How Founder Institute Made Better Hires and Increased Retention with Recruiterbox
The Founder Institute is an idea stage accelerator program that helps aspiring founders launch meaningful companies in less than four months. Many of their graduates have gone on to receive funding from renowned venture capital firms like Andreessen Horowitz and Sequoia Capital. With a mission to globalize Silicon Valley, the Palo Alto, Calif.-based organization operates programs in more than 100 cities worldwide.
When finance manager Andrew Crawford joined the Founder Institute at the beginning of 2015, the organization was relying primarily on email and Google Docs for hiring. As a result, they didn’t have an easy way to track how many candidates had applied, and know where those candidates were in the pipeline. Searching for team members’ notes about candidates was difficult. Resumes frequently got lost.
“I saw a lot of wasted time and productivity,” Crawford says. He knew that the Founder Institute needed a centralized place to organize all their hiring activity, and immediately began looking into applicant tracking systems.
As the Founder Institute team researched ATS software, they looked for one that could meet the following requirements:
- Seamless incorporation with their existing hiring process
- Allowed for collaboration between multiple users
- Email and calendar integration
- Flexible, so they could switch between different plans as hiring needs changed
After gathering ATS recommendations from colleagues at other organizations, the Founder Institute elected to go with Recruiterbox. Not only did it hit all their requirements, but it was available at an SMB-friendly price point.
Though Crawford says there was some initial resistance to ATS software – “There were some people who had been at the company for a while who didn’t want to change anything” – once the decision was made to bring Recruiterbox on, implementation and utilization was easy. “There’s not a steep learning curve with the software.”
Since the Founder Institute began using Recruiterbox in 2015, Crawford says they company has experienced many benefits, including:
- Better employees: “We’ve increased our quality of hire.”
- Increased retention rates: “People are staying longer. Everybody we’ve hired since I’ve been at the Founder Institute is still here.”
- Cost savings: “If you have constant turnover and always have to hire new people, you’re losing money.”
- Time savings: “Hiring can be a long, tedious process, and we’ve saved a tremendous amount of time using Recruiterbox. It’s a lot more organized.”
In fact, Recruiterbox has had such a positive impact on the Founder Institute’s hiring process that Crawford makes a point to share it with the founders going through the program. “Every time I talk with them I mention Recruiterbox,” he says. “I tell them about the ease-of-use – it’s so easy to implement, and they have they ability to move between plans. And it’s affordable for them, too.”
Crawford says it’s a mistake for companies, even small ones, to rely too long on email and spreadsheets for their hiring. “Those are fine when you’re just trying to make a couple hires, but it’s not sustainable in the long run,” he says. “If you’re looking to scale up, it’s not the way to do it.”
“We work with a lot of early-stage founders, and every time I talk with them I mention Recruiterbox. It’s so easy to implement, they have they ability to move between plans, and it’s affordable.”
Finance manager, Founder Institute