Growing a team in the short-term and medium-term. MODULE 8 People & Partners Growing a team in the short-term and medium-term. MODULE 8

8 Regardless of your overall goals, you’ll need to build your capacity beyond you. This module focuses on augmenting your team from outsourcing, subcontracting, partnering and building your own team of employees.

People & Partners

Why grow the team? Provide capabilities outside of your own Gain back time Decrease stress Increase revenue

Team Growth Options Contractors Subcontractors/ Partners Outsource Short-term Subcontractors/ Partners Medium/Long-Term; referral opportunities Outsource Provider relationship Staff Long-term, high commitment

Engaging contractors Where to find them? Golden rules Direct relationships Recruitment agencies – benefits cash flow Advertising Golden rules Make sure there’s a clear, written scope of works If using a recruiter, engage in fee conversations with the agency, not the contractor; also insist upon being open book; know the difference between mark-up and margin Contractors don’t understand fixed fees – expect to get paid for simply showing up

Engaging Partners/Subcontractors Where to find them? Networking events Referrals LinkedIn Golden rules Make sure there’s a clear, written scope of works Make sure payment terms are clearly understood and documented Ensure payment terms align with your business – i.e. don’t mix fixed fees with day rates, etc.

Outsourcing Where to find them? Golden rules Networking events Referrals LinkedIn Online Golden rules Make sure there’s a clear, written scope of works Make sure payment terms are clearly understood and documented – ideally pay on performance Ensure there’s clear metrics to measure performance Ensure you can easily exit the contract

Top mistakes when growing your team Contractors No clear scope Don’t understand fixed fees – expect to get paid for simply showing up Subcontractors and Partners Ownership of the opportunity Brand and relationship management Staff Create to big a gap if you take on people at opposite ends of the experience scale Outsourcing You’ve outsourced a problem that you don’t understand!

Step 2. Agree salary and benefits Taking on staff Step 1. Recruitment Create a Person Specification: a simple table listing skills and determining their priority using a MoSCoW analysis Write a Job Description: more focused on the execution of tasks and the experience and expertise required Determine a Job Marketing Plan: what channels are you going to use to identify potential candidates? Step 2. Assess Step 2. Agree salary and benefits Conservatively define the expected available utilisation and therefore the expected revenue Don’t overspend! Use a bonus scheme to reduce risk Determine the return on investment Assess the risk and opportunity Step 3. Hire Use a probationary period and determine your success metrics. Measure at the mid-way point

Building your team now Complete the following task: 8.1 Taking your processes and methodology into account, identify your potential team growth requirements, and determine the best options 8.2 Create the necessary materials to support the outcome of task 8.1 i.e. Job Description template, agency contract, etc.