There’s a lot of talent on the move right now.
So it’s a great time to lean into helping your portfolio companies:
Close their top candidates, faster.
Here are a few things that your companies probably are not doing yet when it comes to closing top candidates.
Using 1, 2 …
… or all 3 of these:
Can put your portco in a position to win.
1) Have portcos explain to candidates how stock options actually work.
By:
- Debunking the myth that the # of options matters
- Giving them comparables from sources like AngelList Talent
- Pointing them at helpful tax and financial planning resources
2) Get your portcos comfy with Try-and-Buys.
Making a bad hire sucks for all involved.
Yet:
The only way a company will know if a hire will work out …
… is by making the hire!
So, encourage your companies to do just that.
They should give finalists for any position a trial run:
Part time, and paid.
Break off a piece of work the candidate can handle relatively autonomously.
And see what they produce.
How they communicate.
The way they work.
Without the candidate having to quit their job.
Oh:
Here’s how one wildly successful startup has run (FOR YEARS) these try-and-buys.
3) Have the company walk the candidate through the last board deck.
I can’t think of a better way to show a candidate that the company trusts them, well before they walk in the door.
True, maybe there’s some stuff in that deck that doesn’t scream “future unicorn.”
But hey, this is startupland.
Nothing is perfect.
Most candidates will understand — and appreciate that.
Plus:
It’s better for the company to get in front of that conversation now …
… than 2 weeks into the candidate’s stint.
