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What is a ‘Gazelle’ and why are its resourcing methods so efficient?
A Gazelle vs. a Giant comparison
According to Investopedia, a ‘Gazelle’ is “a high-growth company that has been increasing its revenues by at least 20% annually for four years or more, starting from a revenue base of at least $100,000.” Doubling its revenues over a four-year period, a Gazelle is expressing an ability to scale up extremely fast and systematically and this is usually a result of an innovative, stable and rapid recruitment process.
Both Gazelles and Giants such as Google, Microsoft, J.P.Morgan, BP, Unilever or EY may have solid resourcing structures, but the truth is that Giants have the massive hiring budgets that others can’t dream of.
Well established global companies have years – if not decades – of a head start by creating universal storylines that attract and retain talent long before a job ad is posted.
Just ask yourself: Who do you associate Santa Claus with? What’s your favourite commercial catch-phrase? How long does it take for you to list three engaging CEO’s?
The same as a fourteen-year-old aspiring astronaut wants to work at NASA, a marketing enthusiast will dream of running a team that writes Santa’s next adventures in the Big City. A Finance enthusiast will want to feel the New York Stock Exchange rhythm or control teams at Standard-Chartered. A junior programmer would love to start as an intern at IBM or Microsoft, an aspiring editor would love to help influence Fashion within Vogue or Business within Financial Times, and a travel wanderer would love to get an offer from Expedia or Airbnb.
For a Giant, it’s all about the brand. The brand has been built in our heads, it’s in our collective memory, in visuals, on the street, it’s popping-up online everywhere, and it is in the influencers we follow. The brand, built by Marketing and Commercial departments, attracts and stands for over 70% of the hiring process. The rest is made up of salary expectations, a combination of flexible working hours/work from home structures and actual responsibilities.
For a Gazelle, it’s the same, minus the budget. The same article listed above tells us that super-fast-growing companies are characterized by their sales processes and evolution, rather than size.
Based on revenue we can find big enterprises, but it’s usually the smaller ones managing to achieve the numbers so fast – check out #1 Fortune100 Fastest Growing Companies of 2018, Health Insurance Innovations.
Growth is driven by a flawless operation with structures, inter-connected departments and excellent resources. A Gazelle’s Human Resources department is the backbone of the organisation’s success and gets inspired by a Giant’s (the employer’s) branding methods, copies what it can and constantly builds new resourcing planners based on market feel and tools.
From the moment Head of Departments realize the need for a new person up to the Onboarding process and setting up incentive programmes, a Gazelle checks all the Hiring boxes.
That’s why their methods are so efficient, that’s why they hire faster, better, and retain people for longer.
If you’d like to conduct one-to-one research on the two types of resourcing processes, we have found a Top 100 Best Companies for HR in 2018 that can help you get started.
Join us for part two of this article tomorrow, to learn how to resource like a genius by getting the answers right. See you soon!
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