The startup market is a precarious and volatile one to be in.
The startup market is a precarious and volatile one to be in. No matter how much one may plan ahead and regardless of the amount of funds a company has, sometimes economic circumstances lead to unfortunate endings – as the bursting of the dotcom bubble in the early 00s demonstrates clearly. As businesses come and go, some might be reluctant to hire from a pool of candidates who used to work at one of these unsuccessful ventures. However, it would be a mistake to attribute a company’s downfall to its employees. An individual’s talents should not be determined by who they used to work for, as the closure of a company does not affect the skills they have.
Deeper Understanding
These talents, who have gone through the vicious ebb and flows of the startup industry, emerge with a deeper understanding of the circumstances. They become informed individuals with instinctive knowledge of the entrepreneurial world. This kind of knowledge isn’t one that can be taught or trained, but is only learned through hardship and experience, thus making these employees more valuable than they would seem to be.
They Are Risk-takers
Moreover, the willingness of these talents to find labour in the volatile startup market shows the passion and risk-taking ability they have when he or she could have taken a cushy job with any multinational giant, which are less swayed by international economic turbulence. Passion and the ability to take risks should be viewed as positive attributes that can contribute to a business’ overall performance, due to their disposition for breaking out of the mould with new and innovative ideas.
Failure Is Positive
Lastly, the capability to take a failure in an industry and to give it another go speaks volumes about an individual’s tenacity. In most success stories, many recall multiple failures and hardships before their eventual success, and the ability to turn a dire situation into a positive one ought to be counted as an asset.
Other Things of Note
However, these attributes boil down to each individual, as not every former startup employee will demonstrate such abilities. While it is good to consider such talents, there are also a couple of red flags that must be avoided should you encounter them. One such red flag would be individuals who rush to pass the responsibilities onto others for their situation – whether disingenuous or not. They should always be approached with caution. Putting the truth aside, an individual who bad mouths former employers show a lack of character, and would be a detriment to an organization.
In such a tumultuous job market, companies should take the time to find the right fit for their available positions, with all things considered. As training and onboarding costs rise, a wrong hire could set a business back, while the right one would only be beneficial in the long run.
