I have a huge problem.
Being in a consulting business, my clients are also start-ups, who want to build big brands.
All of them want to hire bright and talented people, who can drive their business to the moon.
Somehow, it doesn’t work like that.
The truth is that nobody good wants to join a small or a start-up business.
Unless, you can compensate them in terms of better salary, bonuses, better environment.
The truth is that the market has changed, expectations have changed. Opportunities have changed.
The truth is that candidates do not want to work for mediocre and un-exciting companies. They are not worried about long term- this generation wants instant gratification.
Today’s candidate is demanding and impatient.
Candidates “pre-shop” the companies, before they enter the interview room. Thanks to internet, they know everything about you, your company and your culture before the first meeting.
I am surprised at the number of candidates not turning up for the final interview.
Most of the smaller companies are not understanding this stark reality. Their manpower budget is invariably half of what it should be.
The biggest challenge for any start-up or a small business is to hire good people and retain them.
Hence, every company needs to market itself aggressively to attract good talent.
Don’t worry about selling your product. That can come later on. If you can manage to hire a good team- they will sell the product anyway.
So, what should a start-up or a small company do to hire good people ? There are some basic guidelines :
- Double your manpower budget-
Please accept the fact that good people will not join you from good companies, unless you pay them more than what good companies are paying them.You have to compensate them for the risk involved in joining a smaller company.
- Make a good web-site much before you need it
A good web- site is your first touch point or a calling card. Every good candidate would see it and make an impression about your company. Most of the companies develop the web-site much after the products have been launched.
- Be visible on digital space.
As per the research, your potential employee would be spending more than 4 hours per day in front of the computer. They will see your LinkedIn or facebook profile before they come for the interview. Do you have a LinkedIn or facebook profile ?
- Provide an exciting working environment.
To attract and retain good employees, companies are making office environment exciting and fun-filled.
Companies like apple, Google and Zomato have created visually appealing offices.
Companies are also providing facilities like, 5-day week; cafeteria, gyms, flexi-hours, maternity leave, holiday homes etc.
Can you think of some new innovative idea, which will excite your employees?