Ready, Set, StartUp!- Understanding The Best Recruitment Sources For Your Startup
Recruiting talent to your startup is a never-ending process. As your enterprise grows, you need to find more employees, and knowing which Recruitment Sources to consider is half the battle won.
Your job description should be precise and self-explanatory to attract suitable candidates, and you should also look at the right places for the people who are a perfect match for your startup.
In this blog, we’ll explore just that.
Should You Hire Internally Or Externally?
Once you have a new position open or if you are planning to expand your enterprise, the first thing you can do is to look within your firm. Consider if you can select an existing employee for the new position in your startup. Are there employees who have a growth opportunity?
There are many benefits of recruiting from within our firm:
- Employee retention: Retaining talent in your startup can be a challenge. This is one of the crucial ways you can motivate your employees and make them commit to your vision. Promotions and upgrades are the best incentives you can give your existing employees. It also provides exciting new opportunities for them.
- Reduces the knowledge gap: The employee selected for the new job will be available and open to training the new one at their old job.
- Effective knowledge management: By retaining existing employees, you can maximize the knowledge and skills you have invested in. Similarly, you will not lose the corporate knowledge the employees have acquired by working in a field for extended periods.
External Candidates For Recruitment
If you consider recruiting from outside the firm, it is pivotal to know the right places to look for talent. For a startup, each individual has a significant role in the firm’s growth. So, you have to approach the talent marketplace through the proper channels.
What Are The Best Recruitment Sources For Your Startup?
Without further ado, let’s look at the best (and the most popular) sources for recruitment to advertise the new position.
Besides candidature for the new position, your current employees are also your best recruitment source for fresh talent. According to the 2015 ERC Hiring Trends and Practices Survey, 81% of employers have used employee referrals for the hiring process in their companies.
The reasons are pretty straightforward. First, your current employees have a vested interest in recruiting talented, open-minded, and cooperative people to work with them. It makes the workplace more vibrant and friendly for them. Your employees may also know others who work in similar fields who are in between jobs or looking for better opportunities, and you can leverage that information quickly. Finally, your existing employees are well aware of your startup’s values and vision, so they will not suggest people who are incompatible with your enterprise, mainly because their reputation is on the line.
When using employee referrals, the important thing to keep in mind is to communicate with them. Let them know you’re open to getting referrals from them. You can also incentivize referrals for better responses.
Networks And Connections
It goes without saying that as a business owner, you have to be actively engaged in networking. For technical, business, or scientific roles where you require highly-skilled personnel, or if you are recruiting for key positions in your business, you may have to depend on your professional and personal networks. Attending social events and business meets is crucial to connect with skilled talent and executives, among other things.
Here also, proper communication is critical. Be clear on your needs and requirements to attract the right people to your startup.
The Internet And Social Media
This is the top source for recruitment for your startup. Any startup relies on the internet and social media for most of its requirements and goals. For the same reason, having a significant online presence is essential for the success of your startup.
Recruiting new talent through online mode is an extensive area. There are different platforms you can rely on. Which are they?
Online job sites: General online job boards and websites account for 89% of recruitment sources used by employers. Many jobs posting sites or groups will list your job openings, either for free or for a small fee. We’ll go into the details in a separate section below.
Social Media: LinkedIn is the top social media site for recruiting new employees. There are over 706 million users on Linkedin, which is the largest social media business networking site. More than 90% of recruiters search for candidates on Linked in to fill company job openings.
Social media also becomes essential as it shares information about your company with interested candidates. Moreover, these platforms will provide you with information about the potential candidates before starting the interview process. In fact, a 2020 survey of 1005 hiring decision-makers done by the Harris poll found that 67% of employers use social media sites to research potential job candidates.
Your corporate website: Your website is another excellent place to advertise your new job opening. This is a passive source but can be a channel to direct those interested in this platform. The plus side is that your website reflects your ideals and visions, and you can quickly inform the candidate about them by using the website. In addition, you don’t have to explain the ideals, vision, history, etc., of your company to your candidates as they can be found on your website itself.
Job Boards (Online Recruitment Sources)
It is, hands down, the most important place available for you to connect with the talent marketplace professionally. You need to follow quality over quantity while using job boards. There are a lot of free online job sites, but you have to see if they are right for you before posting everywhere.
You should only post advertisements on job boards according to where you are, who you are seeking, and the demographics of your target audience.
There are general job sites and others that are niche. Proper research is needed to identify them and post them accordingly. Posting on job boards without adequate research will undermine your chances of finding the right candidate, and it will cost you in hours and the energy you put into the recruitment process.
Top job boards in India:
- Indeed: It is the top job portal in India, with over 250M unique visitors every month. Putting up a job post on the platform with a detailed job description and your company will attract many candidates for your new position.
- Shine.com: Established in 2008, it also caters to the country’s employment needs. They have put up their platform after doing exhaustive research about the market. The portal now offers more than 3 lakh+ jobs to its large pool of over 4.1 crores registered jobseekers and 8,000+ employers.
- Monster: This site is well-known worldwide as a leading job portal. It is helping people find jobs in 40 countries now and started its services in India in 2001. It encompassed a wide range of employers and job seekers, with 200 million people registered on the Monster Worldwide network.
- Naukri.com: Another well-known job site in India has offices in more than 40 cities. It has more than 4 lakh jobs live in the portal with 20,000+ employers.
There are many other portals like this in India. You can choose the right one after researching them.
Some Other Recruitment Sources For You To Consider
Here are some more sources for recruiting new people to your startup. They are not as widely used as those mentioned above, but they could still be relevant for your business or the market.
Co-op programs and new graduates
University graduates and students from vocational training schools and colleges are also good candidates for your business. This is because they are an affordable source for recruitment, and you can find long-term employees for your business by this means. 58% of employers have used colleges and university websites as a source for recruitment, according to the 2015 ERC Hiring Trends and Practices Survey.
Similarly, Internship or volunteer programs also have a good source of enthusiastic job seekers interested in working in startups.
A traditional way of finding job seekers is still relevant when recruiting local talents, heavy industry workers, and mechanical and service employees. If your startup integrates local products and marketing, newspapers are an important source for recruitment.
Headhunters and recruiters
There are recruitment firms and headhunters that will aid you in finding new talent by using their existing database and expertise in the market. Of course, you’ll need to pay for their services, but the right recruitment agency can make the tedious work of traversing the market easier for you. But, the downside is that you will have to research which agencies are good for you.
Human resource (HR) services are also a paid option for recruiting talent. They will cover recruitment strategies and other HR-related services for a fee.
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Your employees and your workplace are the most critical assets of your enterprise. Having the right talent will make the difference between your failure and success as a business. It won’t be too presumptuous to say that you are only as good as your team!
Doing the right amount of research and choosing multiple platforms or sources for advertising your new job position will go a long way while strategizing your recruitment process. But for all this, you need the proper guidance and expertise in starting a start-up. Let us at Voila Experts help you with this. We have the best resources and can connect you to the leading experts and consultants in the industry.