From difficulties hiring to high levels of competition, tech businesses aren’t short of issues when trying to scale up.
During such critical periods, tech businesses are looking primarily to scale up, rather than to grow, as the first involves increasing revenue without incurring significant costs and the latter requires new resources and additional costs.
It’s time to scale your tech business… So what steps can you take?
Company culture is an area that often presents significant challenges for businesses… But why?
For mid-stage companies looking to scale up, the company will often go from one that is quite tight-knit to one that is considerably larger and includes remote or hybrid workers.
Whilst this might not seem like an issue on the face of things, it can often result in employees struggling to work towards the same goals or to feel valued and respected enough to do so.
There are a few key issues here to manage in order to scale up
Employer brand is a critical tool in your recruitment efforts, particularly when trying to expand your workforce and build out your C-suite effectively.
There are multiple areas of employer brand that are important when it comes to scaling up, such as employee benefits.
In other words, how are you going to reward employees for the skills and expertise they bring to their role?
Benefits can cover multiple areas, such as:
Many businesses are reluctant to either change the way that they hire or readjust the structure of their workplace.
However, both of these elements are critical to the success (and scaling up) of your tech business.
When it comes to the attraction aspect of recruitment, elements such as employee benefits and employer brand (as mentioned above) can be critical factors for hiring in such a competitive landscape.
Additionally, businesses should focus on avoiding hyper-specificity when hiring – talent is scarce, and if you’re not expanding your talent pool by adjusting some of your requirements, it’s unlikely you’ll be able to compete for such a narrow demographic.
Retention is equally important as employees will act as your advocates when hiring new candidates, and it also keeps your business stable during volatile hiring markets.
Retaining employees is equally reliant on the benefits you offer, as this is a competitive advantage that is likely to stop employees from looking elsewhere for better options.
The talent networks of today are global.
Candidates and employees are no longer looking for a fixed-location, 9-5 office job.
For many, hybrid and remote working (or any flexible working arrangements) are the new norm, which opens up an entirely new talent pool to businesses.
To be able to benefit from this, however, businesses need to work on ensuring that salaries are competitive and that their employer brand is highly visible, alongside employee benefits outlined in job ads.
Hiring without the limitations of proximity or geography is often necessary for such competitive hiring markets – tech talent is, after all, a high demand and low supply demographic.
Additionally, expanding globally through your talent network means that you can focus on work productivity and quality rather than hours spent in the office, which is better for your business in the long term.
At Remit, we’re leading talent partners that use an honest, transparent approach to every relationship we build and service we deliver.
We use our global network to deliver people with the critical and emerging technology skills you need to continue your rapid growth.
Remit is the perfect talent partner for businesses looking to scale up because our mission is to increase your access to the best talent – you can secure people critical to the success and growth of your business easily and efficiently.
There’s never been a better (or more critical time) to scale your tech business!
We’re a leading cloud talent provider for businesses and professionals across the world, connecting fast-growth start-ups and scale-ups with the most ambitious and talented professionals.