A strong mission makes it easier to hire
To get employees cheaper, you need to offer them something compelling beyond the salary and screen out all the mercenaries in it only for the cash.
For someone to take a pay cut to work for you, they need:
Inspiration
Growth
Perks
Let’s focus on inspiration today.
**Inspiration: **SpaceX’s mission is to make humanity a multi-planetary species. People are prepared to work crazy hours in grueling conditions to be part of that mission.
We’re changing the world for the better is a strong motivator. The strength of your mission and how well it resonates with people will offset a lower salary.
But they still need to get paid enough to support their living standards. Above that bar, what you do is more important than extra cash.
Startups are at an advantage here, but it all depends on the product. If you’re in ad tech or surveillance, you will have difficulty convincing people about your big, positive mission.
Beyond just being on board with the mission, someone joining your team needs to know how they will personally and meaningfully contribute to that mission.
Get that right, and you’ll attract people who put in 100% because they believe in what you do.
Best regards,
Taj