Saturday, June 23, 2018

STARTUP SPECIAL...... For Startups, it’s Essential to Balance Sustainable Growth and Co’s Culture


For Startups, it’s Essential to Balance Sustainable Growth and Co’s Culture

Being in a startup is like riding a roller coaster. A small team where everyone is driven to play their part, racing against time and working towards one common mission with immense excitement and enthusiasm.
In a volatile and tough business environment, as the startup scales up it gets increasingly consumed with the math of business performance, profitability and improving margins, striving to be successful at any cost. Amidst these challenges and in pursuit of ambition and survival, most emerging businesses realise the importance of talent as flag-bearers of the positive image of the company, but may not invest time nurturing this positive voice. As the business matures, every startup is faced with concerns of sustaining the initial euphoria and attracting and retaining its top talent.
So, what does work culture mean for a startup as it metamorphoses to a sustainable business?
As startups become scalable businesses, it is imperative to strike the right balance between sustainable growth and a culture that reflects the company’s values. While it sounds simple, many emerging businesses struggle to find this balance.
Beyond the glitz and glamour of a shiny open-plan offices, recreational rooms, sleep pods and free meals, work culture comprises of something much more. Culture is not accidental, it is something which leaders discover, craft and foster and is the heart and pulse of any organisation. As the war for talent intensifies, having the right talent on board coupled with a unique employee value proposition are the cornerstones of a great work culture.
Here are a few aspects that can help shape work culture as a business hits the path of success and sustainability: 

Building the culture story: 
As startups make their journey, defining an organisation culture often becomes a buzzword, which some founders just tick mark. The birth of an organisational culture stems from the vision of the founder and encompasses the purpose, ethics, values and guiding principles of doing business. However, culture should be beyond just defining values - it is about bringing them to life. For example, recruiting candidates not just for competence but those who display these values, recognising not just the business milestone but the daily stories of living these values.

Think big, stay small: 
It is imperative that growth should not compromise on cohesiveness and agility of a small firm where all employees collaborate and chase a common vision. The size and scale of an organisation should not kill the entrepreneurial mindset of employees, but build responsive teams comprising individuals contributing to company’s core vision. For example, institutionalising policies as the company becomes larger is key, yet the agility to deal with unique situations. Structuring teams at the right levels, optimal spans of control, decision rights and accountability are some elements of organisational design that needs to be reviewed periodically without seeping in bureaucracy or maintaining too much control centrally.
Focus on learning and development: 
In a challenging business environment, learning and upskilling is a constant. While large-scale companies continuously invest in structured L&D programmes, for startups this is viewed more as a cost centre. Another area where startups struggle is to identify interventions areas for its mid and top management. The most successful startups are those which early in their life cycle invest in its talent by making time rather than budgets and develop programmes. With a mix of online and classroom programmes, investing in development interventions helps defining skills required for a good leader, but also acts as a powerful tool to retain employees and create evangelists are workplace.
While firms often assess success basis the glory of new business, the victory of overcoming market challenges, the soaring revenues and profits, it is however the people that make winning teams and organisations. This recognition and acknowledgement is key in building a sustainable business.
VISHPALA REDDY
Regional HR director APAC, Uber
ET 13JUN18

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