Statistics show that most startups don't make it past their first anniversary. Why do small companies tend to collapse so often? One of the proposed reasons involves hiring a poor team. However, finding suitable candidates can be complex and confusing since the market includes people from different generations with various demands. So, here are a few suggestions on recruiting the right talent for your infant company:
- Contact an agency
You can find several recruitment companies that act as a bridge between small startups and people looking for employment options. Well-established firms have an entire HR department dedicated to recruiting fresh talent. Startups lack the overhead expense to afford such luxuries, so they're bound to outsource these services. A "talent agency" represents your company's mission and conveys it to the job market. This technique saves you a lot of trouble finding staff for the company all by yourself.
- Share your vision
Entrepreneurship involves opening pathways to success to anyone willing to contribute. That's why Tesla offers shares to all employees who aren't restricted just to the management. These actions allow you to share your vision with your workers. As the founder of the company, you must be able to communicate your dreams about the startup's future. Why should a person join your team? You must show potential employees that your idea can bring some real change to the lives of people.
- Don't hire pals
Your business requires the inclusion of only the best talent out there. Founders prefer employing people with an AACSB online MBA no GMAT needed to work at their startups. Companies also sponsor their workers' business education. Since many institutes have waived off GMAT requirements, employees can study and work for you at the same. On the other hand, putting the business in the hands of amateurs doesn't seem like an intelligent decision. Some startups repeat the same mistake of bringing friends and family into business since they trust them. So, tough choices often become unfeasible because of friends involved, such as firing one of them at some point.
- Hire freelancers
Some startups can't afford to hire full-time employees, so they hire freelancers. This strategy seems effective in these pandemic-ridden times as you can allow freelancers to telecommute. Many sites (such as Fiverr and Upwork) allow you to contact and immediately employ these freelancers. Or you may broadcast the job offer via social media and then interview potential candidates. Freelancers cost less than full-time workers and may even get promoted one day to permanent employees.
- Offer easy hours
Since it's a startup, many candidates would imagine having a flexible schedule. That's something you may leverage to discover the best talent for your newborn company. You can also offer employees an option to work remotely or give them three days off every week in the beginning. That's how the workers will maintain a work-life balance and find the motivation to keep serving your company. Or you can allow them to work in-office for three while telecommuting for two days a week.
- Join events
You can try expanding your hunt for the right talent by participating in events, seminars, meetups, and career fairs. These gatherings offer you a golden opportunity to contact students and show them your vision for the company. Such events provide an excellent environment for networking and building fruitful associations. You may also communicate with universities to employ their freshly-graduated alumni. Many of these youngsters are filled with passion and enthusiasm to create an exciting future for themselves. Attending job fairs helps you locate the correct people for a career at your infant firm. You can offer these students internship opportunities instead of hiring people full-time.
- Use LinkedIn
Digital platforms have made it easier for startups and candidates to commence a dialogue. Social media also allows companies to contact potential employees. Among all these platforms, LinkedIn offers the best recruitment opportunities since it's – basically – a CV platform where your profile acts as your digital resume. Such platforms have enabled companies to do a background check on all candidates quickly. Now, you can assess the strengths and weaknesses of any potential employee with the click of a button.
- Test their skills
Startups hire people based on different qualities. For Elon Musk, as an example, you don't need a college degree if you wish to work for him. This attitude drives more youngsters to pursue job options at small companies. A candidate's credentials don't matter if she/he's perfectly capable of doing the job. So, it's essential to test a potential employee's skills during the interview and check her/his abilities. That's when you'll know if that person has the skills you're looking for or not!
- Offer benefits
In the past decade, candidates looked for a decent salary and bonuses. But now, potential employees scrutinize your offer from different perspectives. Is the timing flexible? Does the work environment appeal to their senses? Does their role at your startup instigate productivity? Hence, startups have to offer different perks for incentivizing employment opportunities. As we've explained, some firms allow workers to telecommute while others reduce work hours. We also have companies that permit employees to buy stock and become partial owners of the companies they work for! These different incentives motivate the right talent to work for you since they feel valued by your company.
Your business/company requires people to make it successful. What sort of individuals are suitable to work for you at the startup? Experts recommend hiring people who fit the company culture. Statistics show that 46% of candidates consider the company culture while applying for the job. You should set parameters for what kind of employees you prefer working with you on your dream project. Perform personality exams of all candidates and analyze their character. That's how you'll find the right talent for the startup.
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