Entrepreneurship Building the New Venture’s Human Resources: Recruiting, Motivating, and Retaining...
-
date post
19-Dec-2015 -
Category
Documents
-
view
220 -
download
0
Transcript of Entrepreneurship Building the New Venture’s Human Resources: Recruiting, Motivating, and Retaining...
Entrepreneurship
Building the New Venture’s Human Resources: Recruiting, Motivating, and
Retaining High-Performance Employees
13
13-2
“Surround yourself with the best people you can find, delegate authority, and don’t interfere.”
--Ronald Reagan, 1986
13-3
Ultimate Success
Success for new ventures…• derives from a smooth and orderly
shift…• to a state in which the entrepreneur
has assembled a first-rate team of employees…
• to whom she or he can delegate many of the growing venture’s key processes.
13-4
Attracting, Motivating, and Retaining Employees
Why are these topics important?• In the early stages, you perform
them.• You can place your personal
“stamp” on these processes.• When it’s time to delegate, you’ll
choose the best people for the job.
13-5
Recruiting and Selection
The search for high-performance employees begins with two questions:
• Where should you search for high-quality employees?
• What specific techniques should you use to identify the best among them?
13-6
Knowing What You Need
• Job analysis—what knowledge, skills, and abilities are required?
• Job description—an overview of what the job involves
13-7
Beginning the Search
• Social networks
• Trade journals, newspapers, etc.
• College and university employment centers
• Internet sites
• Current customers
• Headhunters
13-9
Employment Interviews
This selection technique is low in validity because:
• Interviews are largely unstructured
• Interviewers may ask different questions of applicants
• Interviewers may be biased
• Assessing others is more difficult than most people realize
13-10
Improving Interviews
The validity of interviews can be improved with
• Structured interviews
• Biodata
• Reference checks
13-11
Motivation
Behavior that is energized by, and directed toward, reaching some desired target or objective
Arousal Direction Persistence GOAL
13-12
The Role of Goals in Motivation
Goals must be
• Challenging
• Attainable
• Specific
• Accepted
• Reinforced with feedback
13-13
Expectancy Theory
People will be motivated when they believe that
• Expending effort will improve performance
• Good performance will be rewarded
• The rewards offered are the ones they really value
13-14
Maintaining Motivation
• Provide the training and resources necessary to ensure that effort leads to good performance
• Recognize and reward good performance
• Provide the rewards employees really value
13-15
Fairness and Motivation
• Unfairness leads to a strong drop in motivation.
• Unfairness is perceived when there’s an imbalance between contributions and outcomes relative to those of other persons.
13-17
Playing Fair
• Link rewards closely to performance
• Establish fair procedures for employee evaluations and rewards
• Treat employees with courtesy and respect
13-18
Making Jobs Motivating
Job design—structuring jobs so they increase people’s interest
• Job enlargement
• Job enrichment
13-19
Retention Strategies
• Developing excellent reward systems
• Building a high level of commitment and loyalty among employees
13-20
Pay for Performance
• Merit pay plans
• Bonuses, awards, and stock options
• Team-based incentives
• Profit sharing
• Employee stock ownership plans
13-21
Organizational Commitment
The extent to which an individual identifies and is involved with his or her organization and is, therefore, unwilling to leave it
13-23
Phases of Company Growth
• Conception/existence
• Survival
• Profitability and stabilization
• Profitability and growth
• Take-off
• Maturity