Getting the best talent for your business is tough, especially when you are a startup that has found itself within the enclave of big brands.
As expected, the big brands have all the money to spend in hiring and retaining the best employees; they have a broad insurance business plan in place should things go wrong, you may think and then wave aside efforts to lure great brains to your company.
However logical all of these sound, you may actually be missing a boulder to completely support your argument. Big companies such as the Silicon Valley tech giant – Google – has shown that getting a first tier employee to work for them has not always depended on the money they are offering. Perks and rewards play around the fat salary.
As a motivation technique, Google throws in their Innovation Time Off, which allows their engineers to spend 20% of their work time on projects which are interesting to them, while the project still fits within the overall goal of the company. This and other perks have held the company in the lofty position as the best place to work, three years running.
Knowing that it is difficult to attract the best talents when big brands roll out their cash, startups could use perks and rewards to their advantage. “A perk typically consists of something that could help the employee perform a job better,” according to an article on “What are Perks?” We know that getting a job done in the best way possible requires a talent, so an innovative reward system is required to attract talents to startups. Some employees may benefit from working at a young, confident student startup than an established business because they like the challenge it brings. Let’s take a look at some of the rewards small businesses could use.
- Location matters
The advice is for small businesses to play up the location of their office. It’s important to choose your location wisely then. It could be somewhere within easy access to public transport or near a public facility such as a park, library, or gym. The best employees actually do have a hobby, and the location of your office to the place of their hobby is a vibrant reward.
- Flexibility is the new routine
Small businesses may actually show their business to be the best place for top talents by offering to be flexible with the work time. Employees could be offered the option of work from home and then to report to the office when necessary. This, however, depends on the nature of the job.
- Stakeholder Option
Offer your employees a stake in your business. You could actually be doing your business a lot of good because when employees know that they have a share of the profit of your business, it becomes their business. It’s even a great way for additional remuneration for the employees.
- Emphasise Your Work Space
An innovative work environment is a killer option, and small businesses need to emphasise this in their recruitment campaign. Ben Yoskovitz advises the startup to consider things as comfortable chairs, great computers, useful software, quiet environment, and a killer infrastructure.
- Standing Desk
Routine work that involves sitting in a chair for a very long time may sound boring. You could capitalise on providing your employees with a standing desk option, but this should be done based on the nature of your job. If it is possible to combine sitting and standing, you may want to try both options.
There are a lot more options to consider in order to attract the best talents to your starting business. The healthy thing about all of these options is that they don’t rely on offering a hefty salary, thus keeping your business afloat to maturity.
