FALL/WINTER 2012
Bank
Notes
INSIDE
THIS ISSUE:
1
Hiring for the Life Cycle
of Your Business
2
Regional Presidents’ Letter
3
PCB Commemorates 40 Years by Giving Back
4
Preparing Employees for
Transition
Finding and fostering
employees who fit your
company’s life cycle are
key elements in creating
long-term sustainability.
Hiring for the Life Cycle
of Your Business
As many business owners know,
organizations typically follow a
distinctive life cycle path revolving
around several well-defined stages. It
is important for business owners and
leaders to cultivate or hire the right
talent with the right skill set for each
stage. Finding and fostering employees
who fit your company’s life cycle are
key elements in creating long-term
sustainability and profitability.
The timing for transition from one
cycle phase to the next is unique
to each business, but executives
should have a clear direction and
execution strategy from which they
can successfully navigate through
these stages. The strategy should
include an outline of the attributes
and experience necessary in employees
throughout the company’s life cycle.
Implementing this strategic approach
is an important tactic, and should
be designed to support the overall
business goals and vision.
Seed or Start-up
The seed or start-up stage of a business
can be a period of struggle as well as
excitement for business owners and
leaders. With this in mind, companies
should look for employees who
can navigate this raw environment
effectively. Mike Hirshland of Polaris
Venture Partners believes that earlystage start-ups or fledgling enterprises
should be led by entrepreneurial
individuals who are nimble and
require little guidance.
At this point, most businesses are only
able to afford a small staff; therefore,
it is important for employees to be
flexible, have the ability to serve in
a variety of roles, possess a strong
appetite for taking risks, and execute
their duties with a great deal of
autonomy.
In addition to the challenge of
operating with a small staff, companies
in this stage may not have dedicated
human resources personnel. The
owner or top management may
be responsible for recruiting and
hiring, along with a number of other
responsibilities. This reality reinforces
the need for resilient, flexible and
proactive employees. If hiring
additional staff is not feasible due to a
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BANK NOTES – FALL/WINTER 2012
1
Regional Presidents’ Letter
At Pacific Continental Bank, we believe employees are one of a
company’s greatest assets. Not only do they carry out the strategies,
tactics and vision of the business, they are the advocates who share
a company’s story.
We have watched our bank evolve over the last 40 years, and have
come to understand the importance of hiring dedicated, talented
individuals who can grow with the business. Of course, it’s also critical to
communicate a well-established vision and path for employees to follow.
Having strong leadership at every stage of the business life cycle has
helped to ensure our success.
This year, with the continued hard work and dedication of all of our
employees, we have been able to offer more streamlined services and
educational tools. For example, we launched a new online banking
platform earlier in the year, which offers greater security and easy use
for our clients. In addition, we offer a number of industry workshops and
publications, all aiming to provide clients with the right resources to make
sound business decisions.
We’re proud of our 40 years serving the Pacific Northwest, and are
thankful to our bankers and clients who have made us the strong
organization we are today.
Sincerely,
DENISE GHAZAL
President,
Greater Eugene Market
DAN HEMPY
President,
Greater Portland Market
BOB HARDING
President,
Greater Seattle Market
CHARLOTTE BOXER
Pacific Continental Bank Regional Presidents
President, Director of
Commercial Real Estate
Hiring for the Life Cycle of Your Business CONT.
lack of resources, it may be worthwhile
to consider short-term contractors to fill
the gaps for specific projects.
that executives may need to hire team
members with specific expertise in order
to move the company forward.
Growth
Employees who seek a fast-paced yet
highly structured work environment are
a good fit for this phase. A team-oriented
atmosphere often evolves during this
period, which typically warrants staff
members who are able to collaborate
with others on a range of projects.
When companies become profitable
and start planning for the future, they
have likely entered the growth stage of
the business life cycle. In some cases,
existing staff may not have the ability
to fill new roles with the same efficiency
as a candidate with years of knowledge
in a specialized category. This means
Additionally, during the growth stage
an organization will likely need to bring
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2
BANK NOTES – FALL/WINTER 2012
Hiring for the Life Cycle of
Your Business CONT.
on a part-time chief financial officer or
bookkeeper. Senior leadership positions
will transition to focus on the enterprise’s
potential – executing strategies to propel
the company forward, rather than solely
keeping it afloat.
Expansion
Business leaders operating an
organization entering the expansion
phase will likely focus on creating a
sustainable future for the company with
an emphasis on longevity. In most cases,
a well-established hierarchical structure
and culture will be in place at this point.
Additionally, a fully functioning human
resources department with a strong
staffing structure should be formed to
help ensure success.
At this stage leaders should analyze the
potential of their current workforce.
Cross-training existing staff may be a
helpful tactic to expand their capabilities.
At the same time, employees should be
presented with opportunities to specialize
in areas that match their skill set and
desired career-advancement goals.
During the expansion stage, a certain
percentage of staff may transition out of
the organization. Therefore, investing in
a hiring strategy that involves fostering
current staff, while continually seeking
out potential new employees, will help
enable the human resources department
to fill open positions quickly and
efficiently.
Decline or Renewal
The decline stage of the business life cycle
is often marked by a plateau in growth, a
reduced likelihood of risk taking and/or
diminished innovation. If the company
is in decline, loss of revenue will likely
follow.
Pacific Continental bankers in Greater Eugene organizing supplies for local nonprofits.
PCB Commemorates 40 Years by
Giving Back
This year, Pacific Continental Bank celebrated its 40th anniversary. We started
as a small one-location business bank in 1972, and over the years have grown
into the strong and vibrant organization we are today, operating 14 banking
offices throughout the Pacific Northwest.
We celebrated this milestone by giving back to the communities we serve:
• Greater Eugene bankers at all
seven offices donated items such
as canned food, toiletries, school
supplies and toys to 40 local
nonprofit organizations.
• Greater Portland bankers collected
40 backpacks filled with supplies
and donated them to local children.
However, a plateau can provide an
opportunity to foster a renewal of earlier
stages. Executives may need to take a
hard look at future possibilities and
determine whether current staff can help
take the company forward. Employees
who regain the spirit of the business’
infancy, including reinforcement or
reinvigoration of the company’s vision
and flexibility, may inject new life. New
team members should be experienced,
but also possess entrepreneurial qualities.
• Greater Seattle bankers donated
40 hours of volunteer time to local
nonprofit organizations, including
Northwest Harvest, Community
Lunch on Capitol Hill, Jubilee
REACH and Associated Ministries’
Paint Tacoma-Pierce County
Beautiful program.
Conclusion
The success of a business can often
depend on having the right employees
at each stage of its life cycle, enabling
organizational growth and economic
viability. An established recruitment
strategy, balanced with an understanding
of the skill set and attributes needed
at each juncture, will assist company
leaders throughout the business life cycle
and help the organization thrive.
BANK NOTES – FALL/WINTER 2012
3
Preparing Employees for Transition
As a company transitions to a new phase
of its life cycle, changes to the culture
and work environment may result. By
keeping employees informed and engaged
during an organizational shift, executives
can help to ensure that the company will
evolve gracefully and enter a new period
of development with success.
Identify Transition Factors
To evolve strategically, businesses should
develop a set of goals and a plan of action
to navigate the process. Doing so allows
leadership to identify opportunities
and challenges that accompany growth
and change. Identifying these transition
factors early also enables business leaders
to be proactive in considering how
these changes will affect their current
workforce. For example, if there is a
plan to hire new team members, it is
important to identify the ramifications
in terms of salary, office space, roles and
responsibilities.
Communicate Changes
Employers can help mitigate concerns of
job stability, changing roles and shifting
responsibilities by communicating
transparently and frequently to all
employees. It is important to be honest
and share expectations about the changes
that are occurring at all levels. The
4
BANK NOTES – FALL/WINTER 2012
benefits of company restructures should
also be communicated to existing team
members. Either anonymous or openforum feedback can be encouraged to
support staff in navigating the changes.
Ensure Adequate Resources
Increasing resources for existing staff
can help ease uncertainties. A small
team may quickly be overwhelmed with
rapid organizational adjustments or
additional tasks. Employers should gauge
the reactions of their staff and consider
how individual team members respond.
Temporary relief in the form of freelance
employees or bonuses may help to assure
staff that the company is committed to
them and their work.
Connect with us.
GREATER EUGENE
541-686-8685
GREATER PORTLAND
503-350-1205
360-695-3204
GREATER SEATTLE
206-676-8880
425-688-3793
253-552-4800
TOLL-FREE
877-231-2265
EMAIL
banking@therightbank.com
WEBSITE
therightbank.com
To evolve strategically,
businesses should
develop a set of goals
and a plan of action to
navigate the process.
SOCIAL
#PCBpublications
These considerations assist in mitigating
employee concerns about transition and
allow them to move forward with a sound
understanding of the company’s evolving
goals and culture.
November 2012