Talent Scarcity in the Startup World - Lauga Oskarsdottir - Partner at Firda
Lauga Oskarsdottir
Lauga Oskarsdottir is a many-sided professional with experience as an entrepreneur, technology investor, board member and a former incubator manager for Startuplab in Oslo Science Park. She has firsthand experience with the challenges of the early stages of a startup and a deep passion for assisting entrepreneurs on their journeys.
Finding the right employees and having the funds to hire the right expertise when needed is a big challenge for many startup companies. What would you say could be a reason to work with a professional recruiter in a startup phase?
There are a few reasons why it may make sense to involve a professional recruiter in the early days of your venture:
- If you have exhausted your core network for the early hires and as a result are running out of A-player candidates for your upcoming hires
- If you are hiring for a highly specialized role with a limited number of potential candidates
- If you are extremely pressed on time and can afford to hire help to speed up the hiring process
Many start-ups have ambitious goals and rapid growth. What are the biggest challenges in recruiting for a startup?
Access to talent is a key challenge for startups all over the world, but especially in a small country like Norway. In senior roles you want people who have been part of growth journeys before, and that talent pool is scarce and the competition is fierce. For more junior roles you are competing with large companies and consulting firms with cushy benefits and salaries.
The competition among companies for skilled employees is intense. What do you think attracts job seekers to startups instead of larger established companies?
The extreme learning curve in startups is attractive for highly ambitious and chronically curious people. You get a lot of responsibility from day one in a startup, and you directly influence both the strategic and day-to-day direction of the company.
In what way does a competent recruitment partner create value for their customers?
For a startup, it is primarily two things:
Speed of execution and ensuring momentum in the process. This is especially important for a startup, as the ability to move fast is a critical component of success in the early days. Recruiting requires focus and effort, which takes away just that from product- and commercial development. However if you don't prioritize recruitment, you eventually fall behind on product- and commercial development.
Obtaining quality candidates that are outside of your network. This important not just to ensure quality in hiring but also to strengthen diversity, as core networks can have a tendency to be somewhat homogenous.
To ensure that the people you hire fit into the team, many companies have strong core values statements. In addition to this, what are your three most important things to have in mind before investing in a recruitment partner?
It is not a quick fix. In order to succeed you still need to own the process, be diligent in the prep work and ensure that the team is aligned and involved in the hiring process.
Be thorough in defining the job description and advert beforehand, and understand in what areas you may need to compromise.
Prepare a short list of ideal candidates (regardless if they are available/obtainable). It helps you and the recruiter understand where the bar lies.
Last but not least. According to you, what are the most important things to evaluate after a recruitment process?
The prep-work. There is often a lot of valuable learning in the preparation before the interview process, that can improve the next hiring process. The clearer you are about what role and responsibilities you need to fill, the more you set yourself up for success.
The interview process. What did we learn? Where are we unclear? Are there steps we should add or eliminate? What can be improved to ensure clearer and more effective communication with our next hire?