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What are some low-cost incentives to attract talent?

Uncover creative, low-cost ways to attract and retain talent for your social enterprise by focusing on growth, mentorship, and meaningful perks

Video

Featured speaker

Ebun Feludu

Ebun Feludu

West Africa Acumen Fellow

Transcript

Ebun Feludu, Founder & CEO, Kokari Coconuts & Company 

Finding talent and attracting talent for a small company like ours has been challenging.

We are small, and I've done a lot of bootstrapping, wearing like a thousand hats from bricklayer to, I don't know. Think of everything that an organization needs. 

As a founder with a growing company, you have to wear those hats. Of course, you need to expand and you need more people.

Offer development pathways

What we've tried to do in the organization is to design a development plan for everyone who comes into the organization so that they can see a growth path for themselves, personally and within the organization. Because I firmly believe that our organization should be a cocoon for everyone to grow into the best forms of themselves and to realize their own dreams as they help to actualize the dreams of the company.

Creating a development plan is really important.

Finding allies in bigger organizations who can mentor members of our organization and help them grow in their personal capacities and just pushing them a little to look inward and say, "Okay, where do I want to be in a year? What are the things that I want to have that I don't have now?"

That is one way of at least attracting talent.

I think what has also been attractive is that the talent, they've had access to international mentors of people doing similar work to them, but in international organizations. It gives them something even bigger than their world to aspire to.

Offer non-monetary incentives

It's difficult to compete with the big organizations in terms of salary.

One of the things that we do is we have a portion of our land where we grow food for the staff. Right now, we farm things like sweet potato and beans and things like that, all in between the coconuts, and we share with staff because a large portion of people's salaries goes to feeding. Once they're able to know that they can get food directly from the farm and healthy food, that is a really nice perk that people have.

Key takeaways 
  • Design personal and professional development plans

  • Secure mentors for team members from larger organizations

  • Consider offering your product/service to your team