How did fast growing companies like Uber, Leon and Deliveroo manage to recruit great talent in record time, while also meeting high business demands?
Fast growth occurs when a start-up encounters a sudden rise in demand for its services. This is usually the decisive factor in the survival of a business and it is where 90% of start-ups fail because they have not managed to create a market need for themselves.
Once a company transitions from start-up to scale-up, one of its top priorities is to bring on board the right talent fast to cater to the high demand. However, 74% of scale-up CEOs rank access to talent as one of their top three issues when undergoing fast growth. With limited resources and salary competition from larger companies, scale-ups cannot afford to recruit the wrong candidates so they must come up with a more holistic approach to attracting talent.
If you find your recruitment efforts hindered by fast growth, have a look at these simple few steps you can take to make your job easier. For a more in-depth look at how to improve your strategy, come along to our free breakfast event to exchange ideas with like-minded peers.
1. Understand your ideal candidate
Start off by brainstorming the ideal candidate, their desired set of skills and values, as well as what you would like them to achieve in their first year, and put it all down on paper. This will help provide your recruitment team with a clear idea of who you’re looking to bring in.
2. Target your interviews
Devise an interview plan which will address all the key skills you’re looking to find in your candidates. Ask them behavioural questions to understand their approach to work, but also try to meet the person behind the CV by asking them about their interests outside work. The latter will help determine if they’re a cultural fit to your organisation
3. Invest in a modern ATS
A centralised platform where your entire team can keep track of all candidates will save you a lot of time and energy when selecting the best
4. Go beyond borders
Don’t limit yourself locally. You can find many candidates who’d love to work for you remotely and with tools like Skype and Slack, virtual workforces are becoming more commonplace.
5. Market yourself on social media
Create yourself an attractive employer image on social media by posting snaps from the office or from various team activities, and encourage your employees to do the same. This way you will reach out to a big pool of passive candidates who will find you a very exciting place to work.
6. Engage with your employees
Be open about your recent wins and the direction you’re going and make sure they are happy with their workplace. Ultimately, the best candidates with the highest retention are the ones brought in through referrals.
We will be exploring fast-growth recruitment, along with its challenges and opportunities, at our next breakfast event on 19 October. Come along to hear how Perkbox, the UK’s third fastest growing start-up this year, scaled up without compromising employee quality.