According to NASSCOM’s latest report, India ranks third in the world in setting up startups. It has been mentioned that the number of start-ups in the country has crossed 4,700 in 2016 and India will be home to 10,500 startups by 2020. There is no denying the fact that every startup is built with the objective of becoming a successful organisation in due course of time. But unfortunately, not all startups become highly profitable or successful. Sooner or later, some of these are closed down and while some continue to survive with little or no profits. One main reason for the downfall of any startup is the absence of HR and best practices for building the people of the company.
For any startup to succeed, three essential requirements are:
- A product/service, especially something that is in demand
- A good team of professionals
- Minimum expenses to run and maintain
The most essential of these three requirements is building an efficient team and it is here most startups fail. It is here where the importance and role of HR comes up in the new age business startups.
This is possible in two ways:
- The founding members of the company recruit professionals on their own.
- The new company can seek the help of an HR professional/consultant who can focus solely on hiring and retention.
Though, an in-house HR team plays an important role, the latter is gaining more importance nowadays as an outsourced professional HR team is always more experienced and trained to choose the right applicant for the right job in the organisation.
Role of HRs in startups
Gone are those days when HR was needed just to do the back-end work of hiring people. Today, HR plays an important role as a business partner, advisor, and mentor to a newly set up organisation. Hence, whenever, a new company is set up, the foremost thing is to produce an effective team of professionals who share the new company’s vision and is capable to work hard.
Depending on the freedom and autonomy of the HR team, depending to what extent the new organisation empowers the HR team, it can play a very important role for the success of the organisation. Every organisation goes through 5 stages: introduction, growth, maturity, decline, and lastly there is the stage of death or renewal, which depends on the changes and innovations made in the organisation. To achieve key results, the HR can play the role of a strategic business partner at each stage of this life cycle.
How can GharSeNaukri.com support in “Building the People” of a startup or any other business, big or small?
The foremost responsibility of the HR team is to recruit the ‘right’ talent. This requires creating a dynamic and diverse team which is able to cater to a diverse consumer base. We as HR consultants identify the needs and can source and attract the right talent which is more defined and tangible. We can hire employees in line with the organization’s strategy.
- We invest a lot of time in understanding not only the business model but also the in-progress technology road map and revenue generation model and then concentrate on proper resource planning.
- Our experts have more knowledge on the latest trends in the job market. It explores various incentives and motivations in terms of salary, perks, benefits, etc. to come up with talent attraction and retention. That is why, we have the reputation of being the most reliable platform for providing jobs for women.
- We maintain a steady and active network of female job aspirants for future needs.
- We help to define, create and sustain the organisational culture and the work culture that the business house plans to create.
- We assure a clear channel of communication between the employer and the employees, so as to avoid unwanted confusion or clarity on priorities.
To sum up
Without a proper well-defined process and procedure, any company, whether a startup or a large enterprise can go haywire. Our HR team can frame processes, policies and procedures from the top management to junior management, making things more simple for the employers. Our competent HR team will always be a great asset in helping the newly set-up organization or larger enterprise to achieve what it wants to with minimal disruption.
Let us help you in building the people or the team for your company. Get in touch with us with your specific HR needs and we will come up with strategic workforce solution.