Name: Hiring Strategy - Building a Successful Roadmap
Uploaded: 2023-11-09T10:02:45.397Z
Duration: 198.32
Description: Our FinTech Founders mini series explores various aspects on Hiring Strategy and how to build a successful roadmap for a long term vision. This brief video features first-hand learnings and insights from fintech entrepreneurs and founders including Kathleen Craig, Plinqit; Chase Neinken, Chimney; Michael Duncan, Bankjoy; Ned Palmer, Panacea Financial; and Karan Jain, NayaOne.

FF8 HIRING STRATEGY.mp4

FF8 HIRING STRATEGY.vtt

ENGLISH

{{00:00:00}}
You know,

{{00:00:09}}
I think that doing group interviews
and going deep and wide in your

{{00:00:12}}
organization as big as you are, we're
only 20 people, so it's not that

{{00:00:16}}
many, but I think the more opinions
and voices you can get, the better.

{{00:00:20}}
There have been times that my top
candidate was not my team's top

{{00:00:24}}
candidate, and they have been right.

{{00:00:26}}
right?

{{00:00:26}}
And I've gone with the group and
their experience and their knowledge

{{00:00:29}}
and their perception from interviews.

{{00:00:31}}
And it's helped us make
the right decision, right?

{{00:00:34}}
Having more voices at the table.

{{00:00:36}}
So in terms of timing, when you think
about growth, depending upon your

{{00:00:40}}
business and your sales cycle and
the industry that you're in it's not

{{00:00:44}}
the today you need to worry about.

{{00:00:45}}
It's the six months, the
12 months, the 18 months.

{{00:00:48}}
So I think a lot of Founders and early
startups get the hiring process wrong.

{{00:00:54}}
And what I mean when I say that is
they don't look at the time it actually

{{00:00:57}}
takes to get an employee fully ramped.

{{00:00:59}}
You look at a salesperson, for
example, your sales cycle is six to

{{00:01:02}}
nine months, and you're looking to
hire somebody now for next quarter,

{{00:01:05}}
that's just not going to work.

{{00:01:07}}
You're going to be missing quota,
you're going to be frustrated with

{{00:01:09}}
their output when really you just
set them up in a poor position.

{{00:01:13}}
So startups that move really quickly
and need that versatility oftentimes

{{00:01:17}}
don't have the foresight to look all
the way into the next 12 and 18 months.

{{00:01:22}}
But as a strategic leader,
it's important to think about

{{00:01:25}}
what those scenarios might be.

{{00:01:27}}
So you have a plan in place.

{{00:01:29}}
Yeah.

{{00:01:30}}
Again it just comes
down to a strategy and.

{{00:01:34}}
Long term goals and just ensuring that the
way you're building out your organization

{{00:01:39}}
is helping, or is aligning with helping
the company achieve those longer term

{{00:01:44}}
goals and short term goals you set.

{{00:01:47}}
Adding new roles or divisions within
the organization is frankly something

{{00:01:51}}
that we talk about constantly.

{{00:01:55}}
We have a strategic growth timeline
that we look at year over year and

{{00:02:00}}
even over our next five year plan.

{{00:02:02}}
And we know that within that, there's
multiple different divisions, people,

{{00:02:06}}
positions, specialists, things
that we'll need to be bringing on.

{{00:02:10}}
Taking our strategic long term vision,
we then overlap it with a near term

{{00:02:14}}
timeline and roadmap, and try to figure
out the best intersection of the two.

{{00:02:18}}
Of who's the next best hire, or
who's the next best team to bring on.

{{00:02:23}}
To make sure that we're still on
track to be hitting those strategic

{{00:02:25}}
goals and aims for the organization.

{{00:02:29}}
Yeah, great question.

{{00:02:30}}
Ideally, six months before you need it.

{{00:02:33}}
Because by the time you find the
right person, you go through the

{{00:02:37}}
hiring process and you actually
get them started and ramped up.

{{00:02:41}}
Even in a fast moving startup world
it can take somewhere between three

{{00:02:45}}
to six months to have that person in
that seat functioning appropriately.

{{00:02:51}}
Or where you need them to be.

{{00:02:54}}
I think it comes down to having
your numbers, your KPIs, having your

{{00:03:00}}
strategy, seeing the leading as well
as lagging indicators to go, okay,

{{00:03:04}}
where you need certain people and
actually acting on that six months

{{00:03:08}}
before that is is, how we do it.

I think that doing group interviews
and going deep and wide in your

organization as big as you are, we're
only 20 people, so it's not that

many, but I think the more opinions
and voices you can get, the better.

There have been times that my top
candidate was not my team's top

And I've gone with the group and
their experience and their knowledge

And it's helped us make
the right decision, right?

So in terms of timing, when you think
about growth, depending upon your

business and your sales cycle and
the industry that you're in it's not

It's the six months, the
12 months, the 18 months.

So I think a lot of Founders and early
startups get the hiring process wrong.

And what I mean when I say that is
they don't look at the time it actually

You look at a salesperson, for
example, your sales cycle is six to

nine months, and you're looking to
hire somebody now for next quarter,

You're going to be missing quota,
you're going to be frustrated with

their output when really you just
set them up in a poor position.

So startups that move really quickly
and need that versatility oftentimes

don't have the foresight to look all
the way into the next 12 and 18 months.

But as a strategic leader,
it's important to think about

Again it just comes
down to a strategy and.

Long term goals and just ensuring that the
way you're building out your organization

is helping, or is aligning with helping
the company achieve those longer term

Adding new roles or divisions within
the organization is frankly something

We have a strategic growth timeline
that we look at year over year and

And we know that within that, there's
multiple different divisions, people,

positions, specialists, things
that we'll need to be bringing on.

Taking our strategic long term vision,
we then overlap it with a near term

timeline and roadmap, and try to figure
out the best intersection of the two.

Of who's the next best hire, or
who's the next best team to bring on.

To make sure that we're still on
track to be hitting those strategic

Because by the time you find the
right person, you go through the

hiring process and you actually
get them started and ramped up.

Even in a fast moving startup world
it can take somewhere between three

to six months to have that person in
that seat functioning appropriately.

I think it comes down to having
your numbers, your KPIs, having your

strategy, seeing the leading as well
as lagging indicators to go, okay,

where you need certain people and
actually acting on that six months

Fintech Founders

Expert Insight

Our FinTech Founders mini series explores various aspects on Hiring Strategy and how to build a successful roadmap for a long term vision.


This brief video features first-hand learnings and insights from fintech entrepreneurs and founders including Kathleen Craig, Plinqit; Chase Neinken, Chimney; Michael Duncan, Bankjoy; Ned Palmer, Panacea Financial; and Karan Jain, NayaOne.