During a phase of rapid growth, don’t focus on keeping a tightly knit workforce, rather focus on keeping a tightly knit mission to dominate the sector, and then align the workforce to that mission. 

To achieve this, do the following three things:

1/ Focus on a core competency

The mission to dominate a sector will ensure the company stays focused on market needs, pushing it to innovate new offers, develop new business models, and clearly define the core competency necessary to deliver ongoing value.  A tightly knit workforce can then be built and focused upon this core competency (e.g. technology, design functions, engineering expertise). 

2/ Make change the new normal

High growth companies are in a state of constant change.  This state needs to be defined and communicated by the business leader as normal, healthy, and lower risk than the status quo.  All sacred cows should be offered up for slaughter as necessary, so the cultural expectation becomes the willingness to change internally in order to dominate the space externally.

 3/ Outsource heavily, hire selectively

Nothing will stall the high growth company faster than the combination of negative cash flow and job loss fear.  Heavily outsource non-core functions, so you can move quickly, focus your limited resources on what you do best, while building and protecting your core workforce during periods of volatility.  Hire only in functions that support your core competencies, and make the retention of your key employees a high priority.

By Eamonn Percy

Business Tip of The Week:
Never take your employees or the culture for granted. Make it a habit to connect with them, and communicate on a daily basis.  This way, they will know you care.  If they only hear from you when things are really good or really bad, it will undermine your integrity as a leader and erode their committment to the mission.

…also from Eamonn: 10 Easy Steps To More Cash Flow