We are living in the age of the Great Resignation and it’s proving to be costly for tech startups. The U.S. Bureau of Labor Statistics reported that around 4.4 million Americans quit their jobs in September 2021. This trend started in the spring of this year and hit the tech industry especially hard. The Harvard Business Review found that resignations within tech increased by a whopping 4.5% over the previous year.
As millions of employees quit their jobs, there are also more job opportunities available to them than ever before. The Bureau of Labor Statistics report found over 10 million open jobs across the U.S., which is “2.5 million higher than the pre-pandemic series high of 7.57 million reached in the fall of 2018.”
So with an increasing level of pressure on employers to replace the talent they lost, it’s an employee market. And as a startup, it’s often hard to compete with the salaries and benefits offered by more established enterprises. Thankfully, my company has not faced this issue and has been recognized as a top startup to work for.
I am constantly speaking to startup CEOs who are struggling to find and secure talent. With that, I’d like to break down five of my best tips on how your tech startup can attract more CVs:
Get your branding right.
Everyone knows that good branding can attract prospects and customers. But building a brand is also crucial to attracting the eyes of potential team members.
Most people looking for a job will check out the company online to gauge whether they’re the right fit. With a well-designed website, a large and dedicated social media following, and a fun and relaxed company voice, prospective employees are more likely to be intrigued.
But don’t stop there. Foster transparency by letting job hunters hear from your current team members themselves. Use your company’s social media and blog to feature the people behind the scenes and motivate them to post about your company themselves.
Build a strong core team.
A survey conducted by TalentLMS and Workable found that 72% of employees working in tech/IT roles admitted they are thinking of quitting their job in the next 12 months. The study found that the No. 2 reason employees want to leave their jobs (after salary and benefits) is because it doesn’t give them the chance to progress in their careers.
When you’re starting a new initiative, every hire counts. By building a core team that is excited, talented, and highly motivated to succeed, you can attract the eyes of other prospective employees who want to excel at their careers, gain skills, and expand their knowledge.
An attractive core team can easily be a defining factor to employees seeking a position that’ll help them grow as an individual. And perhaps more importantly, a motivated team will push each other forward and keep each other engaged and committed.
Let employees own what they do.
While there are things that an enterprise can offer that a startup can’t, working for a startup can also offer unique perks.
Most startups require employees to pivot, think on their feet, and learn on the go. That’s because as opposed to being just another cog in a large machine, startup team members play a crucial role in making sure the business succeeds. Therefore, each employee has the unique ability to make an immediate impact on the company.
For leadership, this means you need to rely on your team and allow them to excel at their positions. Give them the opportunity to expand their knowledge and own what they do. Trust them to do their jobs well.
After the lockdowns, we all saw how productive we could be from home. During that time, many employees reconsidered their commutes as well as the number of hours spent in their offices. Millions of people realized they were able to successfully work while spending more time with their families. In fact, one study found that only 11% of all employees want to work full-time from the office.
Being able to work remotely is quickly becoming an expectation among tech workers. And don’t fight it. The happier the employees are, the better their work and the more motivated they are to succeed.
Create a positive work culture.
When people talk about a positive work culture in the tech industry, the first things that come to mind are usually gifts, pool tables, and beer in the office fridge. But a positive work culture is really so much more than that.
Create a work environment where employees feel comfortable offering suggestions, experimenting, and pushing the envelope. Where teammates can bounce ideas off of each other. Encourage your team to communicate, collaborate, and work together toward a common goal.
As CEO, I feel it is my responsibility to lead the pack in this regard by promoting open remote communication, connecting with my teammates, and giving positive and constructive feedback often.
Hiring for 2022
As we head into 2022 and our third year of Covid, there are many new considerations for companies looking to hire. If you want to snatch up the best talent (and keep them), make sure you are creating an environment in your startup that breeds high-quality work, loyal staff, and individual growth. Your whole company will enjoy the benefits.