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People Management

Under construction

Evaluating the team

 

This is just an outline at this point

 

Need material & tools for self evaluation and for evaluation of the team.

 

Need guidelines for constructing a management team, assessing skill needs, hiring, etc.

Team
Competence
Ø      Technical background
Ø      Management experience
Ø      Network / contacts
Ø      Track record
Decision making
Ø      Must be clear, consistent, competent
Ø      Requires a process
Ø      Hard to implement without clear authority
Character
Ø      Motivation
Ø      Energy
Ø      Self - critical / honesty / listening
Ø      Integrity
Leadership
Ø      Character
o       Inspiration
o       Integrity
o       Fairness
Ø      Intellectual capabilities
o       Competence
o       Decision making
Ø      Personal bond
o       Loyalty
o       Concern
o       Trust
Ø      Leadership is relative: picking the right team is essential for success.
Complementary skill sets
Ø      Careful analysis of skills needed based on what needs to be done (and also what is firm’s competitive position)
Ø      All firms have a diversity of skill needs
Ø      Experience is important in a start-up: danger of having employees facing problems or issues for the first time
Ø      Founding team should get help.
Culture
Ø      Elements: results orientation, teamwork, openness, pace, accountability, …
Ø      How is it achieved? People, modeling, rewards, …

Outsourcing vs internal
Ø      Decide what is core to your strategic advantage and do that internally. You do not have to be good at everything.
Hiring plan
Ø      Staffing plan:
o       Skills & experience needed,
o       Numbers & timing
o       Compensation ranges per position (salary, equity, benefits) based on market
Ø      Hiring process:
o       Sourcing of candidates
o       Evaluating candidates (who is involved & how decisions are made)
o       Exception handing
Ø      Decide what is core to your strategic advantage and do that internally. You do not have to be good at everything.
Managing downsizings
Ø      Two approaches:
o       What can I cut? (Current budget is baseline.)
o       What do I need? (Baseline is 0.)
Ø      Good planning and flexible skill sets can reduce the probability that downsizings will be necessary, but there is always uncertainty.
 


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