Great companies know how to attract top talent. Behind every great startup you’ve ever read or heard about exists a team of passionate, talented, and motivated individuals.
Entrepreneurs face a lot of challenges when running a business and knowing how to attract and retain talent is one of them. In this article, we will list some of the most innovative ways to attract talent and explain how you can implement them in your business.
How To Attract Top Talent
Attracting the type of talent that understands the entrepreneurial venture and can bring expertise to that journey is essential to success, however, the process of finding talented people requires a certain level of creativity and a strong understanding of the benefits of working for your company.
We believe that the key to attracting top talent to your company begins with your mission. You have a greater chance of attracting top talent if they are able to align themselves with your mission and company beliefs.
Clear and Compelling Mission
According to the Independent, young workers are seeking meaningful jobs that fulfill their personal goals and create impact. This trend has forced big banks to change their culture and appeal to younger workers in the fight to attract top talent.
Your company’s mission is the entrepreneur’s most compelling case for why the startup is going to achieve greatness. At the core of this case is a passionately held belief that what the start-up aspires to do is important.
That passion might come from the desire to make the world a better place, being certain that the start-up could capture a great economic opportunity that nobody else has seen, or having the simple desire to solve a problem that perplexes the founder.
Another way of attracting top talent to your company is through providing growth opportunities for people who want to progress in their careers.
Provide Growth Opportunities
Startups often provide the opportunity for talented leaders to take on responsibilities and roles they might not have otherwise been exposed to. For example, a director of finance in a larger company might not have the opportunity to be a CFO if not for a smaller, startup company. Providing this opportunity can be attractive to talented people who aspire to be more.
Take Away The Fear of Failure
One of the hiring challenges startups face is that top recruits might consider it too risky joining the company. After all, the startup has no track record and there’s no guarantee for success. Tackle that issue head-on in the interviewing process.
Present the worst-case scenario and stress that the candidate would have no problem finding another opportunity should the startup go under. And that with the help of the candidate, the chances of success (and avoiding that result) would be significantly reduced.
Mold The Job to the Candidate
The age of the cookie-cutter 9 to 5 job is over. Everyone wants a job that accommodates their needs, strengths, and interests. Why not mold your expectations instead of expecting your employees to mold to you? Embracing job personalization as a marketing and management technique will entice the best talent around.
Embody a Unique Set of Values
If you want talent with integrity, you need to embody your values in every aspect of your business. If you don’t, the best hires will sniff out your company’s hollow values.
Every startup hire loves equity. If you are in the early stage of your growth, equity can help you compensate for the stability that talent would find at an established company. Venture-backed startups typically offer employees equity out of the 10 to 20 percent of the total shares of the business.
Attracting Top Talent To Your Startup
Knowing how to attract top talent to your business will set you apart from the competition by giving your startup fresh energy, new ideas and a passionate workforce who are ready to make your business a success.
Think about what else you can offer candidates such as working flexibility, equity and growth opportunities.