Sponsored by TriNet
It’s a crowded field. Your competitors have deep pockets. And if you can’t compete, your company gets knocked to the sidelines. So how can fast-growing tech companies win the war for top-tier talent? For actionable recruiting strategies that help attract and retain a diverse and digitally skilled talent pool, don’t miss this VB Live event.
Register for the “startup strategies to win the talent war” webinar.
Consistently winning the talent war is a key strategy for fast-growing tech companies, but this is challenging considering 45% of HR managers reported that they’re coming up empty with their current recruiting strategies. Why? They cannot attract qualified employees — and 58% report that they have jobs that stay open for 12 weeks or longer.
Blame it on an unemployment rate that’s staying low, a lag in labor force participation, and a skills gap that just keeps growing. As new roles and skills emerge in a fast-growing tech scene — including the need for employees who are well-versed in innovative AI and machine learning solutions — the number of potentially qualified employees drops precipitously.
When you take into account that employees should fit your company culture, align with your values, and be invested in your company mission, the number of qualified candidates dwindles. As you fight for the attention of those candidates with well-known tech giants, competing for the scarce big fish in a very big sea may seem impossible.
While working for the tech giants might seem to be the goal for top talent, startups and fast-growing tech companies can offer much more. High-value employees want a lot more than a paycheck.
“It is no longer just about compensation, as employees also view time spent with family and friends — and pursuing other aspects of their life — as highly significant,” said Catherine Wragg, senior vice president of Human Resources at TriNet. “Non-traditional benefits can help employers stand out by offering uncommon perks that can be meaningful to employees, positively impact company culture, and potentially help retain top talent.”
Your efforts to offer benefits that employees value can be complicated by the fact that the kinds of benefits workers want most can vary based on many different factors including age and stage of career.
In a survey of employees at small and medium size companies, TriNet found that 91% of respondents at small and medium size businesses (SMBs) view non-traditional benefits as an important aspect of their job satisfaction. Non-traditional benefits include perks such as flexible work schedules, pet insurance, and training and mentoring.
Some employers are even offering to help repay student loans on workers’ behalf.
It can be incredibly difficult to ensure you’re attracting the attention of the kind of people you want to hire. Recruitment and hiring have become a critical business function. You need to offer the right mix of both traditional and non-traditional benefits, and invest in the crucial HR infrastructure that helps you create and maintain a top-notch talent acquisition process.
And you need to ensure that your unique value proposition is distinct and your company’s culture is integrated into every recruitment step — from info-rich career pages to robust job descriptions that convey your core values, mission, brand, and what you bring to the table as an employer.
How do you demonstrate that your company is the one they want to join? Join this VB Live event for information on making recruitment a business strategy right from the start by establishing the HR infrastructure you need, and more.
Learn how your company can stand out – Register today.
- How to manage your company’s explosive growth from the HR function outward
- Actionable recruiting strategies to effectively hire the right talent
- How to attract and retain a diverse and digitally skilled talent pool
- What premium benefits potential employees are on the lookout for right now
Joseph Furnari: Joe is CEO for HyreCar.com, a fast-growing Silicon Beach startup that allows car owners to rent their idle cars to Uber and Lyft drivers safely, securely, and reliably.
David Hughson: As VP of Sales for the technology sector at TriNet, Dave helps tech startups get the HR services they need to manage their payroll and benefits, mitigate risk, and attract and retain a high-quality workforce.