5 Ways Startups Can Attract Great Talent in a Competitive Market

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.