Thursday, 22 September 2016

How to deal with employees backing out in SMEs and Startups?

Keeping candidates interested for SMEs and Startups might be a bigger challenge given how speculative people are about job security. Here’s a couple of tips that can help you hang on to a quality candidate as an SME or a startup.

1) Sell the vision
Candidates must buy into the vision of the company and it’s up to you to help them do so when you communicate with them. Speak about the goals and future plans of the company and what part you expect the candidate to play in it. Ensure that the candidate’s goals are aligned with the company’s goals. If the candidate is excited about his/her role in shaping the vision of the company, you’ll rarely find him/her backing out.

2) Hire potential over polished talent
The best talent in the job market are also sought by large companies who can offer a lot more in terms of job security, employer brand and salaries. Unless, you’re willing to remunerate employees with more than competitive salaries, it’s best to hire potential over polished talent.
You can look at hiring based on who you expect the employee to become 3 months or a year down the line. If a candidate has all the necessary skills required to be the perfect employee for his/her position a couple of months later, it’s not a bad choice to welcome them on board.

3) Not everyone wants to work in large corporates
While majority of candidates that you’ll come across will want to work in a low pressure, stable corporate job, there are a handful of employees there who love the idea of a Startup or SME. These employees prefer to work in an environment where they can be a part of a growth story. Seeking these employees will leave you with a lesser chance of a lost hire.

4) Notice period buyouts and negotiations
If you can afford to buy out a candidates notice period, it’s not a bad option since it will compel them to join your company. This would immediately reduce the chances of them backing out. If a buyout isn’t possible, you can always help the candidate negotiate with his/her current employer to shorten the notice period. Reducing the amount of time taken by an employee to join you post an interview, will help you avoid drop off rates.

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