If you’re currently in the market for a new job, you may be wondering if a startup company could be a good fit. Startup companies are often recognized for having a more modern and less traditional internal structure. For some, this may be a huge benefit; while others may prefer a more traditionally structured place of employment. Like any job, there are a few pro’s and con’s to consider before exploring an opportunity at a startup company.
Opportunity to Grow
Internal growth within a startup company is a great benefit to current and future employees. Changes within a startup tend to happen frequently; this paves the way for new opportunities to open within the company. The more consistent company growth is, the greater the workforce will need to be. This usually serves as an opportunity for employees to climb the ladder at a slightly faster pace.
Flexible Work Environment
A major advantage to working for a startup company is often the flexibility offered to employees. Many startup’s offer flexible work hours, work-from-home opportunities, gym memberships, meal plans, and more. Employees can experience a healthy work-life balance, that not only means something to them, but the company they work for as well.
High Job Satisfaction
Startup companies often provide a collaborative workspace for their employees. This can be reflective of things like “pod seating”, or one on one weekly meetings between an employee and management. The collaborative effort within a startup gives employees a sense of worth, like the work that they’re doing matters and directly impacts the company’s success. According to Forbes, “with much smaller teams, taking on a lot more work, your role and its direct impact on the success of the organization is very clear.”
Working for a startup isn’t always easy. With a focus on smaller teams for collaborative purposes, this often comes with a larger workload. While this often gives employees to opportunity to wear a few different hats and master new skill sets, for some, it tends to be overwhelming. In many cases, working for a startup can mean working more than the typical 40 hour work week. Take this into consideration in your job hunt process.
Potential Pay Cuts/Lack of Job Security
While your workload may increase, your pay rate and job security may not. Startup companies can sometimes come with a pay cut; in many cases, this is due to the company’s young age. Additionally, up to 90% of startups fail within the first three years. You’ll want to consider how new the company is, before planning out your entire career path there.
Change is usually consistent within a startup’s culture. A growing company needs to maintain an adaptable internal structure to ensure they are prepared to make drastic changes. If you’re looking for a more stagnant culture, where your structure remains consistent, a startup may not be your best bet.