Client: Venture capital firm based in London and New York
The case: Our client had developed business and social relationships with a large group of talented individuals through a number of initiatives (chief among them was University Scholarships). The goal of such relationships was to count on a pool of entrepreneurial talent they could easily access to cover recruitment needs and also be first choice in case any of these talented individuals sought venture capital investment for their companies at some point. Our client called upon our expertise to validate their talent acquisition strategy and understand whether it was successful.
Our approach: As we normally do in cases like this, we set off to listen to the people in the talent pool and understand the strength of their ties with our client and their expectations. As a second step we analysed historical data and measured the results achieved (directly and indirectly) over the previous five years through the Talent Pool. We also compared the results against those of other initiatives.
The results: Our study proved the inefficacy and high maintenance cost of the relationships to achieve the goals proposed. Moreover, the relationships proved to be mostly unidirectional which resulted in our client spending significant amounts of money to develop and maintain a pool that did not deliver results. We recommended stopping the current set of initiatives and replacing them with new actions aimed to build stronger and more lasting relationships with entrepreneurial talent in a cost effective fashion.