Determining Which Management Team Members are Necessary
- Examine the state of your company. This will help you understand what kind of management team you need. For example, if you have recently hired many employees, a Human Resources Director may be necessary.
- Construct an organizational chart. This will help you identify gaps in leadership.
- Leave room for growth. Keep empty spaces in the org chart to accommodate changes in the near future.
- Understand your own weaknesses. If you lack sales skills, you will need a strong Sales Director on your team. If accounting is not a strength, you will need a Chief Financial Officer or Finance Director.
- Be willing to include managers who are better than you at certain things. You will need to put your ego aside for the sake of your business.
- Ask for help from your professional network.
- Get input from your partners, senior employees who have been with you since you started the business, or colleagues from previous places of employment. Listening to a wide range of opinions will help you determine who you really need on your management team.
- Put together a board of advisors. Even if your business is small, having a group of advisors you can regularly rely on will help you learn to take input from other business experts.
Recruiting Members of your Management Team
- Promote from within. If you have a few employees who know your company well, consider which ones have leadership potential.
- Talk to the employees who you think might make good members of your management team. Discuss their level of interest and your overall vision for the organization.
- Look for talented leaders in your industry, or the area of expertise in which you need a strong manager.
- Remember that your field can be taught. For example, if you run a construction company and you need a strong Marketing Executive on your Management Team who can help you increase visibility and business, you do not necessarily need someone who is an expert in construction. If he or she is an expert in marketing, the construction business can be learned.
- Network. Look for potential team members at professional networking events, or go online and review profiles on LinkedIn or other professional social networks.
Get professional help. If you have a good idea of the position you want to hire for, but no idea where to look, invest in the skills of a professional headhunter or executive recruiter.
Developing your Management Team
- Set up meetings. Once you have your management team assembled, meet with your managers individually and as a group.
- Explain your expectations. The members of your newly formed management team will need to understand clearly their roles and responsibilities.
- Consider developing a strategic plan. Your management team will likely be tasked with staying on top of the day-to-day operations of your business. Long term planning is also key.
- Take advantage of having the added talent. You may have come up with the mission, vision and goals for your company when you first began it or took charge of it. Your management team gives you additional experts who you can call on to contribute.
- Delegate the necessary tasks and responsibilities. Do not be afraid to give up some of the things you have had to manage out of necessity.
- Make sure you give your management team the necessary authority. Managers do not perform well if they have a lot of responsibility, but no authority.
- Trust your management team to make good decisions and oversee their respective departments properly.