No one can deny that one of the key ingredients to the success of a start-up is their ability to attract the best talent. In fact, when successful start-up CEOs are analysed it shows that they spend around 30% of their time on recruitment.
Whilst recruitment is, therefore, undoubtedly one of the top priorities of start-up management teams, if done badly it can slow down, or even set back, growth. But, if tackled properly and well planned, recruitment can supercharge a start-up's business growth.
Here are six recruiting strategies your start-up should implement to ensure you recruit the best talent.
When you receive an excellent application, it is essential that they are contacted straight away as high-quality candidates are always in demand.
It is also important that the candidates experience of the hiring process is professional, as this will reflect on how the candidate perceives their potential new employer.
Candidates will also engage better with a process that is transparent, where they understand what is required of them, who they are meeting at each stage, and that the time frame is communicated and adhered to.
Before you start recruiting, you need to know how much a new hire will cost your start-up and what benefits they will bring.
For your cost computation, include:
To figure out the benefits of this hire, include:
Any new candidate you hire needs to add value to your organisation. Since your start-up is likely small and growing, it is important to bring in resources that can deliver tangible benefits for the company in a timeframe that makes sense.
If your current budget, (or management bandwidth), won’t support a full-time employee, a contractor or part-timer may provide a solution.
Many contractors are keen to join a fast-growing startup in the early days. It also gives you a chance to see how they work, and if it’s a mutual fit. If the contractor performs well, then they may be interested in the full-time role when the company is slightly more developed.
Part-time roles can also be attractive to more experienced candidates, with the advantage of all that experience, but not a full-time experienced employee's salary.
Start-ups normally have an extremely fast-paced environment, and it is essential that new employees can work in like this, with little to no supervision and guidance. They should be capable of juggling priorities and learning quickly.
Prior start-up experience will ensure that applicants are suitably equipped to cope and adapt to a fast-paced environment. Previous experience in a corporate environment may not be as relevant.
An employer value proposition (EVP) communicates what the candidate will gain in exchange for the skills and experience they will bring to your business.
It should be unique to your business and help the candidate differentiate what you offer from other suitors.
Done properly it will also be a key ingredient in retaining your current team as well.
The offering should be compelling, and then will be a key driver in attracting the best talent to your business.
Studies showed that employees that align with the culture of a start-up are less likely to leave the business, tend to stick around longer, and are more economic to hire.
It is essential that social media channels give an insight into the culture of the company, as this will be a key deciding factor for potential applicants applying.
Candidates need a chance to learn about your team and an idea of what it’d be like to be part of it.
Great employees are key to the growth of a start-up, so make sure you choose your staff members well. Employ these strategic recruitment tactics, and you’ll build an A-team that will push your business to the top.
Want to know the cost of getting your recruitment wrong? Use our bad hire calculator HERE.
If you would like more information on how to build the best recruitment strategies, please book an obligation-free meeting HERE.