To the Stars Through Difficulties: How Smart Hiring Helps Startups Survive a Crisis
11.09.2023
We at Lucky Hunter have been collaborating with startups for years and always keep an eye on the latest trends in the IT industry. The times of crisis have brought many challenges for young companies, and unfortunately, many of them couldn't make it to the next round of funding.
However, the startups that were born during the crisis and managed to overcome the difficulties are growing and attracting the attention of investors. Today, we will tell you about one of the key factors of startup success – smart hiring, and share how it helps startups thrive even in the most challenging times.
However, the startups that were born during the crisis and managed to overcome the difficulties are growing and attracting the attention of investors. Today, we will tell you about one of the key factors of startup success – smart hiring, and share how it helps startups thrive even in the most challenging times.
A Strong Team = a Successful Startup
The success of a startup depends not only on the founder and a great concept but also on the entire team. The founder is the visionary and leader, while the team is the driver and executor.
The success of a startup in bringing its idea to market depends on the team's cohesion and their capacity to collaborate effectively while addressing intricate challenges. Moreover, a well-functioning team can offset any shortcomings the founder may have in terms of team management and technical expertise.
The success of a startup in bringing its idea to market depends on the team's cohesion and their capacity to collaborate effectively while addressing intricate challenges. Moreover, a well-functioning team can offset any shortcomings the founder may have in terms of team management and technical expertise.
What are the Foundations of Effective Hiring?
Analysis of Needs and Possibilities
- Carefully analyse your needs. What kind of specialists does your company require, and at what level?
- Consider the conditions you can offer to candidates. It's important to remember that many candidates prioritise a stable income rather than just focusing on prospects and options.
- Offer remote or hybrid work options. In 2023, many candidates overlook job openings that exclusively require office work.
- Decide in which region you want to recruit specialists.
Case
An international fintech company approached us with a request to find a blockchain developer. The vacancy required relocation to Abu Dhabi. Initially, the client was looking for candidates from Russian-speaking countries. However, after compiling statistics on the vacancy, including the number of rejections, and analysing the reasons, we proposed changing the search strategy and convinced the client to consider blockchain developers in other regions like Pakistan and India.
We successfully filled the vacancy within two weeks.
An international fintech company approached us with a request to find a blockchain developer. The vacancy required relocation to Abu Dhabi. Initially, the client was looking for candidates from Russian-speaking countries. However, after compiling statistics on the vacancy, including the number of rejections, and analysing the reasons, we proposed changing the search strategy and convinced the client to consider blockchain developers in other regions like Pakistan and India.
We successfully filled the vacancy within two weeks.
Transparency
When communicating with a candidate, share insights about your product and its distinctive features. While it's natural to want to present a positive image, don't shy away from discussing the challenges your company encounters. A great product and the right motivational strategy can persuade a candidate to join your team without making them feel misled.
Case
A few years ago, we successfully recruited a Senior C++ developer for a startup. Working in a startup always involves risks, and not all senior specialists are willing to work in conditions of uncertainty. Our agency identified a promising candidate; however, they initially hesitated to leave their secure job for a more uncertain startup project. We organised an interview between the candidate and the startup's CEO, who did an exceptional job motivating the candidate. As a result, the developer became enthusiastic about the job offer and ultimately chose to accept it.
A few years ago, we successfully recruited a Senior C++ developer for a startup. Working in a startup always involves risks, and not all senior specialists are willing to work in conditions of uncertainty. Our agency identified a promising candidate; however, they initially hesitated to leave their secure job for a more uncertain startup project. We organised an interview between the candidate and the startup's CEO, who did an exceptional job motivating the candidate. As a result, the developer became enthusiastic about the job offer and ultimately chose to accept it.
Speed
Speed is one of the small yet significant advantages startups have over large corporations. You don't need to go through multiple rounds and stages before making a hiring decision. Therefore, try to streamline the candidate selection process, eliminate unnecessary tests, and provide quick feedback to candidates.
Case
A German startup approached us with a request to find a Full-stack Node.js developer. We filled this vacancy within two weeks, thanks to the client's openness to dialogue, willingness to listen to our recommendations, and efforts to meet as many market requirements as possible. Additionally, our client provided prompt feedback, swiftly reviewed candidates, and scheduled interviews.
A German startup approached us with a request to find a Full-stack Node.js developer. We filled this vacancy within two weeks, thanks to the client's openness to dialogue, willingness to listen to our recommendations, and efforts to meet as many market requirements as possible. Additionally, our client provided prompt feedback, swiftly reviewed candidates, and scheduled interviews.
Competent Recruitment: Only the Pros
Investments
Investments ensure the growth and stable development of young companies – a well-chosen team can demonstrate the startup's potential to investors. Investors pay attention to experience, adaptability, and dedication to the project. A strong team can navigate challenges and recover from developmental missteps, whereas a weaker team may fall short due to insufficient experience.
Growth and Development
A high-quality team can accelerate the development and launch of a product or service into the market.
Competitiveness
Startups face fierce competition in the market. A strong team can significantly enhance market visibility, drawing in more customers and investors.
Budget Optimisation
Making incorrect hires can result in significant time and resource losses. For example, hiring an employee incapable of fulfilling their duties can lead to project delays and additional expenses for retraining or replacement. Moreover, hiring the wrong personnel can result in turnover, which leads to extra costs and time investments.
Employer Brand
Smart hiring can help strengthen your employer brand and streamline future hiring processes: your reputation will precede you, allowing potential candidates to become familiar with your organisation even before first contact.
At Lucky Hunter, we understand the difficulties and challenges that startups face when it comes to hiring – that's why we have created a special offer for startups. Our IT recruiters will carefully study the requirements and goals of your company, create a search strategy, and find the best IT specialists. Fill out the form, and we will get in touch with you!
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Alexandra Godunova
Content Manager in Lucky Hunter
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