How To Keep Your Team on the Same Page
Experts from ADP, The Riverside Company, and 3i discuss the importance of communication at a growth-stage company and making sure everyone’s doing the work they were hired to do.
This may seem obvious, but as a private equity investor in a growth-stage company, it’s essential to make sure that the employees of the company are doing what they were hired to do. Chris Capko of ADP says that when his firm does an assessment, they realize that 85 percent of the back office staff spends its time doing things that are not strategic to the company.
“You end up with this dichotomy where we’re in the middle trying to say, ‘Hey, the strategy is growth, but the time being spent is on things that are things you do because you’re in a business, not why you’re in a business,’” says Capko. So the firm spends a lot of time trying to bridge those gaps, putting things into place, and helping with talent assessment.
Over at The Riverside Company, they use a tool called a SAGE document, which stands for Strategic Acceleration of Growth and Earnings. This keeps all of the team members on the same page.
You can watch a clip here:
Watch the full video or download the transcript here, in which experts from ADP, The Riverside Company, and 3i discuss striking a balance between staffing up and matching that with revenue, the difference between titles and work performed, and separating star performers from good systems.
Experts from ADP, The Riverside Company, and 3i discuss the importance of keeping everyone on the same page when it comes to ensuring growth-stage company growth.