You’ve got the funds? Time to talent!
Perks & Product
This is the last and most awesome post of our series to get you started on getting your hiring in order.
In the previous posts we’ve covered:
Post-funding startup recruitment (1/3): People: About people and leveraging your company culture
Post-funding startup recruitment (2/3): Process & payment: Getting agreement on your process, whipping out your ATS, interviewing and establishing relationships. And thinking about salary and equity.
Post-funding startup recruitment (3/3): Perks & Product: Perks are nice, product is more important than you’d think. Let’s get going!
This is the fun part! Perks are those things you offer to your employees that they brag about to their friends and family when they are out of the office.
The Google’s and Facebook’s of the world have got perks down to an art. But c’mon, startups can’t even begin to compete with those big fish, right? Wrong.
You may not be able to provide 24-7 gourmet meals or computer accessory vending machines or free bikes to use during the workday, but there are a number of things you can do to make your employees feel appreciated!
Take your team on a few company outings a year, have a holiday party, provide ergonomic seating, have happy hour on Fridays, buy your team lunch a couple of times per week (more than the typical bread + cheese + spread), maybe allow dogs in the office, and deck your team out with company branded shirts or sweatshirts.
And involve/invite the families and friends of you employees to your events! Believe it or not, when you do this the retention rate of employees who involve people from their personal lives is typically higher.
Oh yea, and don’t forget to take lots of pictures and post them to your Careers, Facebook, and Glassdoor pages so candidates can see how well you as a Founder treat your team. This is the part that should make you feel good about what you are providing to people.
This one is a no brainer. Have an awesome product or service and people will knock on your door asking to help build it (eventually, hopefully).
If your product isn’t sexy, groundbreaking, or cool, the ‘A’ players you want to hire to help you build it will simply not want to work for your company.
In this case, you may need to settle with ‘B’ or ‘C’ players, and that is something you should try to accept early on before you waste a bunch of time, money, and recruiting efforts on hunting the best of the best.
Maybe ask yourself this: If a recruiter approached you, would you leave your potentially high paying, cushy job and take a risk on your idea? If the answer is no, it’s probably time to think of something else or settle with ‘B’ or ‘C’ talent.
A way to make up for this is to offer equity along with long term contracts and/or have an awesome company culture and perks.
So there you have it… the 5 P’s. Finding good talent is challenging, and competitive, but we’ve all got to do it. Good luck to you, my founding friends!