Erik's Blog

First of all, welcome to my Human Resources blog! I want to thank E.Factor for launching such an amazing platform for Entrepreneurs!

Let me start by answering the question: 'What Does HR Have to Do With Your Startup' or asked from your perspective: 'Why Should I Care About HR Right Now?'

Yes, I know. There are SO many other things that you have to worry about: Sales, funding, sales, more funding, sales and sales. I have been there before and am there with you right now. But, the answer to the question is that HR matters a lot, and as your business grows, it begins to matter even more. Let me state two facts for you:

1. You can't do it alone. Successful enterprises are built by successful teams. You might have the vision, but you will probably need a star team to execute the vision.

2. Human Capital most likely is and will probably continue to be your largest investment and expense. I get reminded of this every time I run payroll or look at benefit policies.

I cannot tell you how many startups (and even Fortune 500 companies) I know and worked with that have found themselves in a bad, I mean a really bad situation because they either don't have the talent needed to grow or don't have the right talent "on the bus". They simply did not pay attention to their human capital and then try to play "catch up". Their cash flow looked good, but their talent flow looked horrible (no talent coming in, too much talent going out).

So, what to do? The most successful organizations I have seen have one thing in common: They create and maintain a talent plan. These plans are dynamic plans that change as the business changes and grows. They answer questions that define their talent flow strategies and align them to their overall business strategies:

- How do I attract the right talent?

- How do I track and measure performance?

- What talent will I need to support my vision and grow?

- How do I reward talent?

- When do I know that there is not a right fit?

- How do I prepare my talent for growth and change?

- How do I prepare myself for growth and change?

These are all questions and aspects I hope to write about and explore with you in my future blog entries. I look forward to hearing from you and learning about your ideas and stories.

Until the Next Time,

-Erik Alvarado