- September 29, 2012
- Posted by: essay
- Category: Free essays
The employment of well-qualified and prospective professionals can be crucial for the development of business. In actuality, human resources constitute important assets of any company, but they are particularly important for small business, where the qualification of employees is crucial for the overall success of a small company. In such a situation, the process of recruiting of new employees should be very carefully planned in order to avoid possible flaws, such as professional incompetence, neglect, weak control system.
In fact, before starting a business, it is necessary to create a clear action plan which can define the development of the organization. First of all, it is necessary to start with the definition of sources of financing business. At this point, it should be said that, today, it is possible to use various sources of funding the launch of a new business. In the contemporary business environment, it is possible to focus on the use of bank credits to start the new business because it is quite a reliable source of funding since banks can provide the company with the needed sum of money in a short of period of time. Otherwise, it will be difficult to raise funds fast to launch the business efficiently. However, it is possible to consider the use of hedge funds capital, but this source of funding is not recommendable because of the necessity to provide a share in business to the hedge funds funding the company. Hence, it is necessary to count for a bank credit as a major source of funding of the new business, but it is possible to maintain contacts with a hedge fund, in case of lack of financial resources provided by the bank.
After that it is necessary to focus on the recruitment of the personnel ably to perform efficiently. In this respect, it is important to employ experienced professionals who can able to maximize the organizational performance due to their extensive experience. To meet this goal, it is necessary to analyze the past experience of applicants. At this point, it is important to know not only where and how long they have worked before, but it is also very important to known what they have actually done to improve their work. For instance, the applicants can be asked to describe their progress within other companies they used to work at. In such a way, it would be possible to understand the extent of their experience.
In addition, this will allow understanding the attitude of applicants to their work. Hence, it will be possible to define whether the applicants tend to neglect or not. In actuality, if the applicant was steadily progressing and looking for new options, it is obvious that he/she is unlikely to be negligent because they are concerned with their professional career, while if they failed to progress in other companies, they are likely to stumble at the new workplace too.
In such a context, the problem of weak control systems is probably the most significant because the lack of control can undermine the performance of the company, even if only well-qualified professionals are employed. In this respect, it is necessary to introduce a system of regular reports where employees will inform the owner on the qualitative improvements of their work. In addition, it is possible to organize meetings weekly or monthly where the performance of each employee is discussed and evaluated not only by owners, but also by other employees.