It’s important not to rush into hiring but to onboard only those people who would be excited to work with start-ups and would sink in the culture where work is irrespective of hierarchy or job description. While doing the leadership hiring for such companies , it’s important to hire people who come with entrepreneurial mindset and are looking forward to take the ownership and run the show .
It’s important to identify all the roles in the organization and accordingly align then with the business. Clarity here would not only help in driving business decisions but also contributes towards apt hiring.
Since most of the new organizations have limited staff and also would be doing first time hiring, it’s better that they understand what all is applicable on them and prepare themselves with it. Getting some advice via local consultant would be a good idea than getting into problem of being non-compliant.
Most people join startup for they want freedom to think, express and implement. Too many policies might just create too many restrictions. Keeping a lean framework on reporting with simple and lesser policies will help towards creating a culture of ownership and innovation.
Treat them like a big family where they look forward to work and grow with organization. Remember that working in startups is considered high risk but equally higher gains. Hence valuing the choice which the employee made, company should not let the employee down and make sure that the employee grows in tandem with organization’s growth.
If all the above are handled judiciously getting into exit management would not be a required but by in large a clarity on that process should be defined both for voluntary and involuntary attrition. Infact, smaller the organisations higher should be the transparency which also gets everything in ‘DIY’ mode.