Good governance is like a seatbelt—you may not need it every day, but when you do, you'll be glad you have it.

Understanding workplace culture and employment practices

At its core, workplace culture and employment practices embody how a company is led and managed. This encompasses strategies for team growth, employee development, fostering an inclusive culture, and adhering to employment laws. Leadership's approach to ethics, oversight, and transparency plays a pivotal role in shaping these practices.

A strong workplace culture and sound employment practices contribute significantly to employee engagement, job satisfaction, productivity, and retention.

Priorities for an early-stage company

1. Comply with relevant employment laws

Even if your company only has two employees, you are still subject to certain employment laws that protect your employees and your business. Be aware and ensure you comply.

1. Understand and comply with employment laws relevant to your company, regardless of size. Regular updates on legal changes are essential to stay compliant.
2. Consult with legal experts to clarify any uncertainties about applicable laws.

2. Put together an Advisory Board and/or Committee

• Post-investment, form an advisory committee to guide the company's strategic direction. Choose members based on the company's needs, ensuring diversity in perspectives.
• Typically, early-stage companies have 2-5 individuals that are chosen based on the needs of the company. At the very early stages, this will likely be 1-2 of the founders, and your early-stage investor at pre-seed. The composition will evolve, typically at each funding round as new investors may ask to sit on the board. The advisory can change as the needs of the company change e.g., get smaller or larger.
• Aim for at least three meetings a year, with effective minute-taking and agenda-setting.

3. Protect your intellectual property

Safeguard your company's intellectual property early on to prevent future complications, reinforcing good governance practices.

4. Develop an inclusive culture

As a very early-stage company there are steps you can take to build an inclusive culture from the offset.

This is within your control and even if you are two co-founders, there are certain early staps you can take.