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Today’s Question: What can recruiters and entrepreneurs do to attract top talent from big-name companies to their small business or startup?
The answers below are provided by members of FounderSociety, an invitation-only organization comprised of ambitious startup founders and business owners.
1. Understand What Top Talent Wants
In the world of Internet business, it seems like everyone is jumping from company to company. To pick up the best talent out there before your competition does, put in the time and effort to understand what each individual wants, whether it be higher pay, more time off, or a corner office. The value of knowing each potential hire specifically is the difference between having them work for you and not.
First, I look for a specific type of talent — someone who’s not satisfied being yet another cog in the machine. Then, I offer something their old employer can’t, like a close-knit sense of community or a challenging, dynamic workplace where they’re given as much responsibility as they’re willing to take.
You have to be honest. We may not be as big as other companies or able to offer as much, but we will provide talent an opportunity to better themselves and grow with a company all the way to the top.
The most important factor in recruiting talent from established companies is selling the vision of your business. How will your company look in five years? How can you, as CEO, communicate this in a way that speaks to the employee’s passions, goals, and ethics? Rather than compete on perks, you can use this conversation as an opportunity to convince the person that your company is a vehicle for team success.
As a startup, you probably can’t compete with an established company on an offer letter — but you can offer incredibly meaningful work that aligns with your potential employee’s life purpose and allows them to rapidly grow and learn.
Look, people are always looking for new opportunities. You’ve likely worked with a lot of awesome people. Connect with them on LinkedIn and send them an occasional message. If you’re doing something with potential, those people will eventually come to you. And if they don’t come to you on their own, a quick message on LinkedIn is usually all it takes. Trust in the value of your company and always stay in touch.
