Statistically, startup businesses are at a disadvantage, with nearly half failing by the five-year mark. At ten years, only a third of startups are still running, which means if you can make it to that 10-year anniversary, that’s quite an accomplishment. While there are many ways to increase the odds of success, one of the best is to attract top level talent. In fact, your business’s sustainability may lie in your ability to do so.
Consider Bringing on Remote Employees
There is only so much talent in any given area, making remote employees a necessity for many businesses, including and perhaps especially startups. When you hire remote, you’ll be expanding the talent pool to the entire world, making your odds of finding the right fit infinitely better. Just ask Matt Mullenweg, the founder and CEO of Automattic, a major open-source contributor to WordPress. His recruiting secret, according to an interview with Inc., was hiring global talent for remote work. Today he has 700 employees working in 62 nations across the globe yet requires no space for headquarters whatsoever.
Perhaps you’ve already hired a true star to your staff, but that hard-to-find employee is dreaming of enjoying the beach life down in Florida, searching through condos for sale in Miami. Instead of taking the loss, simply let him, or her, go remote. It’s a win-win situation.
Be Diligent When it Comes to Social Media
These days, it’s a necessity to use social media for hiring top talent. It was estimated that there were nearly 2.5 billion utilizing it in 2017, and in 2019, there are predicted to be some 2.77 billion social media users around the world. Sites like LinkedIn, Twitter and Facebook all offer incredible opportunities for locating talent, provided you actively participate in conversations, such as LinkedIn groups, providing beneficial information that will make job-seekers remember you and your company.
You should also start a blog or hire someone to do so if that’s not your expertise in order to build your brand. You’ll be able to share the content on your company’s social media sites, and chances are, talented people will read it. Some may even want to join your team.
Hire People Who Are Passionate About What You Do
By hiring people who are truly passionate about what you, and your startup are all about, they’ll naturally want to work harder. They’ll be great word-of-mouth marketing too, which means when you’re looking for more talent, their talented friends and former co-workers are likely to want to work for you as well. Even if they don’t have all the experience you’re looking for, attitude and a willingness to learn often makes for the best employees.
Make Your Business a Place People Want to Work For
It’s not just the “work” you’re doing per se that can attract good talent – it’s important to create and maintain a company culture that makes it a place people want to be. When employees are happy, they’ll not only work harder, they’ll tell others about it. People who enjoy their work environment, their co-workers and their job add much more value to your business and tend to stick with you over the long haul.
Compete With the Big Players
If you’re a new or relatively new startup that no one has heard of, you’re going to have to compete with the big players to attract the right talent. Think about offering stock options at the ground level, which means if the business is acquired or goes through an IPO, your employees will have the chance for big success which can be a major motivator. You may want to give full ownership over one area of the business to a talented new employee. A great selling point, it offers the opportunity for career growth that’s hard to match and is rarely found in large companies.