Disclaimer! :
It is my first blog so apologies in advance on any error and wish to get maximum comments and inputs on getting better and improved.
A little more than 50% start-ups fails in the first 4 years of it’s beginning.
Some figures from the research in 2011 States :
Only 4% made it to the second year and 3% to the fifth year of it’s foundation.
Jayson DeMers, Founder and CEO, AudienceBloom has mentioned about top “20 Factors That Predict Startup Failure” – https://www.entrepreneur.com/article/308447
If closely studies, there are the human aspect related to it. So is the Human Resource Management, the need of the start-ups?
When we talk about factors and challenges that a start-ups face during it’s survivals and growth are much due to following reasons as well :
In start-up, The CEO / Founder is responsible for the success or failure of the company. Primary responsibilities of the CEO / Founder include making major decisions, Forming operational strategies, managing resources of a company.
When CEO / Founder is expected to perform such complex role and responsibilities, how is he/she expected to be focused on trivial issues of day to day operations including HR but definitely these aspects have high impact on his other achievements. He/She absolutely is likely to divert it’s attention to people concerns. Employees are the most critical asses of any organisation.
Here are the common issues faced by any CEO / Founder on Human aspects of a start-up:
One need to focus and address these common issues in order succeed and move to the next level.
Here we have mentioned about the challenges and common issues and I would like to invite the suggestions, comments or arguments to get into more details of Human Resource Function of any Start-up.
In my next article, I would like to mention more about the ways and approached to address these challenges.
Inputs welcome J
