Startup life can be extremely stressful as every deadline could make or break a business. This stress can be worth it especially if a company makes it big and an employee was at the ground level. The corporate life at an established company is going to be much more stable but work done by an employee might not impact the company at all. Issues are plentiful in startups with some being due to growing at a faster rate than expected as well as first time founders trying to set the business up for success. The following are crippling issues that startups can face as well as how to deal with them.
High Employee Turnover Rate
Training employees to be profitable is a large investment for companies as it can take thousands of dollars in time and money to do so. For this reason a high employee turnover rate can cripple cash flow. To solve this you are going to have to sure up hiring practices as you are choosing the wrong type of candidate. Those people who frequently switch jobs are going to try to find something better as this is what they have done in the past. A good HR company can help you with this as they staff hundreds of companies successfully per year. [Read more…] about Startups and Crippling Issues That They Can Face