What are the most important aspects of any startup? Some may say it is the business model, cash flow management or revenue generation. In any case, it’s undisputable that the actual startup team, and the hiring of new employees, is one of the key aspects of a startup’s health and its expansion pace.
Overcoming these obstacles and consolidating your assets, including the product and brand, can always feel easier when your co-workers are committed to the success of your venture startup. So how do you manage this, when you’re on a tight budget? When you’re planning your team expansion in 2021, here 10 points to consider, especially in industries where head count means growth and adoption of your corporate culture.
- Reduce interview related costs
In a selective process, you need to filter sometimes hundreds of CVs to end up with a group of ‘interview material’ candidates. In the times of the pandemic, interviewing in the office can be complicated and expensive. Interviewing by video call is the new way of doing the job and many of those apps are free, like Skype, Facetime, Whatsapp or Zoom in their basic versions. You should also think about how everyone’s time in the review process, and whether this can be scaled, or combined with other related tasks.
- Target highly-focused, but undervalued, professionals
You do not need to have only university graduates in your company. People with some experience in some software or who have already developed some of the skills you’re looking for are usually good at taking challenges positively and solving unexpected issues in a pro-active manner.
- Hire freelancers
Within ten years, freelance workers may represent more than 50% of the U.S. working population. What are the implications for corporates and corporate cultures?
In the United Kingdom, France and the Netherlands, freelance growth has outpaced overall employment growth. The number of freelancers in the European Union (EU-28) doubled between 2000 and 2014, making them the fastest growing group in the EU labor market, according to the Association of Independent Professionals and the Self-Employed (IPSE).
A similar trend is underway in the U.S. “In the United States, the freelance workforce has grown three times faster than the overall workforce,” says Jessica Alsford, the firm’s head of Global Sustainability Research. “Freelancers now represent 35% of the total U.S. working population and could represent more than half of the nation's workforce by 2027.”
Freelancer marketplaces like Fiverr, Upwork and Guru can help you find high quality professionals to manage specific projects, with the possibility of always hiring them in permanently later. Software testing, programming, graphic design, accounting, marketing, sales, and support – there are a plethora of experienced professionals with usually lower rates than your own local market.
- Expose your brand and increase web visibility using digital
People who are looking forward to working in your company have access to your website, your social media accounts and your team posts and articles online. They may have a sense of your startup culture before they ever set foot in your company for work. Communicating the values of your startup and publishing your vision for your market is a good way to attract interested professionals who might consider working for you. The message you are getting across on your online channels must be accurate as to your day-to-day and what you aspire to be as a startup. A sense of purpose can only help you connect with your future team members and employees.
- Ask your co-founders and employees
When you have projects to deliver and a short time to find people with the right skills and energy for the job, you will regret not having an employee referral program. In most companies I’ve worked for, employee referrals are a common place. The clear advantage is that your employee already knows the person he/she is referring to the startup and this recommendation saves a lot of time and money. Besides, studies show that a candidate referred by an employee is more prone to accept the job and is likely to stay longer.
- Have a full working plan for remote work
With reduced commuting time and cost for the applicant, a remote work plan can be more attractive. Working remotely at least part of the week is advantageous to employees who can spend more time with their families and who do not need lots of physical interaction with the team. Situations like the pandemic and the acceleration of digital transformation in 2020 have made startups and companies alike re-think their remote work plans and made them more flexible about it.
- Make your startup vision clear to reduce churn
Who are the candidates in your selection process that really believe in your vision and purpose? Employees who can see similarities between what you are doing and what they are doing or intend to, are the employees who will likely be more committed to the cause, stick around in periods of crisis and be less likely to leave, incurring another hiring process.
- Look for part-time employees, whenever possible
Bringing part-time employees to the company has lots of advantages. One idea could be to target employees in other countries who have the skills and could start remotely working immediately for your company until both of you decide it is time to commit, personally and professionally.
- Use your professional network to identify possible candidates, faster
whether you’re on LinkedIn, XING or another network, this will make the process smoother, easier and more cost effective. Spread the word that you are hiring and usually, your network pals will recommend a candidate.
- Offer other job perks/benefits
Employees value benefits when applying for a job. Offering experiences such as workshops, educational webinars and team building activities, are awesome and build loyalty.
In summary, hiring and onboarding new team members can be time consuming and costly to the company. If you reach out through your personal and professional networks, consider part-time and remote options, carefully measure who is involved in the hiring process from your startup’s side, and make sure the chosen candidate is a good fit.
