Company growth is often hailed as the ultimate fulfillment of company purpose. Increasing the number of shareholders in your vision elevates company brand and opens doors. While expansion transports a company to a new horizon, maintaining culture and strategy are often challenged during the transition period.
How can a full-grown company still operate as a start-up?
Ensuring that your company is growing in the right direction is crucial to development. While hiring more employees usually indicates growth, a larger team does not necessarily equal higher productivity. Forbes lists one of the largest challenges of quick growth as being a lack of skilled employees needed to continue to drive revenue. The President of Diversified Industrial Staffing, Todd Palmer, discusses how “companies battle for talent every day.” This struggle for competency is elevated when your company needs to acquire a much larger amount of new, capable employees.
In addition to searching for talent, companies much also consider fit. Enlarging a company can disturb internal culture. The large companies hailed for achieving the best corporate cultures, such as REI, Facebook, and Apple, are often inspired by small-company camaraderie. Many of these corporate offices offer employees a variety of clubs, exercise classes, happy hours, and free food, encouraging workers to forge friendships and interact as they do in a small office environment.
Talent shines the brightest in positive collaborations.
Misalignment is a common side effect of company expansion. It is necessary for a company to prepare for the changes before they occur. With the addition of locations, it becomes more difficult, but increasingly important to coordinate. Plan on implementing more advanced tracking systems, defining and discussing company strategy, and remaining true to the original purpose.