Most small to medium-sized businesses operate with growth in mind. Whether internal or external, growth often leads to a larger customer base, increased income, and greater stability, which all contribute to a company’s chance of success.
However, many companies find that planning for growth and experiencing growth present two very different sets of challenges.
Here are some tips any company can take to help ease growing pains as the business expands:
1. Add Structure:
Company growth means more work; make sure your business is structured accordingly. This may mean adding additional staff, creating new management roles, or changing how duties are assigned among departments. It is also imperative that you lay out defined, documented processes to ensure consistency as your staff grows.
Growth can lead to stress throughout an organization. Your team is less likely to become overwhelmed if there is an open channel of communication between employees and business leaders, allowing both parties to share ideas and offer feedback during periods of growth. Do not forget to monitor the effects on your clients, who can also feel the strain of business expansion.
3. Keep Mission in Mind:
When your business is growing, it’s easy to get caught up in day-to-day obstacles and triumphs and lose sight of your overarching purpose. Take time to reiterate your organization’s mission through company-wide meetings or activities, or on a small-group basis, and address how growth contributes to that mission.
Sometimes companies do not have the capacity to keep up with growth on their own. A strategic outsourcing partner such as Nextep can handle employee-related administration, allowing leaders to focus on the goals and direction of the business.
Growth can be an exciting and demanding experience for businesses of all sizes. Nextep is able to assist our clients during periods of growth in several areas, including hiring, customized policy and procedure creation, communication consultation, electronic file management, and more.
Please contact Nextep’s HR Department for guidance on managing growth within your own organization.