The start-up sector is thriving, and while this offers many exciting opportunities for job seekers, it also means some candidates are facing a unique decision: whether to take a role with a large, established company, or accept a job with a smaller start-up business.
Considering an exciting opportunity with a brand new start-up? Here are five key benefits to help you decide whether to sign along the dotted line:
- Job stability. The risk of running out of money is very real for start-ups, and a significant number of small businesses fold within their first year. To minimise this risk, ask prospective employers about their projected growth and strategies for staff retention. If you feel a start-up has a solid business plan and you really believe in their products or services, it may be a gamble you’re willing to take.
- Career progression. If career progression is important to you, accepting a role with a start-up may be the key to taking your career to the next level. You’re likely to have more responsibility and be given more opportunities, given they’re likely to have less hands on deck. If you can demonstrate your successes, you may be the first in line for a promotion as the business grows.
- Bottom dollar. Salary is another important factor for job seekers, but don’t assume a new business won’t meet your earning expectations. Because they have small teams and investors, some start-ups can actually offer more money, though they’ll expect big results in return. Others may compensate by making their salary packages and staff benefits more attractive. These benefits may include work from home days and greater flexibility, giving staff the latest tech gear, and a focus on professional development and paid education. Consider all of the benefits on offer before making a decision.
- Atmosphere and job satisfaction. Job satisfaction can also be a key benefit in working with a start-up: particularly if you value making a real contribution to the success of the company and you like to have your ideas heard, and especially if working with a start-up means getting your foot in the door of an industry and area of business you’re truly passionate about.
- You’ll learn from innovators. No matter how your job with a start-up pans out, the opportunity to work closely with, and learn from, true innovators will prove inspiring and invaluable, no matter where your career takes you in the future. Learning the value of innovation and seeing how it applies in business is always a worthy use of your time. It will also offer a range of transferable skills that could set you apart from the competition for years to come.
If career progression is important to you, accepting a role with a start-up may be the key to taking your career to the next level.