What are the best ways to keep top talent in a startup?

En el ecosistema competitivo actual, las startups compiten no solo con productos innovadores, sino también por el talento excepcional. Ofrecer equidad en forma de participación en la empresa y esquemas de incentivos no solo recompensa el duro trabajo y la dedicación, sino que también establece un vínculo directo entre el crecimiento personal de los empleados y el éxito de la empresa. La transparencia es fundamental en este proceso. Comunicar claramente cómo se valora la equidad, cómo se distribuye y qué implicaciones tiene es crucial para mantener la confianza y la motivación de los empleados. Además, la equidad no solo debe ser justa, sino también accesible y comprensible para todos los miembros del equipo.

Disagree. Do you want a band o mercenary’s or dedicated disciples? Find people committed to the vision and purpose. If your purpose is weak or simply “make a big profit”. You will los talent

I agree on those points, I might add, based on my personal experience: 1) The best employees often thrive in an environment that allows them to contribute their ideas and take ownership of projects. Providing them with the freedom to experiment with new solutions and supporting their initiatives can be highly motivating. 2)Cultivating a workplace culture centered around openness and collaboration can significantly boost motivation and teamwork. When colleagues feel connected and work together toward a shared mission for the company's success, it creates a positive and motivating environment.

It is paramount to offer a fulfilling job environment, but employees' incentives need to be aligned with the strategy to ensure success. We used the following compensation successfully: (+) a market-competitive base pay (+) a bonus based on achieving company-relevant milestones in a predefined time frame; (can be individual or team contribution). (+) Share-linke incentives (ESOP, VSOP; make sure to explain what they are because many don't understand them) (+) Perks: pay for gym membership, food vouchers, language courses or drivers-license Not successful: (-) Bonuses tied to achieving individual goals that are not fully linked to the milestones in the company's development or purely qualitative (-) Not clearly defined bonus terms

People gravitate to a startup because they want to do something special. Whether it’s the challenge, developing a new technology or impacting lives, that’s what some people want to do. Compensation is the reward for extraordinary achievement. Given the high risk and low probability of success, it’s the vision and drive of leaders that makes the difference. It then follows that people primarily motivated by Equity and Incentives are also the most likely to bail when the going gets tough as it inevitably will.

Just hire hitters (hitter want to work with other hitters), give them interesting/challenging work to do, give them sufficient compensation to make it worth thier time. If you actually do all of those things and they still leave, they either weren't hitters or you don't actually want them on your team.

Provide real growth & learning opportunities: - show them examples of how you promoted people in-house instead of recruiting new people - give them a budget for training, no question asked, and a time-slot per week or a free day per month to be able to learn and do their trainings. - start an academy in-house: have weekly presentations by the employees to share their knowledge with others

If you're aiming to become a unicorn startup, what would it be in it for an average person working there? Why would they take this bet with you? Give them an incentive for how they'll grow. Show them case studies.

Obviously, talent is captured or built on a day-to-day basis, which is why talent growth becomes so important. On the one hand the "theoretical" training and on the other hand the "practical" that is learned by working with "the best" with a vision of lean and dynamic learning but at the same time oriented to the needs of the company and the interests of the people.

the most successful hires i’ve witnessed while at a small engineering services company were people that were hungry. They exhibit “range” with lateral thinking and cross discipline ideas. Look for candidates that have a history of tinkering and a willingness to develop a new system or change a light bulb, whatever is needed to contribute to company success.

agree, true, Some Top Talent continue on vision but also leadership (Boss), company culture and vision is more important on retain, definitely, their future should visible for them, involve, informed and appreciation mandatory

Culture is that which is "unseen" but which really moves the company. No matter the size or age... there is always a company culture. it can be actively worked on by defining not only the mission (I prefer PURPOSE) and vision (how to achieve it) but also working on the REAL VALUES so that it is not a list on a wall ;)

Agree to a point. Keep it democratic and remember the founders are usually the only ones with their own capital at risk. Not every feeling or view will be in 100% aligned either your purpose

Establishing a robust culture and compelling vision is pivotal in retaining top talent at a startup. Define core values that guide decisions and behaviors, fostering a cohesive and purpose-driven environment. Communicate a clear vision, outlining the company's goals and aspirations. Encourage open dialogue, inclusivity, and transparency to ensure alignment between employees and the company's mission. Cultivate a culture that celebrates diversity, innovation, and collaboration, empowering individuals to contribute meaningfully. A compelling culture and vision not only attract top talent but also inspire them to stay, feeling connected to a greater purpose within the organization.

In the pursuit of talent, startups can follow the strategic framework proposed by Haas & Mortensen (2016) which I personally find very helpful: Compelling Vision: Create a clear, emotive startup vision. Flexible Structure: Establish a collaborative, empowering organizational setup. Strategic Support: Invest wisely in tools, training, and an inclusive culture. Unified Culture: Foster a shared mindset with common values and goals. These steps, inspired by Haas & Mortensen's research, not only attract but ensure enduring success in the dynamic startup landscape.

I have lived this experience in my first startup with more than 80 people without the possibility of increasing salaries or giving greater economic advantages. BUT with work-life balance programs you can generate a MUTUAL COMMITMENT that allows people to know that they can meet their personal needs while the company has people committed to its values and objectives. 100% recommendable and not all measures involve costs!

EMPLOYERS IN 2024 SHOULD BE COMFORTABLE WITH DRAFTING MOONLIGHTING POLICIES. Moonlighting is the act of working at an extra job, especially without telling your main employer. This concept is gaining popularity in the tech ecosystem; no thanks to remote work. "There's been a 25% to 30% increase in moonlighting activities over the past three years in the country's tech sector", said Randstad India. These statistics are one of the reasons most Indian tech professionals (despite their bosses' disapproval) still embrace moonlighting as Abhishek a professional software engineer in an interview with CNBC says: "The root cause is the money, software developers are not paid proportionate to the amount of work that they are doing..."

I am all for remote work and flexibility. The ability to hire a self motivated individual who cares about more than a paycheck is looking for flexibility. I think there should be options unless it’s a manufacturing type business or in some cases product based business. Also ok to have in person collaboration once in a while too. It’s win-win for the employees well-being and likelihood they will be with you long term.

As burnout is one of the largest reasons people quit, suffer mental illness and go entrepreneur/ freelance.. I'd argue a culture that promotes healthy work life balance is incredible important

Providing flexibility and promoting work-life balance is crucial for retaining top talent in a startup. Offer flexible work hours or remote work options, enabling employees to manage personal commitments while fulfilling work responsibilities. Encourage a results-oriented approach rather than rigid schedules, fostering trust and autonomy. Set clear boundaries to prevent overwork, promoting a healthy work-life balance. Prioritize mental health by encouraging breaks, vacations, and creating a supportive, stress-free work environment. By valuing their well-being and offering flexibility, you create an environment where employees feel supported and appreciated, enhancing their commitment and loyalty to the company.

6. In order to retain and build a strong core team, it's important to get people's buy in into the vision mission of the company. Make everyone feel that they are part of the decision making process in building the organisation. Everyone wants do display his or her leadership skills! Encouraging and giving right credit to the core members is the key to build a successful team. Everything becomes secondary, whether it is salary, perks or any promotion.

Yes but be careful not to alienate the solid “b” players. Often they are the rocks of the organization. Like great linemen are they key to great Quarterbacks and ball handlers

In his book Drive, Daniel Pink talks about intrinsic and extrinsic motivators. It turns out that, in general, once people are paid to a level that they need to be comfortable, additional money will seldom equate to proportionate additional effort. As the saying goes, "a person who feels appreciated, will always do more than expected".

Don’t wait to give raises until the employees ask for them. If you see top talent and you know they are worth keeping around, do what you need to. If they have to put together a presentation on why they deserve a raise, you’ve already lost them at some point in the future.

Monetary incentives are important, but most ambitious people yearn for appreciation) even if they say they don’t) Our belief is: (-) They hate random & generic praise. (+) They fuel on feedback from knowledgeable people (who understand the problem) To address this, we designed CODECAMP: - 4x a year // 3 days each // one big room - Management presentations are max. 3 hours total & only allowed to explain WHAT needs to be done. The rest of the time is only developers presenting to the team HOW it is being done - Giving all developers the chance to present their work to their peers gives a huge boost in ego, generates real praise, and triggers actionable feedback - It also triggers the ambition to develop something stellar for next CODECAMP

Here are 7 ways to keep top talent: 1. Pay them well 2. Make compensation simple 3. Support their growth internally & externally. 4. Shine a light on them when they succeed. 5. Handle negative challenges privately. 6. Create a culture of transparency. 7. Put them in situations for growth. Keeping good people isn't difficult. It just requires a commitment to a culture where "great" is the standard and wants to stick around.

People stay with companies that make them feel valued. You can do that several ways: 1. Invest in them 2. Promote internally 3. Praise in public 4. Listen to them and make them feel heard. Employee retention is more than just throwing money at your people.

Top Talent and High Performers are self-starting, self-motivated, creative problem solvers who are driven to achieve. These 3 simple but often forgotten concepts are key to keeping them; Respect, Opportunity, and Autonomy. Respect - Be Transparent and consistent in communication - Prioritize and protect 1:1 time - Compensate well and provide ways to earn upside - Actively listen Opportunity: - Recognize unique strengths - Provide opportunities for growth and collaboration Autonomy: - Provide clear objectives and guidance but be flexible on how the work gets done

I’ve learned that instilling a sense of belonging is key to retaining talent. Yes, you create a sense of belonging by fostering an inclusive culture. But we also need to gain buy-in on a clearly-defined mission, vision, description of what success looks like, and the path for how we’ll get there. Generate energy, inspire optimism, and provide transparency on the above with your people every day. Help people understand the key role they play in the organization’s success and how they contribute to accomplishing your mission. Ideally, you (and your leadership team) will come to understand each employees personal mission, values, and goals, which will enable you to align personal goals with the organization’s goals.

Talent stays when companies offer: 1. Pat on the back of team on every small achievements. 2. Open to experimentation leadership 3. Challenging work which has learning curve 4. Ownership and respect of decision making 5. Be the stress buster of your team 6. Industry standard compensation 7. Incentives 8. Equity 9. Show them there own future in org 10. At least try to Promote work life balance