Did you know that over 90% of Indian start-ups fail during the first five years? The 10% that do succeed must be performing things differently. One of the factors that can get you into that 10% club is having the right people in your team. You need to have resources who are committed to your organization’s vision and goals.
Recruitment Process and Start-up Success
Recruiting the right talent plays a crucial role in turning your ideas into a profitable business. Early-age start-ups need to have the right strategy when it comes to hiring. A majority of start-ups are usually bootstrapped and have limited funds for hiring and retaining employees.
Not having the right recruitment process leads to unnecessary spending on talent acquisition. In addition to this, not hiring the best talent could result in less than optimal productivity, hampering a start-up’s growth prospects.
3 Crucial Considerations Before Hiring for Start-ups
Now that we know how important the recruitment phase can be for the success and growth of a new business, let’s take a look at 3 crucial considerations that one should be mindful of when hiring for start-ups.
1. Know Your Why
Knowing why and what you are hiring for can help you to set your hiring process in the right direction. It requires understanding why you need a particular person for your organization. What skills do you require to do the job at hand? Do your potential candidates have the right skill set required to do this job? These are some of the important questions that you need to ask before hiring an individual.
To avoid receiving irrelevant applications, you must focus on drafting the right job description. Your job description should give a fair idea as to what the candidate has to do daily.
Knowing why helps in not receiving irrelevant applications. It gives clarity in hiring and makes you hire right-fit candidates.
2. Set Your Non-negotiables
Setting up your non-negotiables is very important if you want a higher employee retention rate. It requires identifying how your organization functions and what values are important for you as an employer. Accountability, punctuality, and a solution-focused approach can be some non-negotiables for companies. If you can’t guarantee fixed working hours and want employees to have the flexibility to accommodate time-sensitive work, you must mention it to them.
Having a high employee turnover rate can also hamper your brand’s reputation. You can easily save the pain by including your non-negotiables in the job descriptions. You can include similar non-negotiables while drafting the job description to attract those genuinely interested in the work.
Clear non-negotiables create motivation in candidates and help them to excel in their role which indirectly benefits the organization in terms of their business.
3. Focus on Employer Branding
Creating a strong brand name in the industry will definitely ease your worries when it comes to recruiting the best talent. You should always highlight what the individuals can get from working with your organization. One of the best ways to build a strong employer brand is by analyzing the organization’s work culture and making it a good place to work. Employer branding can help you obtain the right talent without spending a ton of money and resources.
If you have a high employee retention rate, you must highlight the same. It gives people a sense of security, and they are more likely to join a stable organization.
Employer branding builds brand identity in the market, helps in acquiring the best talent, ensures better financial stability.
Conclusion – A Unique Onboarding Process
Hiring plays a crucial role in early-age start-ups. The chances of success or failure of a business depend on recruiting the right talent to a great extent. One can easily avoid mainstream mistakes by following the above-mentioned tips when it comes to hiring for start-ups.