The expense of hiring, training, and onboarding a new employee who turns out to be a poor candidate could be equivalent to 50% of that person’s first year’s salary.
According to Anastasiia Kuzmenko, director of talent acquisition at Flyer One Ventures, “the biggest difference between hiring in a healthy economy and hiring now is that there is no room for mistakes.”
Hiring the wrong person can create a cascade of failure within an early-stage startup, so she recommends founders focus on three essential metrics to “take a more data-driven approach:”
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- cost per rental
- time to hire
- Employee turnover rate
In his article, Kuzmenko shares formulas for calculating each metric, along with tactical tips for benchmarking and helping managers stay in tune with employee morale.
Thank you for reading,
walter thompson
Editorial Manager, TechCrunch+
@yourprotagonist
How to Build a Sales Development Rep Strategy That Fills Your B2B Pipeline
Image Credits: campe patisena (Opens in a new window) / Fake Images
Marketing teams deserve all the credit for creating innovative campaigns that cut through the noise – convincing someone to try a new product or service takes a lot of skill!
However, in practice, Sales Development Representatives (SDRs) do most of the work needed to get new customers, “cold calling, writing outreach emails, or sending outbound mail.” says GTM strategist Mike Tong.
Because it takes “about 15 touches for a prospect to want to see a demo,” Tong wrote a TC+ guide for CEOs who need guidance on recruiting and incentivizing SDR teams.
“Project generation in early-stage companies is expensive and time-consuming, often more than the sales process itself. That being said, getting it right is probably the most important thing you can do for your business.”
YC winter class is packed with AI companies
Image Credits: fake images
In a move that reminds me of servers at chain restaurants who have been ordered to wear badges, 34% of startups in Y Combinator’s latest class say “they are an AI company or use AI in some way.” manner”. reports Rebecca Szkutak.
“YC companies cannot be blamed for leaning on AI,” he writes. “If you saw VCs pouring dollars, in a tougher fundraising market, no less, into a technology like AI that you could implement in your own business, why wouldn’t you?”
6 VCs Explain Why Embedded Insurance Isn’t the Only Big Opportunity in Insurtech
Image Credits: Light source (Opens in a new window) / Shutterstock (Opens in a new window)
Now that consumers can hedge their bets against everything from canceled flights to dropping a new cell phone, integrated insurance is having its moment.
Even so, several venture capitalists who are active in the space told Anna Helm that other insurtech startups can still move forward if they “can build a sustainable business model.”
For our latest investor survey, we asked the following investors about where the industry is headed, whether ChatGPT could impact the industry, and how Apple’s potential foray into health insurance is shaping their thinking:
- Florian Graillot, founding partner, astorya.vc
- Hélène Falchier, Partner, Portage
- Stephen Brittain and Robert Lumley, Directors and Co-Founders, Insurtech Gateway
- Nina Mayer, Principal, Earlybird
- David Wechsler, Principal Insurtech Investor, OMERS Ventures
Launchpad Teardown: Northspyre’s $25 Million Series B Platform
Image Credits: northern spire (Opens in a new window)
Last month, high-tech startup Northspyre raised a $25 million Series B led by Charles River Ventures.
The firm, which helps developers manage commercial real estate projects, shared its winning presentation with Haje Jan Kamps after he “removed some of the most financially sensitive slides:”
- deck slide
- Problem slide 1
- Problem slide 2
- product slide
- Market Size Slide
- solution slide
- Value Proposition Slide
- KPI slide (marked as “financial” slide)
- Slide “The question”
- team slide
- User Testimonials Slide
- Funding History Slide
- thank you and contact slide
Ask Sophie: What to do if I am selected/unselected in the H-1B lottery?
Image Credits: Bryce Durbin/TechCrunch
Dear Sophie,
After three tries, I was finally selected this year in the H-1B lottery! What do we do next?
— Winner wondering
Dear Sophie,
I’m in STEM OPT. My employer put me in this year’s H-1B lottery for the third time, but I was never selected again! What should I do?
— Lottery loser
