3 Golden Tips For Startups Hiring Their First Employees
Entrepreneurs depend heavily on their staff to make their startup a success. That’s why it’s important you get it right.
Hiring your first employees is one of the most exciting and consequential steps in establishing a business. Follow these 3 golden tips to make sure you hire the right people.
1. Work around your startup budget
Do the math and figure out how much you can offer a single employee. If you’re unable to meet the industry standard, provide startup equity to balance it out. Not only will that compensate a lower salary, but it will also motivate your first team to work harder as they will be more invested in the company’s success. Else, consider outsourcing talent or hiring somebody part-time to lessen the load off your shoulders.
Entrepreneurs that think they can save money and do it all end up regretting it later. Employees help speed up progress and leave the business owner’s hands free to focus on non-operational activities leading to faster startup growth.
2. Hire somebody your startup likes
In the initial days of a business, you will be interacting a lot with your team in close quarters. Startups can be incredibly stressful and the last thing that you want is to tiptoe around an employee you clash with. Therefore, it is crucial that everybody in the office (or garage if you still haven’t rented a place yet) gets along with one another.
Avoid bad hires by having multiple interviews with the candidate. Make sure your partners and other initial hires are present in the interview process. They too should be able to assess whether or not the new recruit will fit your startup’s culture.
3. Don’t get blinded by shiny CV’s
Some applicants are bound to have more impressive track records than others. Don’t let that be your only guiding light. First-time entrepreneurs are often clueless about the hiring process and just pick the person with the best qualifications and skills. That can be a mistake.
Dive deeper and look beyond the CV. Find out what their work style and ambitions are. Do their values match your vision? Are they able to work in a high-stress environment? Are they willing to take on multiple roles as the startup evolves? Can they be counted on to stick around until the business gets stable? These questions can be answered in the interview process by asking the candidate for examples from their past that demonstrates these qualities.