Hiring the right talent for startups: A brief overview
Hiring the right talent for your start-up is the first step to a successful business. Like Mary Poppins said, “Well begun is half done!” It requires no genius to decipher this one. Whenever you start something new, remember to begin it as well as you possibly can.
Your start-up is so much more than just a new endeavor. It is a manifestation of your creative imagination. So when it comes to hiring for your start-up, you surely want to do it right and get the best talent there is. After all, it is the people who will be taking your innovation forward.
It is common knowledge that a good team is a stepping stone to success for any business. It can make anything possible and allow your start-up to realize its full potential. The question is how does one go about hiring the right talent.
Let me help you find the answer to this daunting question everyone is asking.
Pick the skillset combination you want
For hiring the right talent for startups there are two types of skill sets that you want to look out for:
First are the common skills that you want in all your employees. These are qualities like drive and zeal to work, team spirit, passion for the job, decision-making ability, sense of responsibility, etc. There is no dearth of adjectives I can use to describe this one, but I am guessing you get the idea.
Second, is the specific or particular skill set. The idea of this is that everyone in the team must bring in a unique quality that will be an asset to the working of the team in total.
Picture this: A tech nerd, an enthusiastic fresher, a ruthless team leader, a nerdy hacker, and a talks-a-lot public networker. Individually, they are one skill per head but if you bring them all together, they complement each other and will take your start-up to soaring heights.
Go beyond the sophisticated resumes and scripted interview answers
Hiring the right talent means taking a creative approach for an interview. The interview is your chance to bring out the best of their potential and see where and how you can utilise it.
Everyone comes prepared with standard answers to standard questions but some creative and challenging questions can go a long way in understanding the candidates truly. Another way is to put them in challenging situations to assess their responsiveness to what is thrown at them.
You can even consider changing the setup for the interview and not stick to the conference room setting. Get them interacting with other people in your team and you can assess their people's skills. An effective team player will show politeness and respect to their peers.
A non-conventional interview, if done right, is a great chance to know the various talents and abilities of the person you are hiring for your team.
Making an appealing and attractive company to draw out the best
An important part of hiring the right talent for a start-up is also to get a good set of applicants to make your pick from. You will have to focus on building a company that people want to work in.
A company is known by its values and your personality as an employer. Ensuring that the principles and ideals of the company are shared publicly is essential for appealing to future applicants.
Make your company known for all the good things. Your social circles, industry contacts, and online presence are all vital for you to be a known organization.
The other aspect of attracting talent is to take a cue from Don Vito Corleone and make them an offer they can’t refuse! While the pay cannot be very competitive in the beginning for a start-up, it is pretty frequent for employees to be granted equity in the start-up.
Equity compensation is desirable for employees as ownership in what can be a successful company someday has immense long-term benefits. For this, your employees will not even complain about being underpaid.
To build a fantastic start-up you will be incessantly making tough decisions. So hiring the right talent to help you with your work will make it just a little bit better.
Hiring the right people, at the right time with the right talent, for the right job should be a priority for any start-up. Assuring the applicants that your start-up will be a propeller for the candidate's visions and ambitions is a great way to get them interested in working with you.
Make your organization stand out from the crowd and don’t shy away from getting all innovative with your hiring procedure. That’s the advantage of having your own business. You make all the decisions that can change the course of your business.
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Frequently Asked Questions
1. How Do I hire the right people for my Startup?
- Following are some tips to hire the right people for your start-up
- Make your company's values public
- Specify your expectations from each job and position
- Consider hiring freelancers
- Try innovative ways to conduct interviews
- Find talent through social media
2. Where can I find talent for my start-up?
- There are various professional websites like LinkedIn, AngelList, and Xing where people create their profiles consisting of their qualifications and experiences. Another way is to hire freelancers using freelance marketplaces like Fiverr, Upwork, Toptal, PeoplePerHour, Freelancer & Guru, etc.
3. What are the challenges that startups face when hiring talent?
- The initial pressure of beginning the process
- Not knowing where to start
- Having no experience in hiring professionals
- Weak skills in negotiations
- Lacking clarity on workings of the company
- Lacking criteria to properly assess candidates
- Not having marketing tools to attract the right talent
- Incomplete understanding of the work by the interview takers
4. How many employees should a startup have?
- Depending on the stage of development, the number of employees also varies. In its initial stages, a start-up may work well with 5-6 employees, but as the start-up expands and the burden grows, the startup must hire more people accordingly.
5. How do start-ups pay employees?
- Startups often pay through various components such as salaries, benefits, and equity, i.e., profit sharing. The compensation is decided on the basis of where the startup stands and the employees' experience, role, and qualifications.
6. Who should a startup hire first?
- A startup should first hire people for managerial positions like CEO, COO, CFO, Marketing Manager, Sales Manager, Customer Service Representative, etc