The biggest resources a company can have are its people. Employees can break or make any organization. Therefore, it is highly important to recruit, train and retain brilliant people at any startup. When you start building a startup, you need employees who can think out of the box and more importantly have an entrepreneurial spirit, so that they do not think of it as some other job but feel like it is their own company. You need people who are willing to go the extra mile to get the job done.
There are certain sure-shot ways to attract the right talent to your small startup. More often than not, money is the motivating factor. However, the thing to remember is that it is not the only factor. Here is a list of things you can work on in your startup to ensure you attract a good set of people.
A Great Work Culture
Besides money, the second motivating and hygiene factor employees look for is work culture. Inculcate a great work culture that gives your employees more incentive to work hard and gives outside talent a good enough incentive to come work for you.
Encourage professional development
Whilst most big companies do not leave much scope for an employee to go above and beyond, having an atmosphere which encourages professional development might help you snag A+ resources even on a tight budget. Offer your employees the freedom to experiment, books on leadership and mentorship to hone their skill set further.
Offer what many large-sized companies cannot offer
It starts with work culture and goes on to flexibility in many things. Give your employees the freedom and vision to take their own decisions, as well as flexibility to work which many big companies cannot.
Big corporations do not offer profit models. Brilliant people want to feel rewarded for the hard work they put in. By sharing your profits, you give incentive for people to work hard as well as for people to want to work with you.
This is not much different from professional development but this specifically entails learning on the job. Often times people feel saturated at their job roles. Offer people a chance to continuously develop and learn and you’ll see people even wanting to take a pay cut and join to ensure they feel engaged and learn at their job.
Transparency, Ownership, and Challenge
No one wants to feel stuck in a dead-end job. If the role you offer is challenging and needs people to ownership, you will find more people lining up to take the job. When people start their own company, they tend to micro-manage things. Stop this habit and give people ownership of their roles and you will have a much healthier environment. Another important thing is transparency. People want to work in a place that is transparent and they feel they know the workings of the company.
In short, the best way to attract big talent for your small startup even on a tight budget is to offer them a challenging role, give them ownership of the role and ensure you have a great work culture.