OpenView Partners Leads Successful Recruitment for Expansion Stage Companies
OpenView Venture Partners, an expansion stage venture capital fund, releases its latest case study today about how it helps expansion stage companies decrease the cost of mis-hire and risks from the recruiting process.
“All the time and money involved in the recruiting process is wasted if you mis-hire,” says George Roberts, venture partner. “It can have a significant cultural or morale impact if it’s not a fit. It’s like the white blood cells in your body. If they find an organism that doesn’t belong there, there are serious implications. The internal turmoil and distraction that a mis-hire creates is seriously distracting for growing companies.”
To prevent these consequences, the OpenView team has made it a priority to help the firm’s portfolio companies accumulate the type of talent that boast both a qualified resume and complimentary personality. As the firm saw the necessity of an official recruiting arm for its portfolio companies, Diana Winings was brought in last September to develop a consistent hiring model that would help make the recruitment process more efficient and predictable.
“We are invested in these companies, so we like to treat the process like we’re hiring the candidates to work for OpenView,” Winings says. “OpenView truly has a stake in these hires succeeding with these companies and helping them grow.”
Since the OpenView team understands each portfolio companies’ culture and hiring needs, the firm can find the best fit to portfolio companies.
Isaac Garcia, co-founder and CEO of Central Desktop, found that hiring the right talent was challenging as an expansion stage company.
“If the wrong people are hired, you have to factor in lost production or lost sales for the time they were there, the related cost of their affect on the efficiency or morale of their coworkers, and the obvious cost of finding another person to replace them. The cost is enormous to an expansion stage company and it’s a mistake that most companies at that stage of their growth can’t afford to make,” Garcia says.
Since 2008, when Garcia started to get support from OpenView to grow Central Desktop, the company has gone from a team of four to a well-oiled 40 person machine. “Every year, we’ve had triple digit growth. We owe a lot of that to OpenView and their ability to help us staff up with the right people that were ready to help us grow the company,” says Garcia.
Read the case study in its entirety and learn about the hiring success stories of Central Desktop, Intronis, and Zmags by visiting our website.
About OpenView Venture Partners
OpenView Venture Partners is an expansion stage venture capital fund with a focus on high-growth software, internet, and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies (http://openviewpartners.com/portfolio/index.html) with quickly ramping up Product, Go-To-Market, and Organizational and Operational functions to best practice levels. The firm was founded in 2006 and has a total capital under management of approximately $240 million. OpenView Venture Partners is based in Boston and invests on a worldwide basis.