I attended a presentation on entrepreneurship by Satya Prabhakar, Founder & CEO of Sulekha.com, on August 31 at an event organized by TiE-Chennai and the Loyola Institute of Business Administration (LIBA).
I found the points he made on hiring and retention quite interesting.
He suggested entrepreneurs look out for "5Is" for hiring and 'three 4-letter words" for retention.
The "5 Is"
3. Industry (ie, Hard work)
5. Interpersonal Skills
The 3 4-letter words:
1. Work (i.e., its content)
2. Love ("Am I valued and appreciated here?")
3. Hope ("Is this place enroute to something great?")
Entrepreneurs should not allow an employee to settle into a comfort zone and keep setting the bar higher.
Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of information and networking services to the Private Equity and Venture Capital ecosystem in India. Click here to learn about Venture Intelligence's products and services for entrepreneurs.