The basic economics states that there are four factors required to start an organization, among which the most important one is the human resource. Human resource plays a vital role in the development graph of any organization big or small. A stable organization is more stable with a stable load of employees. And when it comes to a startup company, not only the manpower, but the capital resource is also very important.
For any statup company getting funding from the venture capitalists and angel investors will be easy, if they have a good hold of excellent manpower. But it is quiet difficult to attract the excellent hub of talent and experience as they are not able to pay much to them to keep them beholding for a longer period of time due to shortage of fund. Nagesh Srinivasgopal, CEO, Ideaonthink says, “Being a startup company, we are not able to pay them much but surely provide some other benefits like quarterly incentives and the employee of the year which is recognized.”
The basic criteria’s that a startup looks upon are the loyalty of the fresher not only towards the work, but also to the organization. “If a candidate knows the basics of our working process, we do hire them and train them. We spend a lot of time, energy and resource to train every fresh candidate. So we do expect a loyalty and adhesiveness towards the organization,” says Srinivasgopal. This becomes the learning phase for any candidate and when they hop their job for a better opportunity, they are more prepared for it.
Finding correct source of inflow and the right amount of knowledge is becoming more difficult in the process of recruitment. Says Rahul R.F., CEO, ONZE Technologies, “Social media networking has become of the most important source of recruiting freshers. We prefer online communities, forums, startup conferences, meet ups to find and motivate new talents. We even take the help of HR Consultancies for the recruitment process.”
Not only does the startup companies, but the consultancy recruiting for them has their own criteria for recruiting fresher.”We focus on the candidates with the right attitude to work with a startup or can be said to be the typical startup guys, able to understand the complexities of a startup company, ready to face the hardships and challenges and most important should be loyal,” adds Wakar, CEO, Sutra HR.
High employee turnover costs business owners in time and productivity. “Hiring is still an easy task as compared to retaining them.. We compensate the pay with stock options and great types of work they can do and the technology they can work on, is the icing on the cake,” says Rahul.
Rahul says, “We do try to check for certain inputs in the candidate before hiring such as the flair of learning technology, working from start to completion, versatile, quick learner, and nimbleness should be fast and should have a high temperament to work on the deadline.”As every coin has two sides, so do this market also. To attract best talent, the company also needs to walk certain steps to reach to these people. They need to create a brand name in the market so that they are easily recognized by the Venture Capitalist for funding them as well as by the candidates. A good brand name may be a new blooming business in the market. This will not only attract new talents but the experienced professionals will also be interested to join your company.
“We require delivering the right message to the candidates clearing their misconceptions about the startup companies, ” says Wakar.
It’s all the part of the game of the market in which you float. If you need to stand there you have to be front and clear about the mission and vision that you and your company have. The market should be loaded with dart pointers for easy recognition.