With venture capital washing around the globe in search of the next-big-thing, hot, fast-growing startups are getting intense media attention and hitting Unicorn status at an unprecedented pace. This means that talented employees have their pick of companies in which to invest their time and focus. The fight to find, lure and retain top talent is fiercer than ever, so it’s essential that CEOs and their managers cultivate the right skills and capabilities to recruit and keep extraordinary talent.
The best predictor of a fast-growing startup’s success: the ability of the CEO to recruit talented colleagues with whom he or she has successfully worked with on other startups and to identify candidates whose experience brings added management depth and whose networks open up access to new top talent.
Even more, the CEO and management must devise more meaningful employee benefits, and compensation isn’t always the answer. More and more CEOs are looking at ways to enrich their employees’ lives and those of their families, from helping them pay down their student debt to paying for their employees’ children’s education expenses.
Top CEOs and VCs talk about the changing nature of talent recruitment; what tools and processes they use to supplement their personal recruiting efforts and what factors beyond compensation are most important to counter stiff competition for talent.