How can startups win over top talent?
With startups like yours, it’s all about forward momentum and fast growth.
After securing funding, one of the biggest things that could slow you down is finding top talent. Especially those with the niche skills and experience to help your business take the next step.
Most times, the hardest part is name recognition. While you may have amazing tech or a unique opportunity, talent can be wary of working with a yet-to-be-proven company. Plus - you’re competing against companies whose names are now verbs, with deeper pockets and stock options.
So, how can you differentiate your company in a crowded, noisy market and win over key talent? We’ll explore how startups like yours can start bridging the talent gap today.
Explore borderless hiring
In a world where several of the world’s largest companies - cough, cough, Amazon - are mandating a full-time return to the office, allowing for remote work can be one of the best ways to entice talent.
But we’re not simply talking about “work-from-home,” either. Rather, your business should open itself up to borderless hiring. This is where you bring on remote employees who may work in different locations or even countries, like the tech talent hub north of the border.
With borderless hiring, you can expand your potential talent pool, because now you’re not limited to who’s available in your immediate, surrounding geography. This is especially helpful if you are looking for niche or hard-to-find skill sets.
Measuring up on the salary front
Now we come to the money question: How can a smaller startup like yours match salaries with larger or big-name businesses? On paper, the numbers might not match, but there are other very tangible benefits you can offer.
First - by offering the ability to work remotely, you’re saving that employee the expense and stress of needing to relocate closer to a physical office.
Another big perk you offer is workplace flexibility. Many of today’s top talent don't want to be locked into a rigid in-office schedule. According to a recent Telus Health survey, 7 in 10 Canadian workers say flexibility is key to job satisfaction.
If you offer the chance for employees to strike their ideal work-life balance, while working wherever they please, that could seal the deal even if your number is lower.
Here’s a fun fact on the salary front: Hiring a remote Canadian employee can be up to 25 - 30% cheaper, with the current US and Canada exchange rate.
Provide the same, rich employee experience for remote talent
Hiring remote employees can be a great way to quickly scale up teams, but getting them on board is just the first step. You need to make all talent, wherever they live, feel like an integral part of the team. And provide the perks and benefits that come with being a full-fledged employee, rather than being hired as an independent contractor.
So, how do you go about providing a seamless experience for your remote, cross-border workforce? By partnering with an employer of record (EOR).
Let’s say you have remote talent located in Canada. What a Canadian EOR does is allow you to quickly hire a Canadian employee, without needing to become an instant expert in Canadian payroll, tax, or employment and safety regulations.
EORs function as the legal employer to your remote workforce. While you provide day-to-day direction, resources, and manage their actual work, the EOR handles everything else from an admin and compliance standpoint - including back-end tasks like onboarding and payroll processing.
Another important thing EORs can do is help you source and administer employee health and retirement benefits packages that talent expects.
Gain serious agility and the ability to grow quickly
With an EOR, your startup can increase agility, pivot in new directions as needed and grow quickly by recruiting and onboarding new talent within a matter of days.
Bridgewater TI: Your bridge to top talent
Like we said at the beginning of this post - startups need to sustain their growth and forward momentum.
So, why not start with an employer of record partner who can help you seamlessly integrate top Canadian talent into your team.
Talk to us today!
