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  • How to attract talented people for a startup?

    Ankita Katdare

    Ankita Katdare

    @abrakadabra
    Updated: Oct 27, 2024
    Views: 1.0K
    It’s just too difficult, they say. Most good engineers will be having a campus-placed job.
    These engineers are already making serious money. There are also people who are currently working at other startups.
    I can also sense that some of the great talented engineers around us often want to start their own startup, especially nowadays, when launching a product and raising capital is easier than ever before .

    In such a scenario, how do start-up owners attract good talent to their companies?
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  • ISHAN TOPRE

    Member • May 1, 2012

    Talented people according to me can come from three different sources.

    1. The owner is himself/ herself talented engineer and has skill to effectively communicate his/ her ideas to prospective employees.

    2. Show people that the idea has a lot of scope. Those who are attracted are the best people who stick to the idea until the very last.

    3. Get technical help from premier technology institutes of the country.
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  • Vignesh Raghav

    Member • May 1, 2012

    Some approach franchising to understand business models and concepts,monetaru funds for few years and they frame their own ideas for startups .
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  • ISHAN TOPRE

    Member • May 1, 2012

    #-Link-Snipped-# Are you an entrepreneur yourself? or an aspiring one?
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  • Ankita Katdare

    Administrator • May 1, 2012

    Issue
    Talented people according to me can come from three different sources.

    1. The owner is himself/ herself talented engineer and has skill to effectively communicate his/ her ideas to prospective employees.

    2. Show people that the idea has a lot of scope. Those who are attracted are the best people who stick to the idea until the very last.

    3. Get technical help from premier technology institutes of the country.
    Good points 1 & 2.
    Students from premier tech institutes would go and work for MNCs (in majority of the cases).
    Another question is how to retain them? Once you have the 'perfect team', it is difficult to make them stay with you for long. With job-hopping a common now-a-days, people keep switching for better monetary benefits or better opportunities in job profiles.
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  • ISHAN TOPRE

    Member • May 1, 2012

    Explain to them that you are a start-up. You cannot pay them as other MNCs may pay them. Be truthful while inducting them on day #1. Also explain to them that the idea has a lot of scope. If they still say yes, these are your most loyal employees. Otherwise keep searching. The process is a bit time consuming tedious but works in the long term to build a team.

    However never promise an equity.
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  • Kaustubh Katdare

    Administrator • May 1, 2012

    #-Link-Snipped-#: You make everything sound so easy and beautiful 😀

    Who told you that startups can't pay competing salary?
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  • Vignesh Raghav

    Member • May 1, 2012

    #-Link-Snipped-# , I am an aspiriing one to become an Entrepreneur
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  • ISHAN TOPRE

    Member • May 1, 2012

    The_Big_K
    #-Link-Snipped-#: You make everything sound so easy and beautiful 😀
    Everything IS easy and beautiful. 😀

    The_Big_K
    Who told you that startups can't pay competing salary?
    It actually depends on start-up if it can pay salary(& opportunity) as high as an MNC.

    In my opinion what a start-up owner should look is to provide his team "challenge" rather than "salary"....Which he/ she has in ample 😉
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  • Kaustubh Katdare

    Administrator • May 1, 2012

    I'm not sure whether people understand this; but working for a startup company and an MNC is *very* different. Talking about the challenges; a startup company may require you to have the complete ownership of the tasks; that seldom happens in bigger companies with thousands of managerial layers.
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  • Vignesh Raghav

    Member • May 1, 2012

    Yes . Startups always started with less employees and shoestring . Hence all the people who works at it bear the responsibility for their work . Companies and startups has a massive difference .
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  • Ankita Katdare

    Administrator • May 4, 2012

    Another point that crossed my mind -
    Normally the people who 'know' about startups and can feel their importance over regular MNCs are the ones who are inspired enough to start out their own venture. So, you can see typically start-up companies are filled with people who work in a startup so that they have enough time on their hands (I mean flexible timings) for planning their own startup and look at the functioning of a startup more closely.

    This means you won't be able to retain such an employee for a long time.
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  • Prasad Ajinkya

    Member • May 4, 2012

    Issue, one word - Stock options (start-ups on a very regular basis pay MORE than MNCs).

    It's not simply "challenge", but rather the fact that you get to be part of a product ... something that makes a difference than the normal 9 to 6 grind. Working in a start-up is your shot at making a difference.
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  • Kaustubh Katdare

    Administrator • May 4, 2012

    ...a shot at making a dent in the Universe, maybe 😁
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