Life in the fast lane
A roadmap for scaling up your medium sized business
From our grassroots research, it is clear that attracting and developing talent is integral to stimulating and navigating fast growth. From developing new products, taking on more customer orders or expanding the business structure - the right hire or promotion can transform a company. With nearly 50% of scaling-up MSBs growing their employment capacity by over 70% over three years,  the demand for great talent is high.
Giving opportunities to performing staff and those with the potential to step up is important, but equally recognising where external talent is needed is a critical process. With competition for skills rising,  medium sized businesses have to be strategic when looking to acquire the best individuals.
"Scaling-up is a journey that requires a robust and proven trust platform with staff. In any business transformation the team will need to dig deep. It is my responsibility as CEO to ensure we have the good will, courage and culture to do that and enjoy the process. Don't automatically assume your existing team is not able to step up to the next level."
Andy Corley, CEO, Quadralene
Companies we spoke to focused on leveraging the distinctive benefits that being part of the scale-up journey offers as a method of competing with other firms. Selling the vision of the company, the great culture and the opportunity to be an integral part of a rapidly developing project are key incentives. These tangible benefits often succeeded in enticing talented people to fast-growth companies rather than the bigger firms who could pay higher wages.
Sell the vision of your fast growth company and the unique benefits and development opportunities that brings
"Our strategy is not to outbid on salary, but rather sell the unparalleled development opportunities, company culture and exciting journey that we're on."
Toby Austin, CEO and Co-Founder, Beauhurst
Leverage new online networks such as LinkedIn and existing traditional forums such as industry events to gain access to high performers
Incentivise long-term commitment to the business through strategic offering of shares
Be honest with what the job entails and ensure it meets the candidates development needs
"We look for people that have the ability to deal with ambiguity, to make a choice when there is no clear right or wrong answer. This is a key attribute that can benefit fast growing businesses."
James McClure, General Manager, UK and Ireland, Airbnb