How to Encourage People to Work for Startups?
| 4 minutes read
The word startup is easy to pronounce, but it’s the most challenging thing for entrepreneurs to make it successful. On average, out of thousand, only two to five startups get recognized, but the best part of startups is they don’t give up; they continue to fight the battle, and they don’t stop until they find success.
When it comes to choosing between a well-established company versus Startups, most of the audience will choose an established company. Today, this article will help change your thinking and give you enough information about motivating people to work for startups without any fear of losing their job (that’s the common fear in startups).
The market of startups has maturely grown, nowadays startups are paying well, they are offering more facilities like insurance and much more. We will help to break the myth amongst people, and in the end, you will get reasons why you should work in startups, but before that, convincing a person to work in startups is the most challenging and crucial process if you want your startup to grow. The building team is crucial because they are the ones who will play a vital role in your company’s success.
So without much delay, let’s dive into the process of how to encourage people to work for small businesses?
Five Tips for Convincing People to Work for Startups.
When you have all of these waves counting against you, convincing or motivating people to join your startup can seem like a hill-climbing challenge of monumental proportions. While it won’t be easy, you can use these tips to make some progress.
1. Highlight Experiences Over Compensation
It’s a common misconception that compensation is the only thing that matters to an employee. They think more money is equal to satisfaction. But it’s wrong thinking, there is so much to do a job than the money, we do not deny how salary plays an important role but thinking just about the money is wrong. Job satisfaction is the thing people should focus on.
For startups, it can be helpful to study talent acquisition models from more established companies that understand the value of selling the experience. Park West Gallery (Park West Gallery offers extraordinary art auctions on cruise ships at sea and worldwide) is the ideal example. They’ve established an entire website dedicated to shining a light on their career opportunities as fine art auctioneers. In addition, they publish tempting content that climaxes the experiential factors of working for the company and give you several reasons why people should consider applying for open jobs.
Stop regressive to salary figures simply because that is what the job market tells you is important. You can’t compete on salary, and you shouldn’t try to.
2. Create a Team-Focussed and Friendly Atmosphere
A positive and friendly atmosphere is important. It also helps to extend productivity and encourages the overall growth of the company. Your employees spend a lot of hours working in the office. Making a light and friendly atmosphere allows people to enjoy the work and the positive people around them. This is how a team-oriented atmosphere goes so far.
To show interested people a bit of your team, glam up the interview process. Don’t just bring them into a boardroom and ask questions. Instead, let them spend some time in the office. Then, send them out to grab a cup of coffee with a couple of employees. Anything you can do to show your team-oriented atmosphere will help.
3. Make Supple Schedule for Employees
If you decided not to speak on vacation policies or a flexible work schedule, then beware you’re probably making a mistake. Being an entrepreneur, you expect employees to work most of the time, but every professional expects a vacation or a day off. They don’t want to work less; it’s like they want to schedule their around personal preferences.
You can set an example by offering flexible work scheduling like working remotely a few days each week, a flex schedule/routine where you come early to work and leave early, and converting five days into four days working.
4. Possibility of Making Money
Well, the majority of the startups are not financially stable. They need funding to operate. Hence, you can’t offer a high salary to employees. What you can do is the profit-sharing concept. It simply means when your company makes money (usually through an acquisition or IPO), your employees make money, too. This way you can keep your professionals satisfied and happy along with the salary you offer.
In a successful start-up, the financial upside from stock options can far outweigh a low base salary. Companies like Infosys, Facebook, or Freshworks IPO turned more than 100 early employees into overnight millionaires. This might be a rare possibility for some startups, but it keeps your dream alive. If you successfully crossed, then don’t forget to give the benefits to employees.
So, when you’re making an offer, consider combining salary and stock options. It can make the difference between a non-starter offer and a competitive compensation package.
5. Hire the Talent that Fits in Your Startup
It’s great to show everything to the candidate; at last, this option comes because you can’t hire anyone randomly. After the successful interview or encouragement, now it’s time to decide which candidate can give the most to your startup. Everyone has talent and potential, but you need to figure out which talent you need in your company. Being a startup, you can’t make mistakes else; it might cost you and put you in trouble. Therefore hire a candidate as per the role and responsibilities you’re offering.
When you start bringing potential employees into your office to meet with you and your team, remember that you’re both interviewing them and selling them to your company at the same time. You need to pick each other for a potential hire to become an early (and enthusiastic) employee. So as you ask them about their experiences, find out what motivates them, and make sure they understand your mission and vision. If you do that well, the right people will be happy to join.