According the Federation of Small Businesses over 15 million people are employed by SMEs In the UK. And with the number of small businesses and startups continually on the rise the talent pool continues to dry up. Or does it?
A recent study by UK recruitment firm, REED, took a look at why a job-seeking Brits would take a leap of faith and go for the underdog instead of choosing corporate security. It also uncovered some other useful insights into what job seekers want from their new gigs in the startup world.
Not surprisingly the tendency towards flexibility and access to “innovators & visionaries” was a major attraction for jobseekers. Other major factors were increased recognition, greater ownership and faster career progression. Earning a higher salary was one of the least influential factors in about half of the different age categories surveyed.
Not just for young guns
The survey of 800 jobseekers revealed that millennials were not the only ones who are interested in working for startups. Even at the more mature age, the over 40s cited career progression and the opportunity for learning and development as the two most attractive aspects of being a startup employee.
So what’s holding them back?
Even though the 90% of those surveyed said they would strongly consider working for a startup and 6 out of 10 workers would be willing to take a pay cut if it meant working for one, there still seems to be some barriers to making a match between employer and employee. Although UK startups are no strangers to press, 28% of jobseekers said they don’t know where to look for startup vacancies and said they have applied for jobs without knowing the company they were applying with was a startup. Lastly 38% of jobseekers found a potential lack of job security and career stability as cause for concern when leaving a more established company.