Momentum Works has been aggressively hiring the last few months, and we’re always on the lookout for good talent (more on this later). We were recently invited by a leading tech website to give our thoughts as a “startup” on hiring at the early phase of expanding the company.
We were more than happy to contribute and share our thoughts with our counterparts, but it got us thinking. So we put our heads together and here’s our top 10 recruitment and retention tips!
1. Consider the cost of NOT hiring the person
Would hiring them free your time up and allow you to focus on more strategic objectives
2. Is there enough work for them to do?
You may be swamped right now, but do you have enough work to keep them busy for 3-6 months? If not consider hiring someone on a contract or part time basis.
3. Pay them a decent salary
Few startups are cash rich, but if your new hire is always worried about paying their bills – or will easily get their head turned by a better package – it’s only a short term saving and you’ll be worse off in the long run.
4. Always be interviewing
Start looking for good people as soon as you start the business. Finding the right talent takes time, so ensure you have a good pipeline of prospects to tap into.
5. Look for attributes that you can’t teach
The ones we look for are motivation, flexibility and logical thinking. What is it you look for?
6. Would you sit next to them on a 5 hour flight?
You need to get along with the people you hire, especially at the early stage when you will be working with them so closely.
7. Communicate your plan
When you’re just starting out, there needs to be a strong hand on the rudder, but everyone needs to know that you know where you’re going! Companies change direction all the time, it’s just one of those things you have to deal with. Make sure everyone knows what’s going on and why.
8. Grow the company so there is room and projects for everyone
“Idle hands are the devil’s workshop”, keep everyone engaged and driving towards the same goal.
9. Mix old and new staff
Rapidly expanding teams can often create inbalance: new employees feel deprived of guidance by the “old guards” (even though the old guards probably only joined three months ago); and early employees feel the founders do not appreciate them as much as before – or that the new hires have easier roles and are paid more. Try to mix your team members up to ensure that cliques don’t develop.
10. Reward early employees for the risk they took
Give them more with equity and allow them to grow as much as possible within the company.
Let us know what you think and if you have any tips of your own!
Thanks for reading The Low Down (TLD), the blog by the team at Momentum Works. Got a different perspective or have a burning opinion to share? Let us know at [email protected].