Archive for ‘News’

February 25, 2010

Startup Hiring Mistakes

I was reading QuickSprout one of my GOTO start-up blogs last night and this post really hit home. Are you Making These Mistakes?

Neil Patel asks 10 successful entrepreneurs who have all created companies that are worth at least 50 million dollars, what their biggest business mistake was.

Half of the ten named a hiring related issue as their biggest problem.

If you feel you need information to emphasize the crucial importance of effective recruiting, look no further. Hiring is important for all companies, but for start-up companies it is the bedrock that will determine the success or failure of your endeavor. One mistake with a core team hire can throw the company into a death spiral from which it may not recover. The other take away from this advice is that once you identify a hiring mistake, you must correct it quickly or risk further damage.

“wrong hiring standards in certain parts of our company. We focused too much on specific skills, and too little on fundamental abilities, raw talent, and passion”

“The biggest mistakes are always bad hires.”

“My biggest mistake has been hiring the wrong people.”

“not taking fast corrective action in dealing with a bad hire.”

“The biggest mistake I’ve made have been with hiring the wrong people. I think if you add everything up, including the cost of bad decisions, additional bad hires made by the original bad hire, and missed opportunity costs, bad hires have cost Zappos over $100 million.”

Read the blog post to see who said what.

The best advice when building your team is to err on the side of caution. If you have any doubts about someone, don’t hire them. Wait for the right candidate to come along.

To do this effectively, you must be recruiting at all times and use a lot of sources (including recruiters). It costs you nothing to see candidates from recruiters and if the candidate presented by the recruiter is the “right” one and beats those provided by your other sources, hire them.  Too much emphasis is placed on cost per hire and you should be focused on quality of hire. Each good engineer is considered to be worth $ 1 Million in an acquisition (not even considering their output) so whatever it costs you to bring a great candidate on board is well worth it.

January 6, 2010

New Feature: talentGraphz Job agent emails jobs filtered by your criteria

We have just added the capability for our registered users to receive a weekly email of the newest job postings. You can set up the filtering based on Position Category, Industry, Company Stage as well as keep a very tight screen if you only want to passively view jobs from companies in your network.

You can set up to receive the email and manage the criteria from your Profile page.

If you aren’t registered, it only takes a minute to Signup with an email address and enter your company history. talentGraphz offers total anonymity and none of your information is available to any company or individual. We are not like some other professional networking sites where it feels like you have joined a hunting preserve and you are the prey.

Let us know what you think. Right now talentGraphz only covers the Boston Emerging Technology market, but we have plans to expand to other geographies in 2010.

December 2, 2009

If Your Company is Not Growing in 2010, You will be Hiring

empty office
Huh? Let me explain.

According to this Annual Study From Robert Half International and CareerBuilder Provides Preview of Post-Recession Job Market

55%  of employees polled plan to make a career change or go back to school when the economy recovers.

This means companies will be hiring next year as the people that were hunkered down waiting out the downturn move to the companies hiring for growth,  and the less attractive companies will be hiring to replace attrition.

Either way, companies should be preparing to scour their talent pools for those receptive to considering a move.

In the survey, forty-seven percent of hiring managers cited under-qualified applicants as their most common hiring challenge, followed by the reluctance of qualified candidates to leave secure positions (22 percent).

What we will see is an even greater discrepancy as things pick up,  between the companies doing well and the ones not so fortunate. For the more attractive opportunities, the percentage of qualified candidates will go up along withl the competition for them,  as people initiate the job change they have been contemplating for six months. The good candidates that are on the street will be quickly absorbed when the market turns. Thus leaving the less attractive companies that are backfilling attrition with an even harder task of finding qualified candidates.

The message here is clear, start making preparations to address your hiring needs for 2010.

Do you really need that 7 page form from your ATS vendor? Don’t you kinda have to be desperate to fill that out in the first place? You might want to rethink a process that is so laborious.

Do you want to continue to advertise on job boards or will the newer trend toward Pay for Performance  make more sense for you?

How are you leveraging your employee networks to reach candidates with a higher probability of a match?

Whatever means and tools you have in your satchel, dust them off and get ahead of the game.

Do you think this survey reflects conditions in your market? let us know…

December 2, 2009

Thanks to Our Sponsors of the Eric Ries Talk @MIT

Eric Ries came to Boston for a talk at MIT on Nov 19th. Approximately 250 attendees came to see Eric and learn about the Lean Startup methodology.

We would like to thank the organizations that made this possible, and in doing so, demonstrated their commitment to start-ups and the innovation economy here in Boston.

Hosted By

100k logo

Platinum Sponsor

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from Polaris Venture Partners

Gold Sponsors

Hubspot logo

nerdlogo

atlas logo

AV Sponsor

Common Angels Logo

Atlas Venture hosted a mixer afterward that was attended by many in the start-up community.  The free beer and appetizers went quickly. Eric Ries was kind enough to come and meet the audience and hang out for a while.

Many thanks to Eric for making the trip to Boston, which we hope will be the first of many.

August 16, 2009

Genotrope Gets Some Ink

mht

We were pleased to see Genotrope receive some positive press in a recent Mass High Tech article.

Hiring strategies shift toward social media

We have been watching the number of positions available at start-ups creep up by about 100 every week for the past month and a half, indicating the end of job depletion and the beginning of a return normalcy.

Our timing might be right on the money for a change. We just introduced the new job posting functionality for companies and user ability to find jobs at companies within their professional graph, as hiring increases but the need to keep costs low is still high priority.

August 10, 2009

Genotrope a Featured Company for Virtual Min August 12th

Genotrope is a featured company at the upcoming Mass Innovation Night because our focus is Boston area emerging technology companies and entrepreneurs. One of our main features is a database of Communications, Computer, Software and Web companies presented in a Genealogical fashion. The other is a Directory of Boston Venture Capital companies. Both have proven very popular with our users.

Here is a bit about our concept.

The Genotropic approach to recruiting. geno- : genus : kind kin : a group united by a common interest or common characteristics or affinity tro-pism : a natural inclination Simply put, companies are comprised of individuals that share some common traits, goals and backgrounds. They have been attracted to their companies because of these affinities and will be inclined to move to the next company that offers them a similarly comfortable environment.

We hope to improve on the current offerings in the online job market, with an Affinity Job Search tool that focuses on matching you with companies rather than jobs. Matching culture and fit rather than buzzwords.

Community contributions will at some point overtake our editors valiant efforts to populate the company database. When that happens, we will have a micro-chunkable database of much value to the users. Stay Tuned.

March 25, 2009

Register Company New Feature

Now it is possible to register your company in Genotrope. Once registered, your company administrator is now the only one able to add or update information to your company page.

Registration if free and allows companies to more actively target potential candidates. We currently offer sponsorship of our home page, VC Directory and blog.

In the future we will introduce a subscription model which will include job postings.

The Talent Target page shows the list of companies connected to yours through our graphing algorithm. Users with these companies in their work history will be updated with your company’s news and jobs and receive a feed of this information.

The Hiring Target section allows your company to reach users at competitors or companies deemed to have quality potential candidates that are not in your Company’s Graph. Once added users with these companies in their work history will be updated and able to view your companies news and jobs and receive a feed of this information.

Make sure to frequently add Press or news announcements as well as jobs from your website. This will maintain a steady stream of information going out to your targeted talent pool.  Add your career or job page to these links. Use the title Careers, and the link will always appear at the top of the list. Otherwise entries are in  chronological order.

March 25, 2009

Search by Location New Feature addition

We are pleased to announce that now you can filter Companies by proximity to your location on your Find Jobs page.  The default zipcode is taken from your profile.

We have also added the ability to filter by Industry and Investment status on both the MyGraph and Browsing lists. That is the good news.

The bad news is that not all companies have address information in their records. We are working hard to populate that information. Please lend a helping hand and add company address info for your company as well as when you are browsing around the database.

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December 11, 2008

Web Innovators 20 was a great event

We had a good time and met some great people at the premier networking event in Boston for web startups.

Web Innovators Group has grown from a small gathering in 2005, of a few entrepreneurs in a bar to the large event it is today. Around 700 people attended last tuesdays WebInno 20 event.

The line up of companies was stellar, and we were fortunate to be a part of the group.

Thanks to David Beisel of Venrock for including Genotrope as a sidedish presenter.

October 7, 2008

New Features for October 2008

We heard from our users that hadn’t yet worked at a funded or connected startup that the Find Jobs page was less than fulfilling. Thanks to you guys for the feedback.

Check out the Find Jobs page and you will see that in addition to the companies in your greeniconbuttonmygraphMyGraph listing showing companies connected to your work history, we have added a greeniconbuttonbrowsebrowsing feature. When browsing, users can filter companies by Industry as well as Funding Status. This feature lets you go beyond your professional network to slice and dice the market and view only the sectors and stages you want to see. As you view the list, the MyGraph icon lets you know when that company is in your graph.

Another cool feature we have added is the detail window to the right where a short company summary will appear, as you mouse over a company of interest.

Now it is much easier to compile a list of interesting companies and apply to each directly.

Let us know what you think.