STUDY NAMES POPULAR STARTUPS FOR EMPLOYEES
LinkedIn list looks at companies that attract more top-tier talent
Despite what many think, not all startups are struggling to find toptier talent these days. LinkedIn recently released the first Canadian edition of its 2018 Top Startups list. The study names the most sought-after startups where professionals want to work and stay, based on the actions of 14 million Canadian LinkedIn professionals.
While tech companies accounted for many of the Top 20 companies, the list also includes an eclectic mix of food and beverage, research and marketing standouts.
Daniel Roth, senior editor for LinkedIn in New York City, says this is the first year they have released a Canada-specific version of the startup study. “In determining the top companies we measure their interest in the company when a job is posted, and retention once they are hired.”
He notes that overall top Canadian company listings tend to be heavily weighted on the banking side. “In the U.S. it’s a lot of big tech companies, while in the U.K., retailers top the list.”
The startup scene, however, has its own characteristics, hence the need for a dedicated study, he explains. “We wanted to make sure we were capturing younger companies that are having a massive impact on the economy.”
To determine the results, LinkedIn looked at four pillars: engagement with non-employees (e.g. people following the company or its employees), the number of applications for job listings, the rate of a company’s employee growth, and how well they can attract talent from top companies. “If you are pulling talent from some big players, that’s a real signal these companies are making a massive impact,” Roth says.
He cites three common elements that stand out among the top companies. First is engaging employees to share content online. “Writing and sharing thoughts on their areas of expertise can build a company’s profile in a very authentic way. Applicants care about what managers are like and what they think. Your people should be visible and be heard.”
Second is clear job descriptions that showcase the company mission and the expectations within that role.
The best companies are also those that follow up with every person that applies, Roth notes. “In a tight labour market, companies need to be responsive. No one wants to feel they dropped into a black hole.”
Sandra Ugrin, director of people experience at Coinsquare, the No. 2 company on the LinkedIn list, after Wealthsimple, says as the company has grown, there has been no shortage of great candidates to choose from. She attributes that to really strong engagement online and a staff that enjoys sharing, reporting and retweeting what goes on within the company.
A company like Coinsquare, a digital currency trading platform, can offer exceptional career opportunities, Ugrin believes. “People can help to grow the business and their career at the same time. We think about a job as an opportunity where you are paid to learn, and can come to work every day knowing you are doing something meaningful.”
Ample Organics, which ranked seventh, is a developer of compliance reporting software for the cannabis industry. CEO John Prentice observes there are a lot of people today looking at cannabis as the next great career opportunity. Most are around retail or production. “However, not everyone interested in the industry wants to touch the plant. A lot of software developers want to be part of it as well.”
He says Ample’s job postings elicit a large number of responses. A recent posting for an executive assistant position for example, received more than 250 applications.
The quality of applicants for senior roles is equally impressive. “We’ve had people from IBM and Shopify, as well as investment bankers and health-care company executives,” Prentice reports.
Having just crossed the 100-employee mark, Ample is aiming to increase staff to 150 toward the end of the year. As part of its hiring efforts, it also engages in a lot of outreach within the tech community through different startup organizations, and encourages employees to post reviews on Glassdoor.
As Roth notes, some might think that companies offering such perks as ice cream or ping pong are drawing cards. “When we ask professionals, that’s not what they value. They want to feel invested in a company that has some kind of purpose. The rest is just window dressing.”
Many candidates see rapidly growing startups as a means to acquire additional skills and experience, he adds. “People are leaving Wall Street to work with companies like Wealthsimple or Coinsquare because they want to take on new challenges. They want to work for companies with some kind of purpose. It’s a hugely attractive proposition for them.”