Startups are the Hot New Employers But It Can Be Hard to Figure Out Which One to Join.
Startup Hiring Patterns are Changing. As Over Heated Consumer Focused Segments like E-commerce and Hyperlocal Services Slow Down, they are Hiring Fewer People. But in Segments that Cater to Businesses, There is Still A Strong Hiring Trend, According to Data from A Number of Hiring Companies.
Hi Everyone Today We will Talk About How to Pick the Best Startup to Work For.
Here We Have Disclosed 6 Tests U Should Take At Your Company Before Joining
Do they Have Enough Money in the Bank?
Companies Generally Raise Funds Every 18 to 24 Months. Ask them About their Financing Plans & Current Cash Position. They Probably Won’t Give You Exact Figures, But You Should Get A Sense of How Solid they are by the Quality of the Answer You Get.
Who Are the Investors/VCs?
When a Company Says It is VC Backed, Find Out Who the Investors are. Have they Invested in Winners Before? Is it Backed by the Best VCs? Who is On the Board of the Company? Here is a Power Ranking in which VCs Rate their Fellow VCs
- Accel Partners
- Greylock Partners
- Andreessen Horowitz
- Union Square Ventures
Is the Market they’re Targeting Large Enough?
If it’s Targeting a Market Worth $100 Million, and they Manage to Capture 20%, It Means the Startup Will be A $20 Million Revenue Business. In the VC World, that is Rarely Big Enough to Provide an Exit. In Other Words, Your Startup Needs to be Aiming Big
Is the Market/Industry Still Hot?
Sentiment About A Market/Industry is Important if You are Joining a VC Backed Firm that is Burning Money (When Expenses Exceed Revenues). Startups in Internet Of Things (IOT), CHATBOT’s and Artificial Intelligence (AI) are Currently Trending
Track the Social Media Chatter and Trends.
Since these are Private Startups, Financial Results are Difficult to Come by, So Use Social Media Chatter and Trends to Get A Sense of Whether Things are Going Well. Is Website Traffic Growing? How About Social Media Chatter? Is the Company in the Headlines?
Are they Out Funded by A Competitor?
If the Startup is Out Funded by A Competitor, Look at How Competitors Fare On These Tests. Just Because A Firm is Out Funded, It Doesn’t Mean It’s Not Worth Joining. But if Competitors Do Better, It’s Worth Asking If Your Company Has A Shot at Winning
Above are A Few Parameters to Weigh Before Picking A Job.
It Works For VC Backed Tech Startups in the Early to Mid Stage and Not for Unicorns.
Hiring Dips At Consumer Startups
Strong Growth In Intake At Ventures That Cater To Businesses
November 2015 to April 2016, Number of Joining in E-commerce Companies Reduced by 61% Compared to the 6 Month Period Prior to that, Finds Talent Acquisition Solutions Company Belong. The Platform, Which Works with Over 70 Major Companies Including Snapdeal, Flipkart, Ola, Practo, Freshdesk, Razorpay, and Directi, Tracks Candidates’ Movements Across Different Hiring Stages for Each Company.
Recruitment Assessment Company Mettl has Also Noticed A Similar Trend for Consumer Focused Firms. Mettl Said A Daily Deals Startup with Monthly Traffic of 1.8 Million Hasn’t Recruited for Any Role Since January. Till then, the Venture did Between 100 and 900 Candidate Assessments Per Month.
It’s Different For B2B (Business-to-Business) Ventures. In the First Half of 2015, the Assessments Done by 16 B2B Companies Remained Under 350 Per Month, But It Increased this Year.
Aneesh Reddy of Bengaluru Based Capillary Technologies, A Venture that Provides Cloud Software Solutions to Other Businesses, Agrees with the B2B Trend. Over the Past 6 Months, the Company has Recruited Over 200 Employees for its Bengaluru and Hyderabad Offices. “We are Getting Better Talent Now. People Want to Join Stable Companies,” He said.
Sanjoe Thomas, Founder of Online Video Interview Startup Talview, Attributes the Difference In Trends Between B2C and B2B Partly to the Fact that Pure B2B Companies Do Not Have a Labour Intensive Model.