Taking data-driven decisions: ROI for hiring options
Data insight is how VCs evaluate the investment opportunities, how Founders decide what niche to focus on, and how product leads decide what features see the light of the day. It is with the help of data, rather than the gut feeling, that we achieve the PMF and reach viable products users care about. And yet, such an approach is not often observed in a time-intensive and critical field of recruitment.
If we decide our VC thesis or DoD for features based on careful evaluation of probabilities, scoping exercises, planning sessions, and distribution of resources, why can't we do the same when evaluating the hiring options for scaling the team or even for 1 senior hire?
For startups who raised seed and onwards the decision is between the 3 main strategies:
Hire with internal resources
Engage a retained search partner
Adopt a Spray & Pray approach
The detailed ROI calculation for each approach and the considerations to be taken into account are covered in the video.
