3 ways to hire well for your startup • TechCrunch
If you are hiring For your startup, you have to understand one thing: this is arguably one of the worst times to look for talent.
While inflation continues to rise, and the Federal Reserve raises interest rates, consumer confidence remains unchanged and unemployment remains at historic lows. The financial outlook for business and the market is bleak, but companies are still at the mercy of their employees, who seem to have endless options for jobs. The big tech companies may have brought about 10% of talent back to market, but those were generally not employees doing core business.
How, then, can early stage founders compete with larger, more well-funded companies in this war for talent?
See talent through a lens appropriate to the product market
Whenever possible, it’s best to slowly incorporate a great candidate into working as a part-time consultant or contractor and let things go well.
Most startups simply do not have the means to compete on the basis of capital, especially when it comes to talent.
Your first employees (first 20-25 people) are joining you because they are looking for something that even the biggest companies with money can’t offer them. Your task is to find out what this thing is and make it available.
Approaching early-stage recruitment through a product-market-friendly lens is a great way to do this. Think of candidates as your clients, get to know them personally, understand their career path, and learn about their gaps. Their gaps are your problems and the role you have to serve is your product. The two have to go together – otherwise the hiring won’t be good. When you find out, explain how they can get what they want from working with you and why they can’t get it from other companies.