New tech startup companies often find it is extremely difficult to compete against their bigger, well established competitors. This is due to the fact that it can be difficult for these startups to attract the most talented employees and acquire high-profile customers that help make their products well-known. To counter this hiring difficulty, tech startups nowadays offer countless perks to employees that help differentiate them from their bigger competitors, giving talented employees a reason to work for them as opposed to industry-leading firms. However, while these perks may attract a talented workforce, it is even more important that startups focus on building a solid corporate culture within the company. This is because a strong corporate culture gives employees a sense of inclusion within the company and helps them remain motivated in the long run, which are things that perks don’t really do. Perks basically attract talented employees, but a corporate culture is crucial in retaining them in the long run.
Tech startups are also adopting a creative strategy to compete against industry-leaders by making their products more well known: selling their new products and services to other startups for cheaper and more affordable prices. By giving other low-budget tech startups access to its products, a startup hopes that these startups will succeed and grow into widely known companies that use their products and eventually motivate other powerful companies to use them too. While this surely lowers the profit margins of these tech startups, they are willing to face lower profit figures in the short run as they know that they can obtain very promising results in the long run by doing this. Tech startups are therefore a crucial customer segment of other tech startups these days, and this collaborative strategy between startups is a creative way that is helping them compete against industry leading firms such as Apple, Google and Microsoft in the competitive tech industry.
article source: http://fortune.com/2014/10/17/hireart-free-recruiting-startup-perks/
image source: http://www.gainingresults.com/wp-content/uploads/2013/05/company-culture.jpg