When it comes to running a scaling business for the very first time, it’s easy to get overwhelmed, especially when tracking performance. If you’re in this position, don’t be discouraged. This is the perfect opportunity to see if all those countless hours of hard work launching a new business are finally paying off.
One of our Abacum co-founders, Julio Martinez, recently had the pleasure of interviewing Jobandtalent’s co-CEO and co-founder, Felipe Navio. During their interview, Felipe shared some fascinating insights into his personal experience and his approach to organizational growth and performance tracking.
Check out the full webinar here.
Who is Jobandtalent?
Jobandtalent is a workforce as a service platform and an online marketplace that connects part-time workers with companies worldwide. Since its inception back in 2008, Jobandtalent has paired temporary employees with companies from 8 different countries, helping to fill a labor shortage while also improving professional stability. While all these stats are impressive on their own, it might also be worth noting that Jobandtalent recently raised a whopping $500M in their latest series E funding round.
As an industry disruptor, Jobandtalent was one of the very first companies to create a complete workforce on-demand, simplifying the entire process from start to finish. That’s not all. Jobandtalent has added fluidity and flexibility to an otherwise rigid labor market by serving as a centralized hub for both talent and organizations. By focusing on blue-collar workers, Jobandtalent helps stabilize this market sector while assisting with the job application and hiring process.
In this next section, we’ll be taking a look at Felipe’s most insightful advice on how to track success when building a scaling start-up.
Principles to follow when measuring performance
Keeping tabs on performance can serve as the lifeline for any growing business. Whether analyzing metrics or employee performance, being able to take a pulse on your business is what sets a successful organization apart from a failing one. So how can CEOs and founders gain greater visibility into the inner workings of their organization? This section is here to break down everything you need to know.
Below are a few key principles Felipe and his team follow when reviewing organizational performance.
1. Focus on metrics that matter
As an organization begins to scale, it can be incredibly easy to build out endless dashboards and internal processes. While it may seem like this allows an organization to gain greater insight into the intricacies of the business, it can also overcomplicate operational processes. JobandTalent’s founder Felipe found that it was actually more beneficial for their team to simplify the process and shift their focus to the metrics that mattered most. By going back to the basics, Jobandtalent was able to prioritize other initiatives while also maintaining a deep understanding of the health of their organization.
2. Prioritize ownership
How can organizations ensure that no critical metrics are falling through the cracks? By prioritizing ownership, founders at Jobandtalent could rely on their team to be vigilant over key metrics while still maintaining a tight grasp on the organization’s performance. If there were relevant projects that required attention and no one took ownership, those initiatives would never be able to sprout into fruition. So when it comes to the performance of a company, Felipe and his team make it a priority to assign an owner to oversee specific benchmarks. Not only does this shine a spotlight on the right metrics, but it also streamlines analysis and financial planning initiatives.
3. Communication on key levers
At Jobandtalent, Felipe and his team outline key areas to focus on that help them visualize where their business will be in 5 to 10 years down the road. Creating a clear roadmap based on numbers allows senior management to align all teams and pursue a shared goal. By using key levers of metrics as pillars within an organization, teams can then take a more strategic approach to all strategic initiatives such as hiring, business planning, and financial forecasting.
Own your journey
Felipe insightfully offered one last piece of advice for viewers. The most defining takeaway he offered was to own your journey. No matter which way you look at it, there’s no straightforward path to growth when scaling a company. While every new founder should seek advice from their more experienced counterparts, they should use this advice as a source of education rather than a step-by-step guide. By collecting outside advice from experts and learning from personal experiences, founders will be able to carefully craft their very own blueprint to success.