Having A Talent Strategy Helps If You're Growing

"The biggest benefit we've had in our company is when we've found the right people," Melby said.

Having a talent strategy has been important to Greystone's growth over the last six to eight years, he added. When the company hit $1 million in annual revenue a few years ago, "we had happy employees," but as it grew to $10 million, "we didn't know anything about having a talent strategy," he said.

After Greystone lost a couple of key employees, "we went from feeling we had a great place to work to feeling we had no competitive advantage at all," Melby said. That's when they asked employees what they value in a workplace, which led to the development of Greystone's talent strategy.

Melby added that companies must never stop looking for people who can help them grow.