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Hiring the right Chief Technology Officer (CTO) is a critical decision for any startup, especially in the early stages. For a 5-person UK-based SaaS pre-seed startup, finding the perfect fit for this pivotal role was proving to be a challenge.
After partnering with two external recruitment companies, the startup’s founder was dissatisfied with the quality of CTO candidates presented. As a pre-seed company, they were particularly concerned about the potential cost of hiring and ensuring the new CTO shared their mission and culture.
Having explored alternative agency support with costs ranging from 18-25%, the founder remained unconvinced that their existing agencies truly understood the startup’s mission, culture, and the significance of the CTO hire.
Kioni were recommended to the founder, having previously supported an early-stage founder in their network. After an initial meeting to discuss the CTO hire and the startup’s hiring plans for the next 18 months, Kioni proposed their contingent model, which would provide three hires at 15% before transitioning onto their regressive pricing model based on candidate salary.
Kioni’s solution went beyond simply sourcing candidates. They provided the startup with:
1. Market Analysis: Kioni conducted a comprehensive analysis of the relevant market, providing the startup with valuable insights into the talent landscape.
2. Diversity Data: Recognising the importance of diversity in technology, Kioni provided a breakdown of women in technology, ensuring the startup could make informed decisions about building an inclusive team.
Kioni’s approach and understanding of the startup’s needs led to:
– 9 qualified CTO candidates were identified
– 7 candidates progressed to the first round of interviews
– 5 candidates advanced to the second round
– 3 candidates reached the final round of interviews
– 1 outstanding CTO candidate received and accepted an offer
Kioni’s process resulted in the following metrics:
– 77% submission-to-interview ratio
– 71% first-round to second-round interview progression
– 100% offer acceptance rate
Beyond the successful hire, Kioni’s solution provided significant cost savings for the startup. Compared to the alternative quotes the founder received, ranging from 18-25%, Kioni’s contingent model allowed the startup to save between £2,250 and £7,500 on this critical CTO hire.
Kioni’s tailored recruitment solution not only helped the pre-seed SaaS startup secure the perfect CTO but also provided valuable market insights, diversity data, and substantial cost savings. By truly understanding the startup’s unique needs and offering a customised approach, Kioni proved to be an invaluable partner in this pivotal hiring decision, setting the stage for the startup’s future growth and success.