Why do most companies fail?
- Most companies fail primarily because they don’t have the right team of people
- The CEO might not be right, or the CEO hasn’t chosen the right people in the right positions
- Unfortunately, most new CEOs don’t understand the talent level required at each position and the teamwork needed to build a successful company.
- To have a successful company, most businesses need key people in several categories including research & development, manufacturing, IT, finance, marketing, sales, and HR.
BOTTOMLINE: Hiring right (from position description, to sourcing, to interviewing, to selection, to assessment, to hiring, to orientation, to development, to succession planning) – are all keys to building the right team. Done properly and repeatedly, the organization thrives. Ignore it, and the organization is doomed to failure.