Points of View - Inner
Seven Insights: Best Practices to Manage Organizational Hyper-Growth
Companies usually pay close attention to the strategic side of hyper-growth, how to grow and where, yet many underestimate the importance of the organizational changes needed to support their growth strategy. Effectively addressing organizational weaknesses during the implementation of growth strategies can give companies a significant competitive advantage.
Define an organizational growth strategy
As your organization grows, structural gaps in roles will occur. Identify and define the new middle management levels needed to support your growth and develop a plan to fill these roles.
Actively pursue succession planning
Through succession planning you will hire exceptional employees, develop their knowledge and skills, and prepare them for more challenging roles within your organization. This ensures that you will never have a key role open for which an employee is not prepared to fill.
Invest in your employees so they get invested in your growth and future
Investing in your employees is the foundation of creating an engaged workforce. Develop and implement an employee development program that includes personal and professional development opportunities, team building activities, and benefits and perks that matter to them.
Attrition will happen, plan for it
Assess how your workforce is changing and get ahead of the trend before it becomes a problem. As part of an attrition plan, understand employee’s roles and responsibilities and identify other team members within the organization that can temporarily fill key roles.
Develop a process to manage transition
Managing employee transition well is difficult. Implement an onboarding process to educate new employees about your organization’s culture and business, define roles and responsibilities, and build clear processes for knowledge transfer.
Foster a knowledge management and sharing culture
Have a methodology, process or strategy in place for the consolidation of key work products, processes and documents that support knowledge transfer.
Invest in tools and technologies to support your organizational growth strategy
As your organization grows and your teams change, you will need more sophisticated systems and processes to support your brand promotion, recruiting process life cycle, and talent development and management.
About the Author
Sandra Miranda is a Sr. Consultant at Kenny & Company. Sandra has over 10 years of experience providing Process Development, Program Management, Project Management, and Business Strategy services. Sandra holds a Master of Business Administration from Instituto de Empresas Business School, Spain; and a Bachelor of Science in Chemical Engineering from Universidad Metropolitana, Venezuela. She also has a PMP certification and a Scrum Master certification.
About Kenny & Company
Kenny & Company is a management consulting firm offering Strategy, Operations and Technology services to our clients.
We exist because we love to do the work. After management consulting for 20+ years at some of the largest consulting companies globally, our partners realized that when it comes to consulting, bigger doesn’t always mean better. Instead, we’ve created a place where our ideas and opinions are grounded in experience, analysis and facts, leading to real problem solving and real solutions – a truly collaborative experience with our clients making their business our business.
We focus on getting the work done and prefer to let our work speak for itself. When we do speak, we don’t talk about ourselves, but rather about what we do for our clients. We’re proud of the strong character our entire team brings, the high intensity in which we thrive, and above all, doing great work.
This article was first published at michaelskenny.com on October 23, 2017. The views and opinions expressed in this article are provided by Kenny & Company to provide general business information on a particular topic and do not constitute professional advice with respect to your business.
Seven Insights: Best Practices to Manage Organizational Hyper-growth by Sandra Miranda, Kenny & Company is licensed under a Creative Commons Attribution-NoDerivs 3.0 United States License . Kenny & Company has licensed this work under a Creative Commons Attribution-NoDerivs 3.0 United States License.