MBA1629 How to Attract Great Talent When You’re Just Getting Started

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How do you attract them and make sure it's a good choice for them? It's a good value. They can work anywhere. Why with you? Well, in today's episode I'll explain the five top reasons why why great talent would want to work for a small new business? What are some things you need to flex that you need to impress upon your new teammate, your future teammate that you're recruiting? We'll discuss what these five things are and how you can offer them even if you're just new. New to the market, new to the business, even if you're making your first hire. So let's get into it. Let's get down to business. We all know that a great team makes a great product. But how do you lure great talent to join you when you're just getting started? Well, that's what we're going to get into in today's episode. Five solid ways. Five things that you can offer that many companies can't. Especially larger companies, well established companies. So let's get into it. The first one is autonomy. And this one is huge because many talented people that have maybe worked at Many places and have a wealth of experience, have been micromanaged for a very long time, would love to have a bit of autonomy, a little room to grow, a little room to do their thing, make their own decisions and feel like they're part of something that respects them. And that's what autonomy does, giving people full ownership over the responsibilities. I remember even one of my first jobs as an educator in my early 20s offered this, offered autonomy. I got to make the decisions I wanted to make, how to manage my team. I even was given a budget that I can use at my discretion. And you can offer this to your new hire. Show them that you're a growing company and that, hey, we don't have time to micromanage. We need you to take care of business. Are you ready for the challenge? The second thing you really can impress upon your new candidate is the actual work. People forget that people choose to work somewhere because of the actual work. What they're going to do day in and day out. What are some of the things they're going to get to get their hands on? What are some things they're going to get to work on, to develop, to grow, to create? That's exciting. Let's say you're hiring a graphic designer and they just came from a world where they have to just day in and day out create designs for Facebook ads. That's all they do day in and day out. They don't do anything exciting. They're not building something that is going to have a life on its own. Here comes your business where it says, hey, we're building a small software. We'd love for you to design the UI and make decisions on the product and how it's going to work and how it's going to solve problems for customers. That's attractive work. Number three, the vision. The vision of the company is huge. And it's your job as a leader to sell it to show people what you see in the future of the business. People are signing up not just for today, but for the long run. Describe what they're signing up for, not just for right now, but in the next year. 2, 3, 10. This is where you can get them excited about the opportunity to work for you. The sky's the limit. Number four is an interesting one and many people don't even consider this. But it is important, and that's the title if you're looking for great talent. Many people go to small companies for a good title, for a strong title. It's a stepping stone in their career. They'll put in a good 2, 3, 4 years with great experience, with a great title and be able to take that as a launching pad into a bigger position. Say, for example, you're hiring a engineer, a developer, and they're just a developer in their old company, but you can offer them a bigger title like senior developer or team leader. Hey, you're just getting started. You need some management. And you can have a little bit of flexibility with titles. They don't cost you much and for them it's super valuable because, hey, that's their work and title. They can put it on their LinkedIn for X amount of years and when they move on, they can jump into a new job. And I did this in my own career in education. I was super attracted to the title when I was younger and it allowed me to get a really amazing job as the chair of my department in the next step in my career. Number five is work life culture. One of the things, as a small, nimble company you can offer is a job where they don't have to sacrifice their life. They can work from home, they can have flexible hours, they can have flexible days off. Maybe your job is going to allow them to be that stay at home dad they wanted to be, or give them the opportunity to attend the children's events or spend more time on their health and fitness. This doesn't mean they're not working. It just means that you are allowing them to have a little bit more flexibility of when they work and get the work done. This can make all the difference. And I know this is a huge, huge perk for our company, for our team members. They love it. And it's really hard to not have that to move on from that. And this really allows you to have a bit of retention with your workforce. Hey, Fidelity, how can I remember to invest every month?

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To wrap up today's lesson. Money is not the only only reason why people will join your company, especially when it comes to any job that's, you know, above 35 to $40,000 a year. Once people's basic needs are met, the room for difference in terms of salary in any position even is not that much. So it's all about what they're going to experience in the job. This is a place that gets them excited, that makes them want to go to work too every day. And a part of your job as the founder is to sell those things to sell them on the job. And the five things I mentioned today can help you do that. Thank you so much for listening to the $100 MBA show. Don't forget to follow us on Instagram if you want exclusive content, special clips for our Instagram followers and updates. So go ahead on instagram.com the100mba Before I go, I want to leave you with this. Once you start hiring a few talented people, they're going to want to recruit people just like them. They're going to help you find new people. So just get the ball rolling and it'll get easier over time. Thank you so much for listening and I'll check you in tomorrow's episode Q and A Wednesday. I'll see you then. Take care. Of hey Fidelity Can I get a second opinion on stocks in the Fidelity app?

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