The best business founders are driven by a vision of building a company that will change the world. Investors understand this, and they're ready to invest their time, energy, and money if they believe in you and your team.
But there's a catch: most investors don't have an infinite pool of cash, so they must be selective about which companies they back. This is where your talent strategy comes in.
How you attract the best team members will be critical to investors' decision to choose your company over another that might have a more impressive product or market potential. So, if you want VC's to invest in your brand, focus on attracting great people who are not only outstanding at their jobs but also share your company's vision for changing the world. While the product may “sell itself” on some level, success is created and destroyed by the people who are responsible for bringing that product to market.
So how does your company ensure you’re bringing in the right talent that will be beneficial to your company and decisive when it comes to investment?
Below are four key tips to attract, retain, and engage top talent when seeking Series A & B funding. The following tips are several aspects of a comprehensive talent strategy that demonstrates solid leadership and a solid team.
Of course, pay is still the biggest factor, but these following aspects play a supporting role:
Define Your Values: Every founder sets out to build a company that will change the world, but not every founder defines what that means in terms of how the company operates day-to-day. Understanding and communicating your values ensures the right people are signing up for the right job. We’ve noticed our clients have a better relationship with their talent when they are as specific as possible. For example, do you value a decentralized management structure that encourages autonomy? Or do you value close supervision? By developing your values, you can reduce turnover and avoid employees that do not fit with your existing team.
Craft an Employee Value Proposition: As important as company values is crafting an Employee Value Proposition. By nailing down the exact perimeters needed for your workforce and fitting your workplace culture, you can get your company off to a great start.
Prioritize Flexibility: Next, you need to organize a clear policy for flexible and hybrid work. Our world has adapted to remote work, and we believe every company should also. The truth is, great talent expects great flexibility. This streamlines our entire hiring process and makes it painless for everyone involved. We’ve found that companies that prioritize flexibility tend to reduce the turnover rate of top employees. Furthermore, companies that blend both permanent and contract workers in their talent strategy automatically widen the pool of potential top talent.
Create an Innovative and Growth-Oriented Environment:Talented Tech employees often seek new employment based on limited collaboration and innovation opportunities. We recommend striking a strategic balance between avoiding a hyper-demanding environment that results in burnout and challenging your talent to grow and learn. Top talent loves learning. Fuel that love of learning with new technology, challenges, and opportunities.
In conclusion, captivating investor interest takes more than just a viable product and a solid business plan. A talent strategy must be a fluid and dynamic part of your core growth strategy.
For more information on developing a comprehensive talent strategy, reach out to us: