Chances are there are multiple people involved in the hiring process at your VC firm. These people may also be geographically dispersed, adding another complex layer to recruitment and onboarding. Regardless of the complexities involved, however, collaboration is essential to the success of your search teams.

Why Collaboration Matters

Mattie Stepanek once said: “Unity is strength … When there is teamwork and collaboration, wonderful things can be accomplished.”

Collaboration makes the world a better place. Forbes’ “12 Habits of Highly Collaborative Organizations”observes: “Collaboration allows employees to feel more connected to their jobs and co-workers, reduces stress at the workplace, makes their jobs easier, allows for more work freedom, and in general makes them happier people.”

The article “3 Steps to Vastly Improving Your Company’s Communication” adds: “Team collaboration instead of hierarchical communication is the most efficient and effective way to share information and get results.” What kind of results?

Particularly in the case of VC firms, collaboration of search teams is integral to identifying and attracting top talent quickly and seamlessly across all your portfolio companies. Search teams that can collaborate in real-time are more agile than their competitors.

This increased agility gives search teams the tools needed to snag the right candidate for the right position quickly. How does your VC firm benefit from this? Here are just a few ways:

  • Vital positions are filled more quickly, saving your firm time and money.
  • Your firm can lock in top candidates before competitors swoop in to offer competing bids.
  • Candidates appreciate a more streamlined search process, which may be the factor that tips the scale in favor of your firm.
  • Workflows improve, giving your search teams time to work on the things that truly matter in talent acquisition and management.

Leveraging ATS Technology for Better Talent Management

For collaboration to be truly effective, it must occur in real-time. Additionally, it must include everyone engaged in the hiring process, from search teams to recruiters to hiring managers and to C-suite execs. Thus, your applicant tracking system must become more than just a repository for applications. It must evolve into a robust talent management platform that enables communication and collaboration across the eco-system of your portfolio companies. ThriveTRM does just that.

True – A ThriveTRM Applicant Tracking System Case Study

Consider, for example, what happened when True, a seven-office firm that focuses exclusively on connecting emerging technology companies across the globe with dynamic talent from the top of the candidate pool, chose to leverage ThriveTRM to support their efforts.

ThriveTRM’s powerful tools began to help True’s search teams streamline workflow and engage clients more effectively. Now, clients could access project-specific data regarding market coverage, market compensation, reference feedback and other key concerns 24/7. Facilitating real-time collaboration between True’s search teams, ThriveTRM makes it possible for teams to spend less time managing the search process, and more time adding value to it.

Tim McDonald, True partner notes: “ThriveTRM helps us provide clients with a real-time, collaborative search experience that improves hiring outcomes for them – and drives revenue for us.”

Would you like to explore all ThriveTRM can do for your VC firm? That is easy to do. Simply take a moment to schedule a demo today.