Why are you losing your top talent to up and coming start ups?
“Start-ups, which generally tend to have lean teams, can sometimes face the brunt of employees quitting their jobs very early on due to a number of reasons.
Are talented employees quitting your organization to take their chances working for promising start-ups? Then perhaps it’s time to rethink your approach to talent retention. We’re happy to share our advice below.
The start-up magnet
Young professionals and high potentials find working for a start-up attractive for several reasons:
- Start-ups offer various jobs in dynamic sectors such as digital marketing.
- Start-ups brand themselves as hip and trendy employers and always encourage their employees to help them discover ‘the next big thing’. Often, its employees feel that they are creating a great deal of added value.
- The corporate culture at start-ups tends to be young, open and flexible.
- High potentials believe small enterprises offer more and faster growth opportunities.
- Working for an up-and-coming start-up looks great on your resume, because it is an indication of entrepreneurship.
- “Start-ups can sometimes face the brunt of employees quitting their jobs very early” – Sheha Banerjee, entrepreneur
The above-mentioned factors explain why talented professionals love the idea of working for a start-up. But while start-ups excel in talent attraction, they often experience problems when it comes to talent retention. Sheha Banerjee describes the problem as follows in The Entrepreneur:
“Start-ups, which generally tend to have lean teams, can sometimes face the brunt of employees quitting their jobs very early on due to a number of reasons. One of the major reasons cited by entrepreneurs has been the lack of patience and a prolonged hangover of a multinational ambience.”