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The cost of recruiting, training, and on-boarding a poorly performing new employee can be as much as 50% of the individual’s first year’s salary.
According to Anastasia Kuzmenko, Head of Talent Acquisition at Flyer One Ventures, “The biggest difference between hiring in a healthy economy and hiring now is that there is no room for mistakes.
Hiring the wrong person can lead to many failures in a startup, which is why she advises founders to focus on three critical metrics to “take a more data-driven approach.”
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- Cost per hire
- Time to hire
- Employee turnover rate
In her article, Kuzmenko shares formulas for calculating each metric, along with tactical tips for setting metrics and helping managers align with employee morale.
Thank you for reading
Walter Thompson
Editorial Manager, TechCrunch+
@your main actor
How to build a sales rep strategy that fills your B2B pipeline
Image Credits: campee patisena (Opens in a new window) / Getty Images
Marketing teams deserve credit for creating creative campaigns that cut through the noise: persuading someone to try a new product or service takes real skill!
In practice, however, sales development representatives (SDRs) do most of the work required to generate new customers, “whether it’s making cold calls, writing email addresses or sending outbound letters,” says GTM strategist Mike Tong.
Because it takes “15 touches to see a demo,” Tong developed the TC+ Guide for CEOs who need guidance on hiring and motivating SDR teams.
“Building a pipeline in early-stage companies is expensive and time-consuming, often more than the sales process. That said, getting it right may be the most important thing you can do for your business.”
YC’s summer class is buzzing with AI companies.
Image Credits: Getty Images
Reminds me of servers at chain restaurants who are mandated to wear flyer pins, and 34% of startups in Y Combinator’s latest class say they are either “an AI company or using AI in some way.” Rebecca Szkutak reports.
“You can’t blame YC companies for leaning towards AI,” she wrote. “If you see VCs throwing dollars — in a strong fundraising market, without much of a dent — into a technology like AI that you can apply to your business, why wouldn’t you?”
6 VCs explain why embedded insurance isn’t the only hot opportunity in insurance
Image Credits: Light source (Opens in a new window) / Shutterstock (Opens in a new window)
Now that consumers are against betting on everything from canceled flights to throwing away a new cell phone, bundled insurance is gaining momentum.
Still, several VCs active in the space told Anna Heim that other insurance startups could still take off if they “can build a sustainable business model.”
For our new investor survey, she asked the following investors about where the sector is headed, whether ChatGPT could impact the industry, and how Apple’s potential entry into health insurance is shaping their thinking.
- Florian Graillot, Founding Partner, astorya.vc
- Hélène Falchier, Partner, Portage
- Stephen Brittain and Robert Lumley, Directors and Co-Founders, Insurtech Gateway
- Nina Mayer, Principal, Earlybird
- David Wechler, lead insurance investor, OMERS Ventures
Pitch Deck Teardown: Northspyre’s $25 million Series B pitch
Image Credits: Northspyre (Opens in a new window)
Last month, proptech startup Northspire raised a $25 million Series B round led by Charles River Ventures.
The company, which helps developers manage commercial real estate projects, shared the winning pitch with Haje Jan Kamps after “removing a few financial-related slides.”
- Cover slide
- Problem Slide 1
- Problem Slide 2
- Product slide
- Market size slide
- The solution slider
- Value proposition slide
- KPI slide (labeled “financial” slide)
- “The question” slide
- Group slide
- User credentials slide
- Financial history slide
- Thank you and contact the slide
Ask Sophie: What to do if selected/not selected in the H-1B lottery?
Image Credits: Bryce Durbin / TechCrunch
Dear Sophie,
After three attempts, I was finally selected in the H-1B lottery this year! What do we do next?
– Amazing winner
Dear Sophie,
I am on STEM OPT. My employer placed me in the H-1B lottery for the third time this year, but I was not selected again! what can i do?
– Lottery loser
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