In almost every job interview, the candidate expresses curiosity about the company’s work culture. The notion of employee happiness has become an important factor in employee retention, in a move that is typical of the post-pandemic era. In this article, we survey what employees look for in a startup.
In recent times, global events have made it clear to us that the way a company treats its employees has a significant impact. The pandemic explored the possibility of remote work and many employees have come to value a company’s recruitment offer to them. The ‘Great Resignation’ we witnessed over the past months across the US and other parts of the world left a huge talent gap in these companies. In more recent times, investors have become tight-handed in the wake of uncertainty prompted by events like the Ukraine war. This has led to an exodus of sorts, where employees in startups have left in favour of more stable opportunities in MNCs and established companies.
In this scenario, companies are considering important questions: are we doing enough? Do our employees see value in what we offer? What does it take for our talent to leave us in favour of other opportunities?
An ideal organisation to work for varies from person to person. Startups in particular are favoured by a section of candidates, for certain reasons, the most important one being the learning opportunities and the chance for firsthand experience in a variety of roles. However, retaining employees in the long run and being able to build an empire with the best talent demands a little more from a company.
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What Motivates Employees To Work For A Startup
In a 2019 study by LinkedIn, the top 25 best startups to work for had a few commonalities. The top startups to work for were privately held, less than 7 years old, had an inclusive work culture and saw very fast growth in a short span. Below is a compilation of some of the things that draw candidates towards working for a startup.
The Experience
Startups have a reputation for being cool, casual and not too hierarchical. Employees trust that a startup fosters creativity and out-of-the-box thinking much more than an established company would.
The Learning
A startup that has barely set itself up would need to be built from scratch in every aspect. The opportunity to take ownership of and lead tasks enables young employees and freshers to acquire hands-on experience that may not be possible in an established company with demarcated roles. Making decisions by themselves also benefits employees by rendering confidence and leadership.
The Flexibility
Flexible working hours, permitting remote work, free work culture and being able to have fun at work are attractive to a lot of people. Listen to this episode of our podcast JobTok, where Camille Ang talks about accelerating careers with fast-growing companies.
What Makes a Company a Good Candidate for Employees
We are moving towards an inclusive era where unlimited leave, four-day work weeks, allowances and flexibility for well-being and caregiving are prioritised to ensure the mental well-being of employees. This also helps with work-life balance. In terms of work, employees are drawn to companies that nurture their need for professional growth and excellence.
Employee engagement is one of the emergent aspects that determines not just a company’s chances to attract top talent, but also the extent to which their employees wish to stay with them. Meaningful employee engagement and the chance for employees to bring feedback to be implemented by the company go a long way in making an employee feel satisfied and loyal.
Here are a few tried and tested tips for increasing your worth as a desired employer.
- Offering the Promise Of a Steady Career
- ESOP Startups
- Identifying Clear Goals
- Good Management
- A Supportive Workplace
Offering the Promise Of a Steady Career
If your startup shows promise, is on a steady path to financial soundness and has a solid plan, your employees will want to continue with you. Getting your employees to believe in your product and share your passion is a big win. Listen to this episode of our podcast JobTok, where Prasad Naik talks about taking a career gamble.
ESOP Startups
One of the most desired prospects of a startup is the Employee Stock Ownership Plans (ESOP) it offers. If a company scales rapidly, holding stocks offers its employees a chance to benefit from the exponential profit making. This quick way to make money is a big incentive for employees who see promise in a startup.
Identifying Clear Goals
Once you have identified your milestones to achieve, it is important to stick to those and offer breaks as and when targets are achieved. A transparent relationship with employees helps them feel valued, respected and trusted.
Good Management
Bad leadership and micromanagement should be avoided as a startup scales up, as they are the surest ways to make your employees leave.
A Supportive Workplace
Employee benefits startups offer such as allowances, paid leave, insurance etc. are attractive to candidates. Certain startups are thriving and being commended widely after announcing schemes for employee wellbeing. Zomato became one of the first companies in India to offer up to ten days of paid menstrual leave a year. Many companies offer mental health counselling for employees on an individual as well as a collective basis.
There are added benefits to being a great workplace. A healthy and supportive environment contributes to good product development. When you become a hub for great talent, you become an ecosystem to foster innovation and groundbreaking ideas. This also lets you secure patents and develop unique research and design.
Overall, fostering a great work experience boosts professional excellence. If you develop a good work culture, your employees will enjoy working for you. This translates into passion, excellence at customer service and pride at being part of your company. A great workplace retains employees and motivates them to give their best.
Go on, then. Become that company that employees all over dream of working for!
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