A great piece by the founder of BrightRoll. He underlines that his company succeeded thanks to recruiting high impact and high-priced leaders to solve specific problems for his business. Start ups often get sucked into the trap of skimping on recruiting spend or trying to "hack" the process.
For in-demand execs, recruiting is an efficient market. Gimmicks don't work. Shortcuts often put companies behind their competition and makes them an also-ran in the talent market. There are no good shortcuts. You attract great candidates with a compelling product, an engaged process, and wealth-creating compensation.
As an investor, one of my favorite questions to ask startup founders is, “What is most important right now?” About 50% of the time the answer is “hiring great people.” My follow up question is always the same. “So, how much do you pay your head of talent acquisition?” Here is the brutal truth — talent acquisition employees are universally underpaid. While you will rarely find revenue focused companies with low sales compensation, you nearly always find talent focused companies with little to no investment in their talent acquisition organization. One of our most critical decisions we made at BrightRoll was to hire a senior head of talent acquisition and resource their team appropriately. At the time, many members of my team challenged my logic and felt we could execute a similar strategy with more cost efficient options.