Startup founders face a multitude of challenges. Hiring top talent, is one of them. Having the right people on board can be the difference between a startup’s success and failure. These early stage hires must be able to hit the ground running; adapt to requirements and pace.
Here’s how the ecosystem looks at hiring:
“We’ll come to you all” :
Startups in India are now grabbing talent from tier-one and tier-two colleges. The IIT and IIM frenzy has taken a backseat. Entrepreneurs are looking for individuals who are talented, hardworking, and passionate with an eye for both technology and business. Students look forward to the wealth of experiences and responsibilities that startups offer too.
“Give us more” :
The Skills Gap Dilemma troubled the startup world for a while. For a long time, people with Science, Technology, Engineering, or Math (STEM) skills were hired. Today, startups want people who have those skills. But they want those who come with experience in management, operations, sales, or other business know-how more.
“We’ll give you more”:
Startups are willing to pay competitive salaries. It is not uncommon to see 100% salary hikes for niche skills such as mobile app developers and UX designers. Most startups also offer ESOPs and significant premiums. Startups have found that equity and stock incentives motivate employees to work much harder. It’s not just the MNCs that have brought the big guns out now!
“Specialists! Common over” :
Startups were earlier tempted to find that one jack of all trades. But waiting for that all-round star to come along probably isn’t the best when faced with tight deadlines. They therefore, now hire talent that specialize in different areas, seeking to build a strong team that complements each other’s skill sets.
“We’d like some structure now please” :
When the startup culture first kicked in, an interesting informal meeting (at a conference perhaps!) would result in a quick Skype interview. And an offer. A lot of startup founders now hire talent after assessing candidates through structured interviews and proper screening. Individuals have to prove that they are resourceful willing to adapt and learn and are self-aware.
“Come, talk to us”:
Startups made a major blunder early on – they only looked for candidates when they needed them. Sometimes, they looked much after they needed them. They were therefore, always recruiting re actively. Entrepreneurs are now looking at hiring differently – they build networks and have conversations with applicants even if the role isn’t available. This way, a hire pool is always at the ready.
The ecosystem has evolved, and is now open to any kind of change that will help it grow. If you’re looking to join a startup, you’ll need more than just your passion and your skill. Learn to speak startup-style. Learn to do start-up style.