Hiring Top Startup Talent on a Budget during the Great Resignation

Hiring Top Startup Talent on a Budget during the Great Resignation

The Great Resignation wasn’t concocted by corporate media to sell advertising impressions – the battle to hire is genuine. According to the US Bureau of Labor Statistics, the percentage of workers who leave their employment has hit a 20-year high since the epidemic began. According to a Pew Research survey, most workers leave for one of three reasons: they don’t make enough money, they aren’t given opportunity to progress, and, probably most crucially, they feel disrespected.

Because of these issues, early-stage firms can no longer compete only on the basis of pay and perks. Instead, recruiting managers must persuade potential employees that they would be joining a welcoming environment where they will be able to grow their talents while contributing to (and sharing in) the company’s success. Because there is a very limited supply of ability and possibly the highest demand I’ve ever seen, it’s critical for individuals to consider how to stand out.

I chatted with Glen Evans, a partner on Greylock’s core talent team, at TechCrunch Early Stage to discover more about how entrepreneurs can streamline the recruitment and hiring process, locate and nurture talent, and unearth some best practices for closing applicants. Evans, who has two decades of experience supervising recruiting and team development at fast-growing firms such as Slack, Facebook, and Google, said, “The status of the job market is more competitive than I’ve ever seen it.” He oversees a team at Greylock that provides recruiting and talent acquisition advice to portfolio firms.

“There’s a very limited supply of talent and perhaps the highest demand I’ve ever seen,” he added, “so it’s critical for people to think about how to distinguish and develop the foundations and habits to acquire talent properly in the early days.” “It’s hardly rocket science,” she says. Create a method for recruitment that is both systematic and repeatable (and keep it simple).

Before recruiting, Evans recommends that founders and hiring managers create a procedure that can expand as the organization develops. “I’ve seen a lot of firms do this really haphazardly,” Evans added, “and it leads to a lot of difficulties down the line.” “Create a planned, organized, and repeatable interviewing procedure with clear lanes and coverage areas for the interviewers.” Don’t make it too stiff, but give it enough structure so that new personnel can be trained.”

Each employee engaged must have a clearly defined function, but it’s also critical that every component of the recruiting process be in line with the company’s overall goal, marketing, branding, and product value. Train personnel on fundamental interview best practices and build scorecards that emphasize desirable criteria to improve cohesiveness. “Scorecards will help you align to the signals, ask the correct questions, build some structure, and then convey it to make sure everyone is on the same page,” Evans said. “They’re not recruiting on the basis of gut instinct – they have evidence to back up why this individual will be a successful employee.”

Encourage and invest in a recruitment culture from the start. The slogan “always be closing” comes from a play about high-pressure real estate sales practices, but it’s also a credo for early-stage startups who are still putting together their teams. According to Evans, team members must set aside time each week for recruitment, meeting applicants, and utilizing their networks to find new workers.