Hiring is always difficult, no matter your company’s standing, history, industry, or the roles that you are looking to fill. But in the current labor market, where potential employees hold as much power as they have in recent history, and long-term employees are resigning and quitting at astronomical rates, hiring has perhaps never been more difficult. Add to the mix that you are a startup with limited resources and limited history, and you’ve got a cocktail of bad hiring conditions. Here are a few things that your tech startup needs to attract new talent and fill your job openings.
Work-Life Balance
The most important thing that your tech startup needs to attract new clients is a healthy work-life balance. The idea that startups have to require outrageous hours from early employees to stay afloat and grow is an idea that is best saved for the past. Today’s workers want flexibility to enjoy their life outside of their work. Offering your employees a work-life balance that is structured is essential. Try updating company policy so that off-the-clock email correspondence is discouraged, and that set work schedules are set and will not change or grow.
Employee Stock Options
Another crucial element that your tech startup needs to attract new talent is to offer employee stock options to your new hires. As a startup, the best thing that you have to sell is the opportunity to get involved early. Offering employees stock options as a startup can make your early employees wealthy if your company ends up successful. Registering as a C-corp allows you to give employees stock options. Registering as a C-corp can also help your business avoid double taxation from the IRS. Registering as a C-corp is a relatively simple process that has a lot of benefits for your business.
Location Flexibility
The final thing that your tech startup needs to attract new talent is to offer new hires location flexibility. The pandemic has taught us that many jobs can be accomplished just as well, if not better, from home, or from anywhere with an internet connection really. If you can offer your new hires complete remote work, or even a few days a week of work from home scheduling, you may find that there is a wider collection of applicants to your job postings.
Hiring talent is a challenge for every business. But as a tech startup, there are unique challenges, since resources are tight and offering huge salaries is likely not an option. Try offering these three benefits to attract talent to your startup.