Which management style should be applied in a fast-growing company?

A period of strong growth in a company is inevitably accompanied by a certain number of financial, organisational and human upheavals.  In order to efficiently pilot such a development, a rethinking of the modes of governance and managerial practices is necessary. But what management style should be put in place to best support teams in this context? Here, we take stock.  

Human challenges in a period of strong growth

Whether internal or external, rapid growth in a company presents many challenges on the human level. To cope with strong growth, it is often necessary to recruit new resources, and to develop new skills for current employees. During this process of change, the manager must ensure the proper integration of new employees, while making sure that former employees adapt well to the various changes. In fact, reference points are often disrupted, and conflicts are more frequent in periods of hypergrowth. A high growth rate is also accompanied by a very rapid increase in activity. Teams must therefore redouble their operational efficiency and are often subjected to additional stress. The role of the manager is to ensure, in a context of profound transformation, the support and well-being of employees, while guaranteeing operational excellence in line with the company's new strategic orientations.  

What management style should be adopted in a period of hypergrowth?

There is no single answer to this question. Indeed, the choice of management style during a period of growth depends on a large number of factors: the company's culture, the type of growth, the challenges to be met internally, the profiles of the employees, the company's growth strategy, etc. However, it is important to remember a few essential managerial keys during a period of business growth and increased sales. The local manager must in particular take care to:

• Promote the well-being and ensure the commitment of each individual

The commitment of employees is a central factor in ensuring that growth goes smoothly. In a context of transformation, the manager must therefore redouble their efforts to ensure that all stakeholders remain motivated. Participative management, for example, will be beneficial for involving teams in strategic decisions, empowering employees and generating enthusiasm. The manager must also anticipate resistance to change, listen to employees' concerns and reassure them.

• Convey a strong and meaningful vision

In order to feel involved, employees must understand the stakes and the benefits that could result from a growth in activity. This is why it is essential to convey a meaningful long-term vision through a strong and engaging discourse.

• Ensure operational excellence

To ensure the operational excellence required in such a context, the manager must delegate tasks effectively and with confidence. Indeed, the local manager position is changing and taking on a highly strategic dimension. Managers must therefore learn how to manage larger teams, accelerate processes and boost team productivity. They must also define clear and precise objectives (SMART) and adapt their management style to keep up with the new pace of the company and the new quality requirements.

• Facilitate internal communication

To manage hypergrowth, effective cross-functional communication is essential to ensure the fluidity of exchanges and to avoid the loss of information in a company where everything is circulating much faster. To achieve this, the manager can introduce collaborative digital tools and intranet software, such as Slack, that allow instant communication. The line manager must also listen to teams by organising regular collective and individual reviews or by delivering constructive and benevolent feedback, for example. To do this, the manager can draw inspiration from horizontal management.

• Develop skills and help teams evolve

When a company grows, each individual must learn to be more or less versatile to maintain performance levels. Functions evolve or cross over, and transversal skills are required. It is therefore the manager's responsibility to train employees, to develop new skills and to expand the responsibilities of each individual.

• Encouraging innovation 

To ensure sustainable growth, the company must continue to innovate and ensure that it does not rest on its achievements. In order to encourage innovation, creativity and collective intelligence, it is possible to draw inspiration from a collaborative management style, which encourages the emergence of ideas and the taking of initiatives. Finally, it is therefore situational management that is required during a period of strong growth. Above all, the manager must remain flexible and know how to question his or her management when it seems necessary. The most important thing is that his or her management style remains aligned with the company's values and culture, which often tends to fade in this kind of context.  

The interim manager: an asset for the fast-growing company

In the face of the strategic challenges of a period of strong growth, it will be very beneficial to call on an interim manager to ensure that the organisation's competitiveness is maintained. With WAYDEN, an interim manager with 15 to 25 years of experience is able to intervene within the company, regardless of its size (start-up, VSE, SME, etc.) and its sector of activity. This high-flying expert will thus be able to accompany managers through this period of transition and make the necessary adjustments to take advantage of the benefits and seize all the opportunities that arise from this hypergrowth.