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Participants in an oDesk panel discussion confirmed that startups are on the hunt for talent to fuel growth but do not have the resources to compete with large companies.
The panel, entitled “Talent Wars: How Startups are Fighting Back,” focused on the role of talent to growing startups and the approaches startups use to secure staff. It was held in the San Francisco Bay area on Oct. 10.
Top tips from the discussion:
- “Talent is everything,” but we are experiencing a “nuclear talent war” — in Silicon Valley especially, which has a 20 percent turnover rate.
- Startups are looking for new ways to scale, and many are using online workers to empower their teams (60 to 80 percent of Benchmark Capital’s portfolio).
- “At the end of the day it’s about execution” and finding the right people able to perform the tasks needed.
- Empower your team to make an impact. Not only does this lead to more engaged and productive teams, but it is key for recruiting efforts.
TechCrunch reporter Colleen Taylor moderated the panel, which included Gary Swart, CEO of oDesk; Kevin Harvey, general partner at Benchmark Capital; Rob LaFave, co-founder and CEO of Foodzie; and Sandra Miller, managing director of New Venture Development at Singularity University.