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Carta's recent release of 2023 hiring and departure/layoff numbers for startups has brought some sobering news. More employees left startups in 2023 than joined. However, the datapoint that caught everyones attention was that 2023 hiring was down from 2019 (-4%) and 2020 (-6%) numbers. In response, we looked back at the raw number of executive hires and then looked at them via distribution of executive hires by seniority level. The data shows that while there were more executive hires in 2023 than in 2020, the hires were more senior. In fact, C-level hires made up 42% of all closed searches in the dataset, compared to just 32% in 2019. These findings suggest that while startup hiring may have been at a historic low, the percentage of those hires being executives appears to be at historic highs. It's worth keeping an eye on how this trend continues in the future.

New research by tax consultancy RSM UK found that last year, the number of gaming startups in the UK increased by 22%, up to 2,450 from 2,008 in 2022. This increase has been attributed to a number of factors, from AI enabling easier access to technology, to layoffs in 2022 from larger companies inspiring start-ups to form. If you're in the startup sector, and looking to grow this year after getting started last year, hire the team you need with Lab Nineteen. Hiring for tech roles within startups is one of our specialities, so get in touch at [email protected] #Tech #Startup #Recruitment #Hiring #GamingTech

In the last 14 days, 6 candidates have been hired off tofu 🚀 👩🏻💻 Engineers from Tbilisi, Georgia and Bangalore, India are moving to Berlin to start a new chapter in their career. 👨🏼💻 A developer in the Bay Area from high flying #SeriesD company is joining a top #AIstartup. 🏷️ An AE in London is starting with a hyper growth geospatial #SaaS #startup; another in the US joining a $50M+ #SeriesA #fintech. 👩🎨 A designer is joining a #B2BSaaS #startup that just raised a big round of funding. ⚙️ A BizOps candidate is joining a $25M #SeriesA #B2BSaaS. This is the power of a network with 260 #VC-backed startups sharing talent. Our network underpins everything we do. Which is why we've integrated it into our new #AIApplicantRanking product. tofu will let you: * Create custom applicant ranking models based on your hiring patterns to find the best candidates; AND * Add pre-vetted candidates to your shortlist from our marketplace, who have passed coding challenges and case studies. It is bias free. You'll save 1.5 hours per 50 applications in App Review. You get signal on who the best candidates are. Message me to learn more. I'll buy you a virtual coffee, demo the product and we can jam on how to solve your recruiting ops problems!

With the hype and over valuations 💲 of the Tech industry in the distant past, we are in the midst of a readjustment process ⚖. We’re beyond the ‘React’ phase of change and are firmly in the ‘Reflect’ phase, one that is likely to take another year or two to settle, eagerly anticipating the coveted ‘Rebound’ phase. 📈 But what does that mean? 🤷♂️ Funds are at an all-time low as well as actual money available to invest, so every man and his dog 🐕 are all about capital efficiency and sightline to profitability. 💰 💷 Most businesses have been predicated on fast growth and availability of capital, so with both stalling many are now stuck with a painful reconfiguration 🚑. I fear we are still set to witness more rounds of redundancies (although less than we have been seeing) and more companies entering administration to come... Those that have invested all the money and taken all the dilution don’t have many options left ⛽. This will encourage more acquihires (at pennies to the pound), streamlining the recruitment process for those that have weathered the storm and can see beyond the next 12 months. But it’s not all doom and gloom 😀, hiring seems to be on the up ⬆, specifically sales and presales roles demonstrating optimism in the market conditions and an intent to capitalise on an improving market. Internal TA hiring appears to be on the up too (finally), which again demonstrates an appetite to start entering growth phases with hiring again, albeit somewhat muted compared to the highs of 2021. I think a burst of Tech hiring is soon to follow 🤞🏻. While headcount approvals remaining limited👪, we’ve seen an increase in contract vacancies, as companies are allocating funds to various projects, leveraging alternative cost centres to overcome fixed cost and headcount constraints 💡. Ultimately, I think the worst is behind us. Or that’s what I tell myself to get to sleep at night 🛌 💤. I would welcome other people’s interpretation/insights of the current market though? #uktechscene #recruimtent #revolutiontechnology #revtech #startup #scaleup #ai #venturecapital #vc

The average cost of a bad developer hire is beyond $450,000+. (DevSkiller) Recruitment expenses, onboarding, salary, and lost productivity. All adds up. But it's not even just about the financial loss. → Decreased team morale → Missed market opportunities → Delays in product development → Wasted time on hiring and replacement → Poor code quality leading to future issues But let's be honest, you can avoid that. You just need an expert team that has technical and cultural relevance. I've seen this first-hand, which is why I've started staff augmentation services. I connect startups in the EU & UK, US, Canada, and Gulf markets with culturally-fit, expert tech talent. On-demand. → no HR costs → no legal trouble → all the paperwork done by us → scale up or down as needed → hire as soon as tomorrow You just focus on growth and actually building. It cannot get easier than this. DM me for a more personalized consultation on this and how I can help your startup scale.

As interest rates are predicted to come down 2 more times this year, I’m hoping we'll see a significant uptick in hiring. Lower interest rates = companies have easier access to funding = more startups + big company projects with more risk tolerance = more hiring Companies get more access to funding because they can borrow at lower rates, and returns on less risky investments (e.g. bonds) go down, so investors look elsewhere (like startups & stocks). #jobs #hiring #softwareengineer #techindustry

The recent research conducted by Mobilunity surveyed senior decision-makers across UK startups, scaleups and enterprise businesses industry-wide. Key findings revealed that applications for technical roles are healthy – with firms across the board receiving an average of 15 applications per role, with startups topping the average at 18 per role. But despite this, the process to filter relevant candidates and validate skills is failing – 34% of decision-makers reveal they do not have a separate recruitment process for technical hires. Since 2010, we have provided high-quality augmentation services, matching the greatest talents with businesses worldwide. And from our experience, we know for sure — proper recruiting is crucial✅ Dive deeper in Cyril Samovskiy article on Employer News - HR and Business News for UK Employers portal. Find the link in the comments below📌

On Friday, Peter Walker shared one of the most interesting data points I've seen during the past two years: 𝗚𝗿𝗼𝘄𝘁𝗵 𝗶𝗻 𝗻𝗲𝘁 𝗵𝗲𝗮𝗱𝗰𝗼𝘂𝗻𝘁 𝗼𝘃𝗲𝗿 𝘁𝗶𝗺𝗲: (VC-backed startups.) • 2019-2020 (24 months): up 284,000 • 2021-2022 (24 months): up 582,000 • 2023-2024 (20 months): up 11,000 During the past 2 years, startup hiring has declined by over 98%. Granted, the numbers from 2019-2020 were a more accurate representation of an average year for startup hiring compared to the frenzy of the 24 months that followed, but it quantifies a stark representation of recent market conditions nonetheless. Amidst the brimming potential of M&A activity and the IPO markets, along with a lending environment that will enable greater access to working capital, the analysis of the depths of the SaaS Crash will almost certainly mirror what job seekers and hiring managers experienced during the fallout from the dot-com bubble and 2008 financial crisis. The good news is that there is value to be mined from downturns, whether it be in distressed debt, equity investing, real estate, or in this case, hiring. For executives who recognize this opportunity, there has never been a better time to invest in excellent people. We're seeing it firsthand, from independent research firms and boutique investment banks to established public companies like Salesforce, which recently announced its intention to hire 1,000 new employees. One way or the other, the next several months will set the tone for the hiring environment in 2025. Kaleb Albro #fintech #ai #hiring #tech #recruiting #jobsearch #saas #finance #research #jobs #data #trending

Are you a start-up needing to make a crucial early hire into your business? Maybe you're about to experience a period of significant growth and need support finding the right profiles quickly as you build out your team. Whatever your situation, we can help here at Lab Nineteen. We're experts in matching top tech talent with companies operating across the E-Commerce, Finetch and Tech Start-up domain. So, if you could use an extra pair of hands to take the strain off your hiring requirements, get in touch with us to discuss how we can help: [email protected] #ecommerce #FinTech #StartUp #Tech #recruitment #hiring

Two new sets of data show America is supporting a much bigger set of tech hubs than just Silicon Valley, which has for decades ruled global technology. But that hot competition is not hurting the Bay Area. Austin topped the nation in tech job growth rates in both startups and big tech firms (2019-2013). New York City won the biggest set of tech workers who decided to relocate after joining the sector, and Seattle is a strong second place to Silicon Valley for #AI jobs, according to the data from SignalFire, compiled by Asher Bantock. What surprised me is that all that happened without Silicon Valley losing tech jobs overall, even accounting for tens of thousands of layoffs in 2022 and 2023. One in four Bay Area jobs is still in tech, per CompTIA, though the sector now growing slower than in the upstart tech hubs. Read more on Axios