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How can SMEs and
startups compete with
tech giants for talent?
HOW DO YOU ATTRACT AND RETAIN THE
RIGHT TALENT?
For startups and SMEs, recruiting the right people is crucial yet
challenging. It’s not enough to attract and hire top talent, retaining
them is also essential.
COMPETITION WITH THE TECH GIANTS
The tech titans like Google and Facebook play it hard while acquiring top
talent. The tech giants not only offer money, they offer a compelling
Employee Value Proposition. The EVP includes various perks like insurances,
vacations, benefits, and mentorship.
Startups can never compete with that.
As of 2019, there are at least 30.7 million small businesses in the United
States. Over 1700 startups registered in 2019.
The numbers have two things to say.
One, the competition for the right talent. All these companies are trying to
attract talent and thus increasing the competition.
Two, the indirect effect of the spike in the number of start-ups is the
reduction of the talent pool.
CHALLENGES THAT STARTUPS AND SMES FACE?
Our own experience assessing, hiring or managing over 100k techies
gave us some valuable insights
Challenge #1: Lack of experience in hiring
Startups neither have the specific expertise to attract great talent, nor can
they dedicate time to manage or retain the talent. This makes talent
acquisition harder than it is.
Solution: Leave it to the experts
What if you could delegate your tech hiring?
You can find and hire top talent without talent acquisition teams. There are
several companies that help with tech recruitment. Some specialize in hiring
for growing startups too – companies like Crewscale can connect you with
top talent across the globe.
Challenge #2: Lack of competitive pay
When the demand for tech talent is high and the supply is less, the
candidates have greater bargaining power. This is a pain-point for startups –
especially if they haven’t been funded yet.
Solution: Offer incentives and perks
Startups can offer its unique perks too.
You can offer your talent to vest with you in the forms of stocks.
The perks could be non-monetary as well: opportunity to work on
impactful projects, flexible working hours, remote work is a great way to
attract talent too.
Challenge #3: Lack of recruitment methodologies
The tech giants well-defined recruitment processes and a multitude of tools
at their disposal for interviews, coding assignments, and assessments.
Startups don’t have any of these luxuries.
Testing candidates itself is such an overwhelming
challenge that you’d rather stick with the smaller
but testified talent pool among your network and
referrals.
Solution: Remote assessment tools
There are several tools available for tech screening assessment, and paired-
coding. Without burning a hole in your budget, you will be able to conduct
a highly effective, transparent, and systematic hiring process.
Challenge #4: Lack of brand value
Brand alone can line up talent
Every company that isn’t a brand has to face
this challenge. You need great employees to
become a great brand, but the candidates
prefer joining only an established brand. It’s a
chicken or egg problem.
Solution: Offer a Great Employee Value Proposition
Your key to compensate for the lack of a brand name is your EVP.
EVP is a term used for all the compensation (monetary or
otherwise) that a company offers to a prospective
employee. Tour EVP statement so you can communicate it
to your future employees.
Challenge #5: Employee Retention
Acquiring talent is not sufficient. Retaining employees is more crucial than
actually hiring them.
Studies show that 23% of new hires quit their job before
their first work anniversary.
There are several reasons that lead to early employee
turnover. The pressure and high expectations in the
startup environment one of them.
Solution: Great onboarding, assistance, great culture
Startups can define and shape their own culture, that’s an incredible
advantage! Preparing an excellent employee onboarding strategy is a first
step towards. In addition to onboarding, you need to offer challenging
projects that will help the career growth of employees.
While startups and SMEs face various challenges to hire tech talent,
they are not without solutions. The unique nature of a startup itself
can be effectively used for attracting top talent.
Run your startup to your advantage and you can undoubtedly
outrun the tech titans in the race for acquiring the right talent!

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How can SMEs and startups compete with tech giants for talent?

  • 1. How can SMEs and startups compete with tech giants for talent?
  • 2. HOW DO YOU ATTRACT AND RETAIN THE RIGHT TALENT? For startups and SMEs, recruiting the right people is crucial yet challenging. It’s not enough to attract and hire top talent, retaining them is also essential.
  • 3. COMPETITION WITH THE TECH GIANTS The tech titans like Google and Facebook play it hard while acquiring top talent. The tech giants not only offer money, they offer a compelling Employee Value Proposition. The EVP includes various perks like insurances, vacations, benefits, and mentorship. Startups can never compete with that.
  • 4. As of 2019, there are at least 30.7 million small businesses in the United States. Over 1700 startups registered in 2019. The numbers have two things to say. One, the competition for the right talent. All these companies are trying to attract talent and thus increasing the competition. Two, the indirect effect of the spike in the number of start-ups is the reduction of the talent pool.
  • 5. CHALLENGES THAT STARTUPS AND SMES FACE? Our own experience assessing, hiring or managing over 100k techies gave us some valuable insights
  • 6. Challenge #1: Lack of experience in hiring Startups neither have the specific expertise to attract great talent, nor can they dedicate time to manage or retain the talent. This makes talent acquisition harder than it is.
  • 7. Solution: Leave it to the experts What if you could delegate your tech hiring? You can find and hire top talent without talent acquisition teams. There are several companies that help with tech recruitment. Some specialize in hiring for growing startups too – companies like Crewscale can connect you with top talent across the globe.
  • 8. Challenge #2: Lack of competitive pay When the demand for tech talent is high and the supply is less, the candidates have greater bargaining power. This is a pain-point for startups – especially if they haven’t been funded yet.
  • 9. Solution: Offer incentives and perks Startups can offer its unique perks too. You can offer your talent to vest with you in the forms of stocks. The perks could be non-monetary as well: opportunity to work on impactful projects, flexible working hours, remote work is a great way to attract talent too.
  • 10. Challenge #3: Lack of recruitment methodologies The tech giants well-defined recruitment processes and a multitude of tools at their disposal for interviews, coding assignments, and assessments. Startups don’t have any of these luxuries. Testing candidates itself is such an overwhelming challenge that you’d rather stick with the smaller but testified talent pool among your network and referrals.
  • 11. Solution: Remote assessment tools There are several tools available for tech screening assessment, and paired- coding. Without burning a hole in your budget, you will be able to conduct a highly effective, transparent, and systematic hiring process.
  • 12. Challenge #4: Lack of brand value Brand alone can line up talent Every company that isn’t a brand has to face this challenge. You need great employees to become a great brand, but the candidates prefer joining only an established brand. It’s a chicken or egg problem.
  • 13. Solution: Offer a Great Employee Value Proposition Your key to compensate for the lack of a brand name is your EVP. EVP is a term used for all the compensation (monetary or otherwise) that a company offers to a prospective employee. Tour EVP statement so you can communicate it to your future employees.
  • 14. Challenge #5: Employee Retention Acquiring talent is not sufficient. Retaining employees is more crucial than actually hiring them. Studies show that 23% of new hires quit their job before their first work anniversary. There are several reasons that lead to early employee turnover. The pressure and high expectations in the startup environment one of them.
  • 15. Solution: Great onboarding, assistance, great culture Startups can define and shape their own culture, that’s an incredible advantage! Preparing an excellent employee onboarding strategy is a first step towards. In addition to onboarding, you need to offer challenging projects that will help the career growth of employees.
  • 16. While startups and SMEs face various challenges to hire tech talent, they are not without solutions. The unique nature of a startup itself can be effectively used for attracting top talent. Run your startup to your advantage and you can undoubtedly outrun the tech titans in the race for acquiring the right talent!