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How To Hire During Blockchain Puberty

 In Multiplied

Even in the bear market, Coinbase managed to grow its team by more than 500 employees, and it’s not the only company in high-growth mode. There are hundreds of unfilled crypto positions floating on job sites, punctuating a massive blockchain talent deficit. Job platforms like LinkedIn, Indeed and Angel List add new blockchain jobs daily, and there are even specialized sites specifically for crypto careers.

Job growth, in spite of falling prices, may be a good sign for crypto. But it also represents the market’s move into blockchain puberty — complete with growing pains, awkward relationships and uncertain life direction.

To date, blockchain jobs have mostly attracted a niche crowd of early crypto adopters. Like typical start-ups, blockchain companies have high turnover and incestuous poaching. There are few “seasoned” professionals with applicable experience, and often companies end up circulating bodies from the same talent pool.

It’s time for crypto companies to break out of their comfort zone and grow [up]. Companies need to graduate from their small elementary school table of crypto candidates and open their doors to a new class of professionals. This means companies need to forge new, uncomfortable and potentially disruptive relationships with unfamiliar candidates. That, or risk running out of manpower.

There just aren’t enough people with 3+ years of crypto experience willing to work in blockchain full time.

Here are some tips for hiring during blockchain puberty:

 

Take chances on more entry-level candidates

Not everyone you hire needs a blockchain pedigree. I know there is a massive learning curve for those just exploring the technology, but there are a lot of individuals self-educating with hopes of entering the crypto space. Look for candidates that can demonstrate a base-level understanding of the technology and perform needed skills.

You can mold a passionate person into the ideal candidate. Look for perpetual students, critical thinkers and astute communicators. These individuals will quickly adapt to your business and provide value. Stay away from individuals that require significant training on core-competencies. If you need to coach basic job skills while simultaneously educating on blockchain, your company momentum will stall.

Offer vertical mobility

You need to slow your revolving door and hire long-term candidates. Offer career mapping for your new hires and incentivize them to stay. Build bonus structures and promote within.

Make every employee feel valuable and allow them to contribute to your company’s life direction. Employees that have ownership in the company vision will feel a greater allegiance.

Foster growth through strong communication and allow your employees build their reputation and expertise through the company. Encourage employees to become crypto experts, evangelize, self-market and build clout.

Prepare to educate

Have you perfected your explanation of blockchain? How about what your company does in relation to blockchain?

New hires mean you’ll likely need to recite similar information over and over. Simply the process. Build a concise and standardized FAQ to onboard candidates. Form down chain mentorships and encourage senior employees to spend time with junior candidates. Host company learning exercises and regularly communicate company updates. Expect new employees to take a month or two to acclimate.

Are you on the hunt for a crypto career? Check out these crypto career websites:

Multiplied is hiring! Check out our job listings and email us if you’re interested in joining our team.

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