Startups - Finance and HR Management
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Transcript of Startups - Finance and HR Management
What Will Frustrate Start-Up Companies in Hiring Staffs?
• Lack of talents interested with start-up companies
• Financial Inability • Low Employer Branding • Difficulty to find employees
with right attributes for start up and culture fit
TYPE OF TALENTS TO HIRE ?
• Self driven/motivated • Strong work ethic • Passion w/ the business • Creative, innovative • Strong energy and
endurance • Adaptable with
company’s situation (limited resources)
• Fit with the company culture
How to Attract Talents ?
• Story Telling ! Tell about your business vision, products, dream, plan, your strength, fund raising activities and align these with their career aspiration. Your historical success stories will be more convincing too.
• Start & Focus on particular communities, and create strong connection and quick employer branding there
• Allocate more committed time in hiring, everyday is “hiring day”
Big Question: How can young entrepreneurs hire someones more senior professionally and also in term of age?
Share business plan
Provide career path & enough
challenges
Recognition & rewards
Creative pay scheme & benefits
Space for personal life
STRONG BUILDING BLOCK OF YOUR ORGANIZATION: - BUSINESS PLAN - ORGANIZATION STRUCTURE - GRADING SYSTEM - JOB DESCRIPTION - KEY PERFORMANCE
INDICATORS - POLICIES, SYSTEM &
PROCEDURE - C&B - BASIC HR COMPLIANCE
HOW DO RETAIN GREAT TALENTS ?
…personally…
Basic HR Compliance
Understanding the basic labor law and do execution:
– Creating “legal” employment contract
– Having HR Company Policy
– Fulfilling minimum requirement in compensation & benefit: overtime payment, social security (BPJS) expenses , medial insurance expenses, THR.
– Employee termination process
– Reporting process to regulatory body, and ensure the check list is “done”
Liquidity Cycle – Michael Dell
Liquidity
Profitability
Growth
We all need cash in the business : • To start the business • Company operation: operational
expenses, including salary, production cost, etc
• Pay your dues: vendors, tax • Grow the business: hire more people,
renting more space, more working capital
• Pay your creditors • Pay the dividend to shareholders
Lack of cash in serving company’s commitment might lead to : business bankcrupty (financial distress), lower motivation of staffs, vendors and even shareholders.
Noted: this simple concept is inspired from Michael Dell’s book: Direct from Dell
Where do you get the cash ?
• Organically, through business revenue and collection
• Profitability, which enable the company to grow organically
• Get loan from creditors
• Raise fund from investors. In relation with start up, they may raise money from individual investors (parents, relatives, colleagues), angel investors, venture capital or private equity company
Accounting, Tax and Planning
• Statutory Accounting
• Tax Compliance
• Payroll Administration
• Business & Financial Planning
We are executive search company, incorporated in 2002, serving mainly our clients in Indonesia, ASEAN
countries and other Asia Pacific region. Industrial expertise: FMCG, Pharmaceutical, Technology, e-
commerce, Telecommunication and Manufacturing. Hiring manager – director level for top multinational
companies
DHARMA HASIBUAN & ASSOCIATES
Dharma & Hasibuan, has been providing accounting services for our international and local clients for more than a decade. This kind of service enables our clients to focus on their core business, while DHA will take the function of accounting, tax compliance, payroll and financial planning. Our
motto is “Don’t Hire Your Own Accountant”