Startups

5 Ways Startups Can Attract Great Talent in a Competitive Market

  • 4 min Read
  • September 24, 2018

Author

Escalon

Table of Contents

As the owner of a startup, you understand that money is often a challenge when it comes to hiring.

This makes it extra hard to compete for the best talent, especially when the economy is hot, and the jobless rate is low.

So, the question is out there, “How do you hire a top-notch team when you are competing against the big guys?”

Take a look at these five ways startups can attract great talent in a competitive market.

 

#1: Create an Employer Brand

 

You are probably well-versed in how to create a brand name for your company, but have you created an employer brand?

Startups are in a unique position to create their own in-house brand. It’s easier for new businesses because they aren’t trying to re-invent themselves with their employees. There isn’t any baggage to overcome.

The best way to create your employer brand is to sit down and highlight all the reasons it will be great to work at your company.

This is your chance to create an employer brand and company culture all at the same time. You have a blank slate, and you can make it a goal to create the best company work environment in town.

 

#2: Attend to Your Company Culture

 

When you think of tech startups, they generally have finessed their company culture to a point that their potential new hires don’t need any convincing – they want to work for the company.

As a new startup, you want to create a company culture that’s high on morale, genuinely cares about its employees, and wants to hire people invested in the business.

Your company culture and hence morale is in direct relation to your great work environment. This can help you snag A-list talent on a tight budget.

 

#3: Offer What the Big Guys Don’t

 

Sure, you want to offer health benefits, and perhaps you can afford to offer retirement options, but the big businesses do this, too.

Step out of the box and offer all the things they usually can’t.

For example, today’s workforce wants flex time. They want the ability to leave in the middle of the day for their daughter’s soccer game. They want to be able to work from home if their son is sick.

Consider commute options as well. Some startups have success allowing employees to work from home one or two days per week. Others have an entirely remote staff.

Other non-traditional options include letting staff members bring their dog to work, health and fitness options on-site, healthy snacks in the break room, and yoga classes.

 

#4: Be the Leader

 

Be a team player. If you advocate working from home once a week, you should do it, too. Otherwise, your staff won’t feel like it’s okay.

If you offer a free health club membership, use it. You’ll build camaraderie with your team if you’re at least occasionally working out together.

You also want to create a culture where your team members feel appreciated. Offer incentives and rewards and tell your potential new hires about it.

 

#5: Make a Commitment to Professional Development

 

This is another area that today’s workforce finds important.

When recruiting new team members, let them know that professional development is important to you and that you help team members find opportunities.

You can also offer lower-cost options such in-house mentoring, computer classes, and a library of books on development.

 

Final Thoughts

 

For startups, hiring your first team members and even moving forward and increasing your team, takes careful strategizing and much forethought.

Don’t take your hiring needs lightly. Your business’ success depends on your direct ability to hire top talent and build an exceptional team.

This goes beyond benefits. It requires out-of-the-box thinking, strong company values, an excellent company culture, and sometimes a bit of flex time.

Are you a new startup ready to succeed? Are you looking to get your new business off the ground and watch it rise to success? We are here for you. We can help answer your questions and guide you through the process. Outsource your HR duties, finances, payroll and more to us. Contact Escalon today to get started.

Talk to our team today to learn how Escalon can help take your company to the next level.

  • Expertise you can trust

    Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.

  • Quality and consistency

    Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.

  • Scalability and Flexibility

    Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.

Contact Us Today!

Tap into the latest insights from experts in your industry

Accounting & Finance

Financial Planning for the Future, Setting Long-Term Business Goals

While small businesses must handle day-to-day tasks—like managing payroll or closing monthly books—long-term planning is the compass that keeps them...

Read More
People Management & HR

Benefits Administration, What Small Business Need to Know

Benefits administration can be a game-changer for small businesses aiming to attract and retain top talent. While salaries remain an...

Read More
Accounting & Finance

AAP vs. Cash Accounting: Which Method Is Best for Your Growing Business? 

Choosing the right accounting method can significantly impact how you track financial performance, manage taxes, and plan growth. Two common...

Read More
Accounting & Finance

Beyond Bootstrapping: Advanced Cash Flow Management for Scaling Companies 

Bootstrapping—financing growth through internal cash flow—is a hallmark of many successful startups. But as businesses mature past their initial stage,...

Read More
Technology & Security

Building a Scalable Tech Stack: How to Choose the Right Tools for Growth 

In today’s business landscape, technology is more than a convenience—it’s a strategic asset that can supercharge growth. But as you...

Read More
Accounting & Finance

How to Reduce Month-End Close Time Without Sacrificing Accuracy 

The month-end close can feel like a perpetual scramble—collecting invoices, reconciling accounts, fixing last-minute errors. A drawn-out close not only...

Read More
uncategorized

How to Reduce Overhead Costs Without Impacting Productivity 

Overhead costs—from utilities and rent to administrative staffing—can quietly swell until they erode profit margins and slow your ability to...

Read More
Accounting & Finance

How to Structure Your Finance Team as Your Business Scales

Growth triggers a tidal wave of financial complexity, multi-entity operations, new product lines, overseas expansion, or investor relations. If your...

Read More
Accounting & Finance

M&A Readiness: How to Prepare Your Financials for a Successful Acquisition or Sale 

Mergers and acquisitions (M&A) can dramatically alter a company’s trajectory—unlocking new markets, technologies, or customer bases. Yet, many deals stumble...

Read More