AN OFFER THEY CAN’T RESIST
Thach Nguyen
Managing Partner @ Plenty Search & Startup Investor (ex-Airbnb, Google) ?????
How startups can win the war for tech talent in a shifting market
You’re meeting the perfect candidate. All the pieces are falling into place and you can tell the feeling is mutual. Inside you're dancing. Outside, you play it cool and ask: “So, who else are you considering?”
Their reply: “Facebook, Google, and Slack.”
Inside, you're crumbling.
In what universe can your new startup win against these Goliaths??
Sexy brands, attractive salary, and dazzling offices are just a few of the perks big tech companies seem to wield over startups in the talent competition. And it's easy to fall into the "highest bidder" trap. However, startups can attract the right talent without making crazy offers. In fact, you already have all the secret ingredients. Just make ‘em an offer they can't resist.?
(FYI - I'm not one to waste a gif-worthy moment!)
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1. A reason to wake up in the morning
Call me?romantic, but I believe that if we're going to spend 1/3 of our life working, we should at least wake up excited about it. And I know I'm not the only one. Research shows that meaningful work is the primary motivation for Millennials and Gen Z. We want work that aligns with our values.?
Here's your first advantage: as a startup, you're already on a mission. So make sure your mission and vision are front and center in your communication. Use it to connect with future employees. Show them how their role can contribute to the overall mission, instead of a generic job description. That way, you can attract the candidates that are equally excited about your vision and more motivated to join.?
2. A role of their own?
Consider this: (1) being employee #5 at a startup that becomes a unicorn OR (2) being employee #2,485 in a large corporation - which is a more exciting proposition??
As a growing startup, your second advantage is that you can give employees a chance to create their own role. They’ll get to flex their entrepreneurial muscle, put on their creative hat (and we're not talking about Crazy Hat Day), and explore different ways to be innovative in their approach, without being weighed down by corporate bureaucracy. This opportunity to be the "captain of their own job" is surely more appealing than being another cog in the wheel.?
3. Show - don't tell
Reading through job descriptions on LinkedIn, you'll see everyone claim to offer “a great culture" and “growth opportunities" for their employees. As a startup, you have an advantage in both these areas compared to larger companies. Your employees will have a chance to define the company culture and have room to grow.?
The key is to show, not just tell. When approaching potential hires, don't just talk about growth in generic terms. Instead, provide real examples of key players that have joined early and had great trajectories due to their performance. At Plenty Search , our own Director of Operations, Amira Elfeky , started as a Researcher and has grown to lead our entire Research & Operations teams and now runs half the company. Who’s the Amira of your organization and how can you proactively highlight that?
In the heat of the talent competition, it may seem like having deep pockets is the way to win. However, there are unique advantages that your startup already possesses. A clear mission and commitment to employee's growth are key to attracting the talent you need. After all, didn't David win against Goliath, once upon a time?
Operations Manager ? Producer at The Nearshore Cafe Podcast ? Gamer
2 年These are all valid points! In fact, I've heard "I want to have an impact in the company, to be able to drive the business as a partner, not as just another employee" from dozens of candidates, especially from those candidates that are well paid already. The sense of belonging brings the holy grail of any job: Engagement. Another thing I share is my personal input about why I love working at XYZ company and mention specific things that I know the candidate will understand. For example: "I love how I can share feedback and my leaders take it into consideration, we made a change in X process because of my feedback!" or "There's no crunch here, we value our personal time and we understand we are a father, a mother, a friend, etc... who want to spend quality time with our beloved ones". In other words, EMOTIONAL SALARY FTW!
Senior People Business Partner at Iterable
2 年Tak, it’s refreshing to read your article. As an HRBP in the tech start-up works it was also so refreshing to see that most of your points about the offer weren’t comp related! It can be tempting to bend over backwards for a great candidate on salary/bonus, but recruiting and HRBPs have to balance internal pay equity as well. I feel like it’s so often overlooked in articles about this. Thanks for the great tips!
Principal Recruiter @ Husk Talent
2 年Oh man... story of my life! Great article!
Great article Thach! Purpose matters a lot for people in their careers. One thing to add is with hiring FAANG companies in hiring hibernation it's the best time for startups to hire in the past decade. Reduced competition is a huge gift.