Question

What type of referral network might support your proposed venture or one of your team’s ideas?

Answer 1

Referral network of entrepreneurs, investors, government authorities, professors, industrial top management, market veterans, journalists, NGOs, etc can help startups leverage the media coverage, financial stability, management consulting, CSR support and fundraising helps.

However, startups are primarily run by strong and fundamentally led human resources development function which sees recruiting, talent management, expatriation, stakeholders management, industrial and labor law protection.

Staffing global startups requires methods like Social Media Hiring, Referral Hiring, and Thid Party Consulting based Hiring which gives quality candidates.

Social media hiring is best for cultural fitments however can be skeptical which is disadvantage as it doesnt give an holistic view.

Referral hiring is another effective way because of trust and Recommendations shown. However it can be disadvantageous if referrences are unchecked and unverified.

Consulting based hiring gives top level candidates based on requirements and expectations. However disadvantages being cost of hiring is very high.

Organisinations must check for quality and skills as well as qualification like global experience, overall countries travelled, cross border cross domain management skills, Leadership skills, International relations management, Team building.

Predeparting on boarding opportunity is very critical for global success and hence candidates must b egiven training in global countries and should be given sufficient time to adapt to its culture and way of doing business and then should be expatriated. Here entire family expenses are taken care of and sufficient financial and administrative support is offered for ease if transition to new nation.

Ongoung training will incorporate learning through peers, transition counselling through past expatriates, reverse mentoring and case studies and collaborative approach like on job training with senuor leaders. Here expatriates are offered regular support to understand working culture, management style and organisation structure and systems.

Repatriation policies like attractive remuneration and total rewards package, career development plan for next 5 years, family health and insurance, children schooling and education support, long term stock options and bonsues, flatter hierarchy.

US employments laws like Equal opportunities as per Civil Rights act Article VI is most important and critical to be considered when in UsA as major emphasis is given on non discrimination policy of hiring. Other Acts being Sarbanes Oxley Act and Foreign Corrupt Practice Act which leaders must be aware of for ethical compliance and demonstrating integrity and honesty.