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The Hazards of Scaling Up Your Business (and How to Avoid Them)

Imagine this: the co-founder of a multi-million-dollar HR management software company with almost 500 employees likes to micromanage to the point he and not the HR department has sole approval over employee benefits.

Likewise, when any of those hundreds of employees requests time off for holidays, it’s he and not the HR department that says ‘yes’ or ‘no’.

The company doesn’t have a dedicated IT employee to fix computers or printers because that same co-founder believes its gifted engineers should be able to resolve any IT problems that occur—no matter if doing so pulls them away from developing products or resolving customer problems.

Far worse, a massive influx of business means the company can’t keep up with licensing its insurance agents in each of the American states in which it operates. News leaks out, and the company is embroiled in a scandal with the prospect of millions of dollars in fines. The CEO co-founder is asked to resign, which he does.

It might sound far-fetched, but these are just a few of the problems the US HR software company Zenefits experienced during its accelerated growth or scale-up stage, according to Claire Suddath and Eric Newcomer of Bloomberg. [1]

To read the full article written by The FD Centre follow this link.

One of the benefits of working with Freeman Clarke is that we are part of the Liberti Group. As a whole, the group provides part time Directors in IT, Marketing, Finance and Legal, meaning you have access to a wide range of expertise for which you may not have an internal resource.

For further advice and to find out how a part time Finance Director can transform your business visit www.thefdcentre.co.uk or call 0800 169 1499.

 

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Graeme Freeman
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