The Expert Panel
Murray Vines, Organizational Psychologist, Vines & Company Organizational Psychology, Calgary
On the Approach: They leveraged their network to locate the management resources they required – very effective. Between Spicer and Schuler, it sounds like a good combination in terms of a mix of skills and competencies.
Red Flags: Innovequity brought in voices of experience to temper the inexperience of youth, and that can work beautifully. Or, it can lead to a situation where they can’t understand each other.
Next Steps: They may be surprised how quickly they may have to ramp up for production once financing is in place. They may find suddenly, “My God, we need more people.” Have people start thinking, “Hey, that’s someplace I could see myself going to.”
Douglas Fletcher, Managing Principal (Edmonton), Osborne Contract Executives
On the Approach: It’s an excellent strategy to keep HR costs variable for as long as possible at any level in the enterprise. Almost everything can and should be a variable cost at this stage.
Red Flags: Such senior [hires] know what needs to be done and frequently like their independence. Make sure there’s a well-documented paper trail, even an electronic one. Even a start-up needs succession and people contingency plans.
Next Steps: As human resources and contract work increases, have a communications plan. More people and contractors doing more things increase the potential for gaps and overlap. No lone wolves!
Karen Hawitt and Kevin Neish, Partners, Knightsbridge, Human Capital Solutions, Calgary
On the Approach: They have ingenuity on their side, but we’re not sure of their long-term and short-term vision. What often happens with start-up tech companies as they build out is they tend to be operations/engineering centred, at the expense of sales/marketing. We don’t see a strong go-to-market strategy, and that’s critical.
Red Flags: Their business plan does not sufficiently address the organization, resources and costs associated with the human capital element. As the company takes off, they will have a workforce.
Next Steps: Do a gap analysis on the existing team and analyze their strengths and where the holes are. Then develop a plan identifying how to fill those holes.
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