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Start-ups face recruiting difficulties due to poor finance

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Weak finance is preventing start-up firms from hiring talented employees, said Nguyen Duc Hai, co-founder and training director of VietFounder.

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Nguyen Duc Hai


Hai said a start-up company had to face numerous difficulties but to him, the two most challenging obstacles are finance and human resources.

"Companies have difficulties in searching for funds to maintain operations but the managing skills of many firms are still weak that's why many potential projects were halted. Due to weak finance and recruitment skills, it is hard for start-up companies to attract talent. Moreover, talented employees often prefer working in big companies than taking risks with start-ups," he said.

He went on to say that newly-established firms need enthusiastic and ambitious employees and graduates fit those requirements the most. But employees agree to work at start-up companies when there are other motives such as outstanding leaders, products with great potential or they have the chance to own part of the firms.

On the first days when the companies are set up, they often do not have detailed working process and the working environment is messy and unprofessional. Some firms may feel less confident when recruiting or employees will leave after a while because they do not feel that they have chances to show their talent.

However, despite organisational teething problems, start-up companies have advantages over the major firms. Leaders and employees will feel equal and the dynamic workplaces make young people more open and ready to help each other.

"In another company, it may be impossible or very slow to make some serious changes and so the opportunities are lost. Meanwhile, 80% of a project can be changed quickly in start-up companies. This is also an attractive factor for young talent," Hai said.

Moreover, they also have more chances to earn promotions or learn from co-workers or their own CEOs. This is a great benefit especially to the graduates while other firms favour experienced employees.

Hai admitted that wages at VietFounder are not huge, but in return, both of the founders are enthusiastic about training young employees. "During job interviews, I also emphasise the benefits of the opportunities to learn and develop one's self in this environment to persuade talented employees to work for us," he said.

On November 16, Navigos Group announced the results of the survey on recruiting at start-up companies at TechFest 2017. 54% of the surveyed firms have the demand for new recruitment in the next three months. 17% need new recruitment in the next three to six months and 11% need new recruitment in next six to 12 months. 

Experience is not the deciding factor as 35% said they would recruit graduates and 49% said salary was the most difficult factor. 64% admitted that they do not have anyone in charge of human resources.



Source: dtinews

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