How to Build Strong Teams for Uncertain Times: A Guide for Startup Founders in 2024

The need to build robust teams capable of navigating economic uncertainties is more crucial than ever. In this short guide, we'll help you, founders, with actionable strategies on how to attract and retain top talent.

Why should I hire a strong team right now?

Following the large-scale layoffs from industry giants like Amazon, Alphabet, Meta, Microsoft, and also Unicorns as Klarna, Pleo, Beamery, etc. An abundance of highly skilled professionals are now seeking opportunities in the startup world, particularly in emerging technologies. This presents a unique window of opportunity for startups to attract top talent that is not only experienced but also eager for more engaging and fulfilling work.

Another crucial info to pay attention to is: that venture capitalists are increasingly looking for founders who efficiently utilize capital and focus on building sustainable business models. For startup founders, this means not only assembling a team with the right skills but also demonstrating efficiency in resource utilization.

Okay, I’m convinced. So, how can I build a strong team?

To build a resilient team capable of thriving in uncertain times,  founders need to focus on attracting the right talent. Here, a great question emerges: How to define what is the right talent?

Look for these game-changer skills:

• Startup Experience or Wilingness: Look for candidates who have experience in Startups and will be able to understand your needs. Also, think about candidates with corporate or big tech experience who are willing to join a startup and could bring new perspectives to your company.
• Open to Learn: Look for candidates willing to learn and adapt quickly to new challenges.
• Resilience: Identify individuals who remain focused on priorities, even in challenging situations.

But, to build a great team you need more than to know which people you want to hire. You need to make the top talent want to work for you. So, how about that?

Make Your Startup Attractive:

• Set a Budget and Research Salary Benchmarks: Establish competitive compensation packages by setting a budget for each role and researching industry salary benchmarks.

To set your budget according to the market you could get some insights from surveys regarding salary budget, such as Salary Budget Survey, from payscale.

• Offer Competitive Compensation and Equity: Provide competitive compensation and equity options to attract top talent.

Just to give you some perspective, according Paylab a Sales Manager’s salary in Portugal varies between 2k EUR from 4k EUR per month. If you’re in Spain the numbers are much higher: for the same position of Sales Manager, the salaries vary from 3k to 8k EUR., a Sales Manager’s salary in Portugal varies between 2k EUR from 4k EUR per month. If you’re in Spain the numbers are much higher: for the same position of Sales Manager, the salaries vary from 3k to 8k EUR.

That said, you should always do some quality research before defining your budget for a specific role, taking into mind the market reality for the job and where your company is based.

• Showcase Career Growth Opportunities: Emphasize opportunities for career advancement and skill development within your startup.

You should make sure the candidates feel that they can grow in your company. Add to your job ad information regarding growth opportunities for the position, or the career development available in the company for this specific position. And be as transparent as you can (that means if you can share salaries and benefits for the new career opportunities the better).

Let's take the sales manager for the previous point as an example. If you're hiring for a sales manager position, add in your job description how it can grow for a head of sales, and add possible improvements to benefits and salary.

One other important thing is learning and development opportunities: Give good opportunities for your future employees to learn more and develop in their careers. More than give: show the learning and development possibilities in the job description.

Look in the right places:

• Use Online Job Platforms and Social Media: Leverage job boards, industry-specific websites, and social media to reach a wider audience.

For startups looking to find top non-tech talent and post job ads for free, check out ambi.careers. Register now to connect with vetted non-tech professionals willing to find a job at a great company: http://bit.ly/3vvmLV8