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Studies have shown that the majority of startups fail to make it through due to the lack of a proper team. Choosing the right team can be a difficult task, especially for a startup, as it may often lack the resources to invest in professional hiring methods
Fremont, CA: As technology continues to drive change in every industry, startups have proliferated in size and number. Global corporations are known for dominating each sector. However, a small percentage of startups manage to rise against all the odds and grow into a big name. The world has slowly started to recognize the role of startups and accept it into the business ecosystem. In recent years, there has been an increased interest in investing in startups. Fresh talents also prefer to work in a startup as it offers a broad scope for learning and expanding their skills.
Studies have shown that the majority of startups fail to make it through due to the lack of a proper team. Choosing the right team can be a difficult task, especially for a startup, as it may often lack the resources to invest in professional hiring methods. There is a tremendous talent pool available in the market. But it is essential to identify the right talent your company needs.
Developing an Excellent Company Culture
Candidates always want to work in a place with excellent work culture. Good work culture will not only help retain existing employees but also attract new ones. Word about excellent company culture can spread quickly and attract the top talent. To establish a good work culture, a company should first create an engaging environment for its employees. Hard work is nothing without efficiency. Lack of efficiency can demotivate employees. A company's mission and vision is like a brand logo. People should be able to resonate with a company's mission and vision. Candidates today have a clear perspective of what they are looking for. Companies should aim to make candidates realize how they are different from other employers and how they can help them achieve their goals.
Build a Strong Media Presence
It's an internet-driven society out there, and having an online footprint is very important. The first thing any candidate does is look at the company profile and their social media presence. Using social media platforms, a company can showcase their culture and value. Let the brand image grow online. Give the candidates a taste of what it is like to work in your company. Maintain an active presence on social media and post regularly about corporate activities. These posts need not be restricted to official work. Post about weekend activities and team bonding exercises. Harness the power of the internet to attract the best talent to your company.
Communication is the key. A company's worth can be decided by how effectively it uses its communication networks. Traditionally, networks are the primary source for clients. Today, these networks need to be also used for finding the best talent. Referrals are the cheapest form of networking in the market. Create a positive word of mouth about the company and its team. This helps to attract the right talent. Candidates with the highest caliber are always ambitious to work in a highly efficient team. Having a beneficial reference program will also encourage employees to reach out to people using their personal networks. Attend industry events and conferences. These are gatherings of the best minds that come to share their ideas. They are often steaming with talent and can help you pick up the best candidates for your team.
Retaining existing employees is very important. This helps in maintaining team morale. On the other side, a high turnover result impacts sales and profits. Candidates will also hesitate to work in a company with a high turnover rate. A high retention rate is a sign of job security, something each employee seeks. Create a system where employees get regular feedbacks and are updated on the company's expectations from them. This helps in increasing retention rates and also ensures performance from employees.
See also: Top HR Tech Companies