How to Build the Best Team for Your SME

Feb 12, 2016 Blog  RainFin , SME
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Sustainable growth is essential for any SME and to achieve it, you need to have a strong team around you.

Are you spending your evenings and weekends working? Are you falling behind on your punctuality or productivity? These are all signs it is time to start growing your team.

But you shouldn’t hire just anyone. Making sure you hire the right people for your business and your team is vital. They should be collaborative, hard-working, committed to the same goals and capable of making money.

Here are a few things to keep in mind when you’re building your team.

Personality

One of the most underrated, yet vital things to consider when hiring new staff is personality.

Every team and every organisation will have its own culture – usually dictated by the work, the boss and what their vision for the company is.

When you’re hiring someone to work for you, always ensure that their values and personality align with your own. Hiring someone with loads of experience working in your industry might seem like a good idea. But if they’re from a straight-laced and serious background, and you and your customers are used to a more upbeat and personable service – you might have trouble making the relationship work.

In the same way, if you prefer your staff to be highly professional and business-like, but you hire the class clown – it’s unlikely either of you will be happy with the arrangement.

Play to Strengths

Look at your existing staff force – or if it’s just you at the moment, look at yourself.

Everyone has their strengths and their weaknesses. If you’re building an effective and efficient team, you need to hire people with a variety of skills and abilities, that can complement each-others work.

Let’s say you have an employee who has been working for you for years. They’re fantastic at their job, but they are uncomfortable when they encounter an unhappy customer, what would you look for when you hire someone in the same position as them? Naturally, you will want another excellent employee. But looking for someone who perhaps has less experience in the job, but more experience dealing with customer complaints, will help balance your team.

Balance

How to build the best team for your SME

Group dynamic is everything if you are working within a team. If you want to keep turnover to a minimum and ensure your team are all working to drive growth for your business, you have to be sure you have the balance of personalities right.

Four personalities to look for:

– The Doer: A leader type. Dominant and action driven, this is the risk-taking member of the team.
– The Thinker: Analytical, thoughtful and detail oriented, this person knows your business inside out.
– The Organiser: Solid, dependable and loyal – this team member is cooperative and patient.
– The Nice-Guy: Optimistic, emotional, charming and persuasive – the essential glue in any team.

A balance of these four personalities (although everyone will have elements of each one within them) will help create a team that can work its way through any problem.

However, hire too many of the same personality type, and you could end up with too many ideas and not enough action; or a lot of discussion without much being achieved.

Invest in Talent

How to build the best team for your SME

If you already have the right people, but they’re lacking the necessary skills to take them to the next level, don’t be afraid to invest in training.

Knowing what you could gain from retaining good staff members and giving them the training they need to become great staff members all comes down to your record keeping.

How much would hiring another member of staff cost you? If your current employee becomes frustrated because they’re not progressing, or offended that you’re hiring above them – what would it cost you to replace them? And what would it cost to train their replacement?

If you’re building a team for your SME you know how important it is that you make the right decisions. Taking on new employees, or training existing ones is an investment and if done properly can help propel your business to new levels of success.

If you need financial help to hire new staff, or to train your staff force, why not consider applying for a RainFin loan? You can get competitive rates, a fixed monthly repayment for terms of 12, 24, 36 or 48 months, with no early repayment fees.

To find out more, visit https://rainfin.com/About/Business.

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