May is a buzzing month the Scale-Ups.eu community with a handful of exciting news and key insights on talent.
Congratulations to Award Winners
Collibra took home the ‘Best GDPR Vendor Solution’ award at this year’s RegTech Awards of A-Team Group
iText is the national winner of The ELITE Award for Growth Strategy of the Year
Vente-Exclusive won the “Home, Garden & Animal” BeCommerce Public Award
Scaling in Full Swing
Unified Post just scored a €25 million funding round in April. With this new capital injection, they will accelerate their international growth and expand the implementation of their solutions
Key Insights from Putting the Right People in the Right Position
Scale-Ups.eu hosted its second meetup on May 31st focused on ‘Putting the Right People in the Right Positions.’ This is an incredibly timely topic, as scale-ups often need talented people to grow faster and support their expansion!
With 30+ executives from 20 companies, Scale-Ups.eu had the pleasure to welcome the following HR experts: Conny Hooghe (HR Director Materialise), Stijn Van Loo (Managing Partner We Belong) and David Du Pré (Director EMEA Secure Code Warrior, ex-VP EMEA/Sales Showpad). The panel was moderated by Vincent Stevens (Partner at Headlight).
Is it better to hire externally or grow from within?
Materialise CEO Fried Vancraen is a big fan of homegrown management as it has been statistically proven to be the leadership strategy of most successful companies. Yet Conny Hooghe says that “in order to have an excellent succession management plan, you need to invest in the development of candidates in order to put the right leaders in place.” Unfortunately, some leaders are lacking the managerial skills to bring the right structure and processes in place. In this case, it’s better to hire externally as sometimes the candidates next in line may be too immature for the succeeding challenges.
David Du Pré also warned about the “Peter Principle” where employees get promoted for a position where they don’t have the right capabilities for. Instead of motivating the employees, this only sets them up for failure. He quickly added that it is important to look at culture fit when you’re hiring externally and to also be mindful about which stage you’re hiring the talent for.
How to tackle performance management?
Stijn Van Loo boldly suggests getting rid of annual performance reviews immediately and plan for recurruing 1-on-1 sessions. David Du Pré added that this is becoming more important, as millennials want constant feedback and ongoing opportunities for learning and growth. This is where HR technologies come in - such as that of our member Intuo’s – as they help you scale such activities.
How to stand out in hiring?
As most scale-ups are aggressively hiring, it’s not a surprise that they’re looking at finding the best talents from the same pool. It is important to make sure your company stands out in hiring. Conny Hooghe emphasizes the importance of a good mission, as it is important to a lot of candidates, more than working in an agile environment and with cool technology.
David Du Pré disagreed by saying that “People are inherently selfish and they only want what is best for their career. The more you highlight the growth opportunities and by empowering them to define their own career path in the company, the more the good candidates are likely to choose for your company.”
Other practical tips from our panel members:
- To set people up for success: Create trust within the team, clearly state what the team’s objectives are and make sure that expectations are set & understood right from the start.
- Make sure to create a good candidate experience, as it is the key to getting good people to work with you. How do you do this? By sharing feedback to the candidate, communicating the process upfront and doing things fast.
Our next meetup will be at SuperNova on September 27 in Antwerp.
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