? Working with someone who has been there and done it across numerous companies will help you to get key decisions right and to avoid expensive, time-consuming bad ones. An experienced non-exec can make a dramatic impact to your growth.
In my next blog I’ll share another four things that I would suggest you consider integrating into your strategy. They will be: Big data principles; Google Analytics; Remote working; and a marketer.
Feel free to contact me about MyNonExec service and find out how the 30+ company boards I advise are outperforming their markets.