Big companies have bigger brands. Their workplaces win awards. They pay big, promise stability & have a slew of perks & benefits that can seem unbelievable. When they open a job, they get thousands of applicants, in the first hour.
There are two surprising observations I've had since launching Rockstar. The first was how often smaller companies choose to not even compete for top-tier talent. And second, for the small companies that did compete... how often that they won.
In future posts, we'll dive more into more of the tactics & strategies of winning top talent. But today we'll lay out where the BigCo approach to hiring creates the clearest opportunities for smaller employers.
#1: Mo money, mo problems
BigCos can get tens of thousands of applications for an open job. So for most roles, BigCo recruiters are spending their sourcing time reviewing applications. This means they are far less likely to do outbound, which leads them to miss out on the 70% of talent who aren't actively applying.
#2: Playing it safe
At a BigCo, every incentive is to take as little risk as possible. For your 10,000 employee, the upside of a great hire is low. But the downside of a bad hire is very high. It's much harder, slower, and more expensive to fire someone. So hiring managers tend to prefer someone safe vs someone who might be great.
#3: Specialists over generalists
The key to winning if you're big is to hire people who are specialists. They are exceptional at doing a narrow thing well. They have less of a need for "generalists" who can do a bunch of things well enough.
#4: Speed limits
BigCos have reasons to value stability & preservation over everything else. One of the ways they achieve this is by putting limits in place to limit downside, even if it also limits upside. This means there are often speed limits on your growth, your ability to make impact, and to get things done. For many of the most talented people, this can be a deal-breaker.
***If you play a little version of the BigCo game, odds are you'll have to pay more and get less. But if you're willing to play a different game. A game on your terms. There's a lot of room to win, and to win big.