How To Hire For A Not-So-Secure Startup

Running a startup is an exciting prospect. Opening up a small, shoestring-budget organization with nothing but hard work and passion to guide you can be exhilarating, even if it can take a great deal out of you. Luckily, this is how the best success stories are made, and so you're on the right tracks to get out there and define a better life for yourself through a growth mindset alone.

While you may have a good amount of experience applying to many different positions and roles in your career thus far, even using CV Experts to refine your application, now the time comes to hire, and that takes a different set of skills. Moreover, it's hard for a startup owner to really sell as a position at their startup, especially because a top-level salary is unlikely something you can offer, nor job security, nor prestige, nor the guarantee of success. In fact, startups are more likely than not to fail.

So, on that lovely note, how can you bring in the best staff when you're in a position to do so? Let's consider that, below:

Secure Higher Positions Pending Success

You may not be able to offer senior level roles or top salaries upfront, but you can dangle the carrot of future leadership positions as long as you make sure they're concrete and not just vague. Be clear that the early employees will be first in line for those higher-up spots and bigger roles if milestones are achieved down the road. You need to map out a realistic pathway - for example, join today as a junior developer and you could be promoted to senior engineer or tech lead within 2 years if things take off according to plan. People are attracted to that actual potential for career growth and upward mobility they might not get in a hyper competitive workplace.

Stock Guarantees & Certain Dividends

While you likely can't match competitive salary rates straight away, you can offer something possibly better - by giving them an actual stake in the company's success. Remember the artist who once took Facebook stock? You could also guarantee they'll receive a percentage cut of any revenues or dividends once the company starts earning depending on the split or their contribution. The riskier the endeavor for them, the bigger that equity and profit-sharing piece needs to be. It's only fair, but of course, be realistic and quantify this in a contract.

Creative Control, Autonomy, Trust, Credit

Many employees are aware of what it's like to be told what to do, but a major selling point within your own firm is the level of freedom, autonomy and trust they'll have compared to a larger, more stifled org. Make it clear how they'll be empowered to take full ownership of major projects and initiatives right from the start without getting bogged down in red tape - without missing out on compliance of course. This can also inspire them to offer innovative ideas that will be put into action and properly credited rather than getting lost.

With this advice, you'll be certain to hire well, even for a not-so-secure startup.