Having the right recruitment strategy in place is vital for any start-up. A strong team is the lifeblood of a fast growing start-up. Great people build great products, acquire loyal customers and build a robust and sustainable company.
Inevitable cash constraints can mean that in an early stage ventures the recruitment process may consist of ‘knowing someone, who knows someone’ but before you offer that position, take time to consider the following:
Investors invest in talent
No matter how much you believe in the vision of your business, most ideas will change and develop during the route to market. Many hugely successful companies begin as something else (Edinburgh’s own FanDuel began life as the fundamentally flawed HubDub). The ability to learn, adjust and improve as you gather customer and user feedback allows a strong team to adapt, change and build a great product.
Investors often state that whilst the technology needs to be attractive and a significant market illustrated, ultimately the team and its passion and resilience are the key reasons why they will eventually put money in.
Hiring is a skill; It’s not magic and it’s not luck
Despite all the potential problems that can arise with hiring, there is a huge upside if you get it right!
Every growing company faces the same challenges but designing a hiring process that allows you to evaluate the skills of an applicant and ascertain whether or not they are a good ‘fit’ will make the process easier. It’s about more than just asking a few questions.
High performing teams are generally a group of amazing individuals mixed together with shared values and vision. It’s this culture that binds you together with a ‘will to win’ and helps you to survive the tough times. Articulating this mindset clearly to a potential applicant allows them to make an informed decision about whether yours is a company they can flourish in and ensures that they know what’s expected of them in the role. TalentSpark can assist you in creating a strong employer brand to attract the most gifted team. Nothing is more attractive for a talented job seeker than a team of highly skilled co-workers.
Small companies don’t have the luxury of making a lot of mistakes
As a start-up you are always resource constrained and yet you still have to develop a great product, find a viable business model, potential customers and remain focused.
Every individual you hire has a crucial role to play in the development of your business. Ensuring someone is the right person for your team can be difficult, but it is essential if you want to keep your team members aligned and your company on track.
One bad hire can derail everything; it’s one of the most risky and costly mistakes you can make at start up stage so if you do discover that your new hire isn’t right, resolve the issue quickly.
TalentSpark is a new initiative to help address the needs of early stage companies. We can assist you through every stage of the hiring process. Whether it’s refining a job description and providing a free platform to advertise or undertaking a bespoke Executive Search.
Get in touch today to discuss your needs.