Communications of the ACM
How to Retain Your Startup Workforce
Credit: Portacomp
In order to retain top hired talent, startups need to provide a unique and exciting atmosphere. By choosing not to work for an established company, startup workers have shown they want the chance to be a part of a team that shapes the company through every part of its development and launch. As part of creating this entrepreneurial spirit, startups need to provide employees a chance to dive into areas that aren't necessarily part of their job description. Startup employees have to be flexible and knowledgeable in several different industries, and possess a variety of skills, while the employer must work even harder to hire and train the right employees. The article provides insights on how entrepreneurs can keep their new employees from moving to competitors and larger corporations.
Retaining your workforce starts with proper orientation and education. While many startups hire people who know the job, you still need to help new employees understand your vision, values, direction, gaps and product. As with a new company or product, there is a greater need for employee education and that can only come at the beginning of the job. To understand how they can make good decisions on the job, startup employees need an orientation of what every team is trying to accomplish. The second key is recognizing workers for a job well done. Encourage employees to set personal goals. Start with lightweight goals with no firm end dates. Once these goals are set, an employer can monitor and recognize an outstanding job on an as-needed basis.
In addition to recognizing achievements of candidates, offering more feedback for employees in startups is helpful. Startup workers tend to have higher responsibilities. They are expected to be self-starters, so helping them improve and learn from mistakes is important. This can only be done when sufficient feedback is given on projects. Ignore performance reviews until you have hundreds of employees. They have limited value in your startup culture, and can't keep up with the pace of the work that is going on. Instead, feedback can consist of a quick email or chat on a project-by-project basis. Provide employees with the resources to better their professional reputation by endorsing additional reading, joining relevant groups and participating in forums to keep them informed. Encouraging (or paying for) relevant seminars and networking events can help guide employees to professional success. Local industry and professional groups, along with startup-specific groups, are a great way to learn about industry trends and success stories.
From Mashable
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