Springboard is a collective of people who are versatile in terms of their abilities, and motivated to manage tasks. This team works so efficiently and harmonically because there is a well thought-through plan to continuously assess their human resources.
First Step: Recruitment
Since startups have a fluctuating work load, they look for individuals who are determined, motivated, willing to learn and develop new skills. Those qualities are also what is most important for negotiating salaries, not the years of experience.
Second step: Sense of ownership
Employees are given equity shares which mature over a period of time. Having stakes in the company motivates the employees and provides them with a sense of ownership.This sense of ownership inspires employees to take on responsibilities and motivates them to work harder for the company’s success.
Third step: Collaboration tools
Using collaboration tools such as the Slack software platform keeps everyone up to date about the different tasks assigned to different people and their fulfillment status.This helps in monitoring each person and the tasks he/she handles.
Fourth step: 360 degree feedback
360 degree feedback is a continuous process where feedback is collected from every individual including the person being assigned with a task. The goal is to find out how things can be handled better.
Last step: Acknowledgement
Acknowledging efforts, contribution and success is an important step to keep your employees motivated and make them feel valued. Springboard implemented a “You’ve been Awesome” award for this purpose. Another powerful instrument of acknowledgement is money. Annual increments in salary based on performance is a tool that Springboard uses.