When you are a small business, attracting top talent often presents a unique challenge, especially when competing with the allure of equity offers from startups.
From my experience, particularly between 2019 and 2022, I observed a trend where many skilled professionals were predominantly attracted to the potential rapid wealth of startup equity, frequently inquiring about compensation structures with an equity component.
This trend posed a significant hurdle in our recruitment process, as we missed opportunities to bring individuals captivated by the startup dream on board. However, it also led to an enlightening realization.
We found that individuals who valued well-structured retirement and profit-sharing plans, such as robust 401k offerings, often aligned more closely with our long-term vision. These professionals, who prioritize stability and sustainable growth over the uncertain pursuit of unicorn exits, are our most valuable assets. Their long-term perspective and appreciation for a secure financial future enable them to thrive in a stable environment.
Moreover, by focusing on offering competitive salaries and comprehensive benefits, we’re able not only to attract but also retain individuals who are genuinely invested in the growth and success of the business.
