Young Entrepreneurs and the Startup Culture
The startup industry, by its very nature, is helmed by young entrepreneurs. These young bosses have ushered in a work culture that is radically different. Startup spaces prize productive work culture above everything else. In pursuit of revenue and profitability, these young bosses are experimenting with myriad policies that will help them retain their young and restless but talented employees. These founders are paying close personal attention to the HR initiatives their HR departments are rolling out.
Flexible Work Culture in Startups
Work culture at these companies is a flexible work culture. Young CEOs are letting their even younger employees arrange their work schedules and place in a bid to increase employee engagement. Some startups do not insist on employees coming to the office at all, so long as they are available to their customers 24×7. Others allow their employees flexible work.
HR Initiatives for Employee Engagement
HR teams realize that employee satisfaction increases when they are engaged and happy. The initiatives that ensure employee engagement range from flexible work schedules, learning allowances, upskilling, and sabbaticals. Some companies also pay course fees for the employees who want to take up studies to upskill themselves. Such initiatives increase workplace engagement as well as employee satisfaction.
Innovative Approaches to Hiring and Retaining Talent
Startups, by their very nature, call for an innovative and dynamic approach to hiring and retaining the right talent. It is crucial for their survival. Young founders, in their quest for productive work culture, are offering cutting-edge initiatives to retain their employees. An initiative that has boosted employee satisfaction a great deal is partial buyback of ESOPs. This move by startups has generated a great deal of team engagement. Some employees choose to unlock value, others, convinced by the performance of the startups, decide not to.
Unique Employee Benefits and Support
Out-of-the-box ideas such as providing nap rooms to employees are being put in place. Nap rooms are especially for female employees who are pregnant or menstruating and experiencing discomfort.
Progressive Parental Leave Policies
Companies are going the extra mile in retaining talent by offering all their employees 26 months of parental leave – not just for women employees.
Fostering a Productive and Open Work Culture
Young bosses helming startups are aware that their nascent enterprises are more about people than the idea and the funding. They are keen to build a productive work culture of openness and high energy. They are therefore going all out to satisfy their employees’ needs. For they know that happy employees are key to the success of their enterprise.
Reference:
Young bosses go the extra mile for employees. 25.6.2019. Sreeradha D Basu, Brinda Sarkar.
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