Greylock Talent Team | Building Your Talent Strategy | Summary and Q&A

TL;DR

In an uncertain hiring landscape, startups should consider working with recruiters to find and retain high-quality talent.

Key Insights

• 🔬 The hiring landscape has become more uncertain, with hiring freezes and labor shortages affecting the process.
• 💦 Startups should consider working with recruiters to find and recruit top engineering talent.
• 🤗 Factors such as time availability, number of open roles, and growth rate should be considered when deciding to bring in a recruiter.
• ❓ Recruiting agencies can still be relevant for startup recruiting, especially for difficult or important hires.
• ⁉️ Founders should prioritize transparency and be prepared to answer tough questions from recruiters.
• 😤 Startups should focus on building a recruiting culture from the beginning, involving the founding team and early employees.
• 👨‍💼 Startups can differentiate themselves from established companies by emphasizing their mission, culture, business opportunity, and personal growth.

Transcript

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Questions & Answers

Q: How has the hiring landscape changed in the past few years?

The hiring landscape has become more uncertain, with hiring freezes and labor shortages affecting the process. Demand and supply are becoming more balanced, and top talent will still have leverage even in challenging market conditions.

Q: When should startups consider bringing in a recruiter for help?

Startups should consider bringing in a recruiter when founders and early teams are spending too much time recruiting and can't focus on other aspects of the business. The number of open priority roles and the growth rate of the company are also important factors to consider.

Q: Are recruiting agencies still relevant for startup recruiting?

Yes, recruiting agencies are still relevant and can be useful for filling difficult, important, or time-consuming roles. They provide an additional channel for generating candidates outside of the startup's network and can bridge the gap in skill sets or experience.

Q: What should founders look for in a recruiter?

In addition to considering the recruiter's background and track record, founders should look for traits such as drive, thoughtfulness, good listening skills, and a growth mindset. Low ego, positive attitude, and great customer service are also important qualities.

Summary

In this episode of the Grey Matter podcast, Glenn Evans and Duane Hamilton discuss the current hiring landscape and dive into best practices for working with recruiters in the talent search process. They highlight the importance of transparency, the role of agencies in startup recruiting, and the traits to look for in a recruiter. The conversation also explores the differences between recruiting at large tech companies and startups, the culture-building aspect of recruiting, and common pitfalls to avoid when working with recruiters in the startup context.

Questions & Answers

Q: How would you characterize the hiring landscape today?

The hiring landscape today is uncertain and has undergone significant changes over the past two years. Hiring freezes and labor shortages have had an impact, and the balance between demand and supply of talent is shifting. While top talent will still have leverage, companies will need to be more thoughtful in their hiring practices. Startups are still seen as a great place for career growth and learning.

Q: When should startups consider bringing in a recruiter for help?

The decision to bring in a recruiter depends on several factors. Time constraints, the number of open roles, and the growth rate of the company are important considerations. Generally, it's recommended to consider bringing in a recruiter around Series A or Series B stage to ensure the right foundation is in place for scaling.

Q: Are recruiting agencies still relevant for startup recruiting?

Yes, recruiting agencies are still relevant and can be a valuable channel for generating candidates outside of personal networks. However, they should be used effectively and selectively for difficult, important, or time-consuming hires. Proven agencies with a solid track record should be prioritized, and attention should be paid to fee structures and overall support provided by the agency.

Q: What traits should founders look for in a recruiter?

In addition to general background and track record, traits such as being driven, thoughtful, and a good listener are important. Recruiters should have a growth mindset, low ego, and be great teammates. The ability to handle difficult conversations and provide hard feedback is also crucial. Additionally, recruiters should be able to effectively pitch the startup's vision and value proposition to candidates.

Q: How can founders assess these traits when interviewing recruiters?

Open-ended questions about past experiences with difficult roles, feedback received, and approaches to candidate pitching can help assess a recruiter's traits. Understanding how they would get up to speed if they joined the startup and what metrics they prioritize can provide valuable insights into their approach and mindset.

Q: How do tactics at large tech companies differ from those at startups?

Large tech companies like Google and Facebook have more established processes and resources for hiring at scale. Startups, on the other hand, need to be scrappy and move fast. The focus for startups should be on providing a white-glove experience, treating candidates as relationships, and building trust. Startups can learn from best practices of larger companies while adapting to their own unique needs and constraints.

Q: How do startups build a recruiting culture from the beginning?

Building a recruiting culture starts with the founding team and early employees setting an example, reaching out to their networks, and creating a great candidate experience. All hands should be on deck for recruiting during the seed stage. As the company scales, bringing in a full-time recruiter can help scale and document processes while allowing other team members to focus on impactful recruiting interactions.

Q: What should recruiters be concerned about when considering working for a startup?

Recruiters should consider the unique opportunities that startups offer for career growth, exposure to different responsibilities, and learning experiences. They should align their values with the startup's mission, culture, and business opportunity. It's essential to understand the stage of the startup and the level of support and partnership they will receive.

Q: What are some common pitfalls to watch out for when working with a recruiter?

Pitfalls can include hiring too junior in the beginning, relying too much on agencies, or indexing for skills that may not be essential at the current stage of the startup. Transparent communication and a supportive partnership with the recruiter are essential. Setting expectations and measuring results, seeking advice from other founders or venture capitalists, and avoiding confusion with too many opportunities can lead to a successful collaboration.

Q: How important is transparency and what tough questions might recruiters ask founders?

Transparency is crucial in building trust and alignment between recruiters and founders. Recruiters may ask tough questions about financials, runway, growth numbers, and other sensitive topics. Founders should be transparent about these aspects and view recruiters as partners who can help navigate and sell the company effectively. Recruiters appreciate transparency and will work better with founders who prioritize honesty.

Takeaways

Working with recruiters in the talent search process requires transparency, alignment, and a strong partnership. Startups should consider bringing in a recruiter around Series A or Series B stage to ensure the right foundation for scaling. Recruiting agencies can still be relevant, especially for difficult or important hires, but should be chosen carefully. Founders should prioritize traits such as drive, thoughtfulness, and a growth mindset when selecting a recruiter. Building a recruiting culture starts with the founding team and early employees, and a full-time recruiter can help scale and document processes. Recruiters should consider startups for career growth, exposure, and learning opportunities. Pitfalls to watch out for include hiring too junior, relying solely on agencies, or indexing for irrelevant skills. Transparency, clear expectations, and ongoing support are key to a successful relationship with a recruiter.

Summary & Key Takeaways

• The hiring landscape has shifted to an uncertain place, with hiring freezes and labor shortages impacting the process due to global and local challenges.

• Startups should view working with recruiters as an opportunity to find and recruit top engineering talent and provide meaningful work and growth opportunities.

• Startups should consider factors such as time availability, number of open roles, and growth rate when deciding to bring in a recruiter.