How Web3 companies hire and retain top talents to grow sustainably

Epic Web3 Weekly Newsletter

Oct 17, 2022

Hey there, Web3 builders 🌝

This is the Epic Web3 Newsletter — a weekly dose of best practices & insights from the top industry experts to help you boost Web3 products.

🎉 Hot news: Live session with a Web3 VC is coming up this week

This Friday we’re welcoming Mansoor Madhavji, a Partner at Blockchain Founders Fund which invests in and venture builds top-tier startups (over 100 portfolio companies in total!). Mansoor has supported numerous projects on developing sophisticated economic models, go-to-market & branding strategies.

We’re gonna look behind the scenes and ask him tricky questions about what’s happening in the kitchen. So prepare yourselves to get some insider’s info from a Web3 VC on how to:

— Find and invest in startups;
— Assess risks when investing in startups;
— Not drain fund’s money & ensure ROI;
— And more.

🗓 October 21st, 3 PM (CEST) — we’ll be waiting for you.

👀 Let’s get back to the topic — employees onboarding. In Web3 it is broken, you know why?

— The market lacks talents with fitting skills, so Web3 companies have to hire Web2 specialists.

— The market is rapidly-changing: Web2 candidates struggle to catch up.

— Enterprise Web3 companies waste resources on building typical onboarding processes, but the level of employee involvement remains low.

— Startups don’t know how to onboard talents. They don’t have enough resources to educate employees and immerse them into the market peculiarities.

But how to onboard new hires in Web3 then? We’ve talked about it with Fedor Tormosov, CMO at HUMANS, a personalized Web3 advisory board. And here’s what we found out:

The majority of potential candidates have never used Web3 products. They've never voted in DAOs, minted NFTs, or tried Uniswap. That’s why it has become essential to invite your candidates to try out your Web3 product, thus onboarding them to the technologies.

Think of the Rarible example — they give out tokens to employees to buy and sell NFTs, therefore workers need to try and use the marketplace. Such an interaction gives employees personal involvement into processes and a better understanding of how the product will be used.

But this, Fedor says, doesn’t give candidates a full understanding of Web3 and ecosystems outside the company. So what can be a help — corporate universities, in-house training, mentors or something else? Let’s watch the full presentation to find out.

Watch now

🧑‍💻 You’ve onboarded a talent — what’s next? Community Insights on must-haves for building a strong team in a Web3 product.

According to Margaret Gabriel (Head of People & Talent at CoinFund), a clear mission and vision statement is a must for any company. But that’s what it comes with:

1. Engagement

Are people enjoying the time spent in your company? Do they feel challenged or motivated? Do they fully understand the vision and mission of your company?

Companies with high engagement scores earn 90% more earnings per share. And higher engagement can result in better predictability and profitability.

2. Performance

Individuals perform better when they’re engaged. The workers feel motivated and see the company as a place that can further their career development and growth.

High-performing employees → high-performing teams → a sky-rocketing business.

3. Recruitment

When your company performs well and employees feel proud to be a part of your work environment, great talents are getting interested in you. Your team’s top talents attract other top talents, thus becoming your biggest recruitment weapon.

A company can create a clear framework and definitions of performance that are transparent to candidates, managers, and the company itself.

👉 If you’re building a team for your product, watch the full video where Margaret shared detailed frameworks for doing it effectively.

Get the framework

Epic Web3