A startup company is one that is yet to achieve its targets or goals. It will have to overcome various challenges and go through growth pains in due course of time, about which it may currently lack real-life experience. This aspect of the challenge of testing one’s capabilities and merits in uncharted territories, and perhaps this lure of adventure, risk, and uncertainty, draws entrepreneurs and employees to a startup. To pit their abilities against seemingly lost causes and taste victory is more gratifying to these warriors than wads of banknotes.
Furthermore, everyone knows that the adrenaline rush on a startup’s shopfloor is a class apart compared to the seasoned and cautious routine run in multinational corporations. It’s like the difference between fighting on the frontline and drilling in reserve force barracks. Even veteran employees with a long and enviable track record in their chosen careers find the lure of startups irresistible. That is because they know their knowledge and experience would be more valued at a startup, and they will have a greater chance to influence the course of events and be recognized and respected for their contributions.
On the other hand, inside the intestines of a business behemoth, they would be lost among the thousands of other executives or employees. These things motivate people with a particular inclination and mindset to join startups. A recent study by AngelList Talent shows that startup employees are much happier with their jobs than their counterparts in giant companies. However, here it needs to be emphasized that employees are generally not attracted to any startup. To lure talented executives who like working for startups, one must understand what they seek.
Such employees usually seek a harmony of values ranging from social responsibility to environmental awareness and from championing innovation to an inclusive and diverse workplace. Hence, a startup needs to promote and nurture a great workplace culture, project itself as a great employer brand, and be very clear about its goals, mission, and vision. Potential employees would also appreciate creativity in recruitment strategies and advertisement campaigns, which would convince them that the company has a modern mindset and may have less bureaucracy and red tape than large corporates.
Everybody wants their voices to be heard, and job seekers know that a startup would be more ready to listen to them than big MNCs. Beyond these, a transparent and welcoming interview and onboarding process and robust technology infrastructure will increase the charm of a startup as a recruiter. Two of the biggest reasons people prefer to join startups are the learning experience and the opportunity to work with industry stalwarts. Therefore, it is also necessary to have well-known experts on their payrolls and publicize their presence to attract employees.
Lastly, employees are keen to join startups that keep up with changing technology trends because it helps them gain experience that could future-proof their careers. This, in most cases, is more important for them than the immediate salary in hand, though they would also like it if perks and salaries were also at par or better than the competitors and rival companies. Most people actively seeking jobs, or a job change, are on a personal mission to find their place in the world. Therefore, a startup that appropriately appeals to that mindset will always attract the right talent, even if more prominent companies make identical offers.