If you’re trying to quickly expand your company, one of the most difficult steps will be finding experienced and talented executives. You’re going to need to work fast if you want to find the right people. Here are some of your primary tools for attracting the best options.
Leverage Your Network
Networking is important in all aspects of business – but it is extremely important when it comes to high-level executive relationships. People will go where their experience and their peers naturally lead them. It is, after all, a lot easier to get a job when you have a friend or associate recommending you. Even if your network is relatively small at the moment, use what you have. Take this opportunity to grow your network. Talk to business associates. Talk to old coworkers. Talk to other business owners who have been in the same position. Be polite, succinct, and direct. A good network will be incredibly helpful at all future points in your life.
Offer Equity Packages
Equity packages are a tempting benefit for high-level employees like executives. Why? You are essentially offering them partial ownership of the company. That usually comes in the form of stock options or restricted stock units. If an executive is hopeful for the success of a company, partial ownership will act as a further incentive. It can guarantee personal profits in a future where the value of the company has reached an all-time high. Your legal designation will also matter significantly; c-corps offer multiple options for equity ownership, for example. Make sure to find out how feasible equity packages would be for you.
Cultivate a Standout Company Culture
Executives are going to be in high demand in most cases. Even if they are initially attracted to your business because of pay or benefits, it’s probable that they will leave in a matter of months if your company culture is struggling to be a positive environment. Work hard to make sure that employees feel valued. Your managers should reflect that work ethic. If you want employees to care about your business, you need to care about your employees as individuals, as people. You should want to support them. Your executives should feel the same.
Persistence is of the utmost importance. Even if you don’t have much of a network at all, even if you are struggling to understand stocks – this is a critical moment for your business. Learn as much as you can and keep trying to find the executives that fit.
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