How can new businnesses attract competent employees?
Evans, Christina (2023)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023112832388
https://urn.fi/URN:NBN:fi:amk-2023112832388
Tiivistelmä
This study delves into how new businesses can attract competent employees – a must for the growth and success of any business. Nowadays employers must compete for top talent, therefore making employer branding and employee value proposition play a bigger role. Strategies to attract and establishing incentives are more than just monetary values: competent employees look for an environment that offers well-being, flexibility, challenge, and loyalty. Competent employee is someone with knowledge, experience, and passion to improve. Thus, attracting the right people for new businesses is strategically important as the employees are the ones also establishing the name, creating value, and brand of the new business.
The objective of this study is to answer the research question, “How can new businesses attract competent employees?”, by conducting qualitative research with four different companies and their founders. The interview questions are designed in such way which help answer the research question and sub-problems of this thesis. The same interview questions are asked from all companies and one chapter of this thesis is analysing the results.
The results suggest that when employer branding is well-established, incentives and benefits packages are diverse and personal, and when strategies to find top talent are right, competent employees can and want to work for small businesses. Despite small businesses perhaps not having financially competitive advantage, they can still attract with a good non-hierarchical working environment that offers freedom, which is not the always the case in older and larger companies. The results also indicate that the top talent seek challenges and new businesses offer plenty.
This study can help new businesses understand what the strategies are and the means how to find and appeal to a limited pool of talent. The research also helps to understand that monetary values are not the priority of today’s workforce and a company’s values, and recognition of the employees play a big role in the way the talent pool sees the employer.
The objective of this study is to answer the research question, “How can new businesses attract competent employees?”, by conducting qualitative research with four different companies and their founders. The interview questions are designed in such way which help answer the research question and sub-problems of this thesis. The same interview questions are asked from all companies and one chapter of this thesis is analysing the results.
The results suggest that when employer branding is well-established, incentives and benefits packages are diverse and personal, and when strategies to find top talent are right, competent employees can and want to work for small businesses. Despite small businesses perhaps not having financially competitive advantage, they can still attract with a good non-hierarchical working environment that offers freedom, which is not the always the case in older and larger companies. The results also indicate that the top talent seek challenges and new businesses offer plenty.
This study can help new businesses understand what the strategies are and the means how to find and appeal to a limited pool of talent. The research also helps to understand that monetary values are not the priority of today’s workforce and a company’s values, and recognition of the employees play a big role in the way the talent pool sees the employer.