Even in the wake of the coronavirus outbreak, many European startups are still pushing forward with recruiting. Top talent is almost always valuable, especially for fast-growing, early-stage ventures that are trying to get off of the ground.
The challenge lies in cost-effectively attracting high-quality candidates. It can be hard to find the perfect fit for your organization if you don’t know where to look.
Here, we highlight five recruiting methods you should start using today to keep your talent pipeline active without breaking your budget.
1. Set Clear Goals Around What Gaps You Need to Fill
The first step in hiring top talent is to clarify what your startup needs:
It may not be evident to your entire team what gaps you need to fill. Or, you may not be aligned on what the most important next step is for your business.
Go through the exercise of creating a candidate “avatar” that represents your dream hire:
Answering these questions can help everyone get on the same page, especially when you are still refining your recruiting process.
Then, add metrics to help you measure your progress against these goals. Set benchmarks around cost per hire and time to hire so that you have targets to help guide your efforts.
2. Clarify Who You Want to be When You “Grow Up”
To get people interested in who you are, you need to create a compelling brand that convinces outsiders you are worth their time. Attracting top talent is a competition in many ways. More likely than not, the person you want to hire is in conversations with multiple companies.
If you don’t already, articulate a powerful mission statement and vision for your startup. Think carefully about what reputation you want to build in the world. Doing so will help you define your brand voice, as well as drive much of your promotional efforts.
Additionally, know that every early-stage hire impacts your culture in a significant way. Make sure you are intentional about establishing a culture so that you can bring in new teammates who fit the mold well or help you steer it in the right direction.
3. Find What Works and Double Down
Always keep track of what works and what doesn’t when it comes to recruiting. You want to invest more in the aspects of your talent pipeline that yield top talent while pulling back on areas that don’t.
Gather as much information as possible from interviewees, regardless of whether or not they accept an offer:
It’s hard to know what outsiders think of you unless you ask them for feedback. In many cases, you will be surprised by what you learn when you allow someone else to speak honestly.
4. Be Flexible and Open to Contracted or Part-time Talent
In today’s day and age, it’s becoming increasingly common for companies to work with freelancers or part-time employees before committing to a full-time hire. When your team is small, it can be scary to add a new, permanent face who will be working closely with you day in and day out.
It may be in your startup’s best interest to go the contractor or part-time route to gain clarity on exactly what you need. Think of this approach as a way to trial potential full-time roles or skill sets in a low-risk manner. You can learn if you truly need a new full-time teammate or just an expert to give you 20 hours per month on tightly scoped projects.
If you find someone you love working with and is enthusiastic about your mission, ask them if they would be interested in a full-time position. You already have a strong working relationship, and the contractor is already familiar with how you operate. Overall, this is an excellent strategy for validating potential hires without burning your recruiting budget.
5. Keep Tabs on Many Different Networks
You don’t always have to go through traditional channels to find new hires. Many times, the right person could be an ex-coworker of someone on your existing staff or a former classmate from business school.
If the position you are trying to fill requires significant knowledge about your unique product or service, consider an internal promotion first. Is there anyone on your team who could be successful if given the opportunity to step up to a new challenge?
By promoting someone internally, you can swap out a hard-to-fill recruiting need with an easier one. Your internal talent moves upward, thereby opening up a lower position.
You can also create an employee referral program and incentivize your staff to help you fill openings. Give monetary rewards or bonuses to those who help you qualify and hire exceptional candidates.
Finally, create opportunities to meet people in your community through recruiting events or other company-sponsored engagements that bring people together. You may be one or two degrees of separation away from your next A-level hire!
Why Work With Funded.club
After implementing these strategies, you may still need some help. You’ve exhausted your professional network, built a powerful brand, set clear goals, and tried working with contractors. However, you’re still having trouble finding that perfect fit.
Funded.club partners closely with founders to provide fixed-fee, outsourced recruiting services. We find top-quality candidates according to your needs, review applications, and coordinate interviews so that your team can get back to growing the business.
Want to learn more about how we work?
Contact us today.
Ray Gibson is founder and CEO of Funded.club. He brings 20 years of experience in recruiting across Europe, North America and Asia and 5 years running his own startups.