Article: The important role of HR Advisory in Start-ups

Entrepreneurship

The important role of HR Advisory in Start-ups

The new start-up environment in the business ecosystem demands for the most innovative people to be part of any company. Every start-up requires a unique thing to be successful and to sustain the severe competition in the market a start-up must hire and retain the best of the people, and here comes in the role of an HR Advisory.
The important role of HR Advisory in Start-ups

Start-up culture has been prominent these days. Every entrepreneur dreams of raising, nurturing and growing his start up to one of the big organizations. They build up a team with dynamic, qualified and adaptable people. Hire the best in their team and streamline the operational process. 

Another important aspect these new age start-ups focus upon is building up the best possible customer service and marketing strategies. And then comes up designing the new age attractive and employee friendly environment.

The new start-up environment in the business ecosystem demands for the most innovative people to be part of any company. Every start-up requires a unique thing to be successful and to sustain the severe competition in the market a start-up must hire and retain the best of the people, and here comes in the role of an HR Advisory. 

Failure of start-ups such as Pepper tap, FabFurnish and struggle of startups such as Food Panda, TinyOwl, and Local Banya signifies the level of competition in the market and poor strategy of start-ups. In such a crucial time, when level of competition is too high and only thing that can make a difference is the manpower, need of HR advisory becomes very important. 

Few pointers which signify the importance of senior HR advisors in the start ups are as follows:-

Creative & Innovative Entrepreneurs lacking Experience to Handle People 

Most of the promoters of these fancy start-ups with innovative ideas are young. They are dynamic people passed out of tier 1 colleges, but they lack experience in the field of hiring, training, and retaining people. This is an art which can be learned by people who are experienced in the industry and have worked as senior HR leaders. Hence an HR advisory can assist in bringing in the best of people on board.

HR Strategies – Not a Piece of Cake

Formulation of HR strategies is not a piece of cake. It requires a lot of study, continuous focus on company’s overall business strategy, Understanding the mission and vision of an organization and then judging and formulating HR strategy. An experienced HR advisor having an experience of synchronizing the overall organization goals and HR goals can be of great help in formulating and documenting strong as well as effective human resources strategies. 

A Third Party – Free from Bias

HR advisory being a third party is free from all kind of bias, these advisors can give the best possible way out for any company stuck with issues related to manpower. HR advisors can be straight forward and avoid favoritism and protect an organization to enter the decline mode. 

Avoid Mass Lay Off – Due to Failed Hiring Strategy

Mass hiring or hiring when business is on its peak is the biggest mistake any company does. Example of layoffs at Zomato is well known in the business world. This makes a negative image of organization in the industry and hence these companies are not able to attract the best talent. If senior Human Resource advisors are brought in they can always formulate effective hiring strategies rather than going for hiring in an unorganized manner.

Change Management – Leading the Change

Start-up ecosystem is changing every day, some day there are high demand for hyper local startups and other days comes with the news of non operational start ups such as pepper tap. In this rapid changing business ecosystem organizations also need to change swiftly. During this change HR advisory can be made the leaders. They can carry the baton of change and help the employees to accept the change. 

Bring in Advisors then Hire In-house HR

Any start up may hire HR and expect the best from him. Companies may expect the in house HR to frame the policies, document them, bring in people, retain, train and maintain a friendly work environment in the company. But before that a strong foundation is needed to be build up, which can only be laid by powerful experienced Human Resources leaders. 

We all know that Indian business ecosystem is experiencing flood of startups where every youngster with an idea wants to become an entrepreneur and turn his/her idea into a successful organization. But the concern is how many of them will survive?

For success of any startup a team, i.e. the people play an important role and bringing in these people who can work in line with the strategies of the company becomes a crucial activity. 

Human Resource advisors here can be of a major help and pump in the air when it is most required by the organizations.

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Topics: Entrepreneurship, #HRIndustry

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