Go 3.0: Solving Challenges in Web3 Recruitment
Web3 is a booming trillion-dollar industry that has the world’s attention. In Web2, the user is the product, but in Web3, the user holds power over their data. Brands and companies are demanding expert Web3 talent to upgrade their products and services. This is because Web3 enables creativity, monetized digital assets, virtual experiences, and so on!
51% of Gen Z and 48% of millennials envision doing some of their work in the metaverse in the next two years, according to Microsoft’s Work Trend Index 2022.
As the demand for decentralized applications increases, so does the demand for top talent who can pioneer the future of finance, gaming, and beyond! But the journey to find Web3 talent seems daunting. Let’s talk about challenges, some smart strategies, and a remarkable solution at the end of this blog!
Quick Tip: If you need to hire a Web3 developer asap, book a 30-minute discovery call with our Talent Reps, and we’ll match you with the perfect pre-vetted Web3/Blockchain developer in no time!
Challenges In Web3 Recruitment
1. Complex skillset requirement: Web3 technologies are not for the faint-hearted. Candidates must possess a unique blend of technical expertise and innovative thinking. From understanding decentralized networks to mastering blockchain protocols, the skillset requirements for Web3 roles are very complex.
2. Lack of formal education: Compared with traditional industries, Web3 is an area where inventors frequently build their paths without a formal degree because it is still in its early stages. This makes it difficult to evaluate a candidate's skills based merely on their degrees or certificates because many top Web3 talent is self-taught.
3. Lack of talented Web3 developers: Finding people with firsthand experience in Web3 can be like looking for a needle in a haystack. Companies may feel like they are in an endless cycle of waiting due to a shortage of experts who understand blockchain, smart contracts, encryption, and other technical Web3 features to improve or build new products.
4. High demand for Web3 talent: As if Web3 itself wasn't exciting enough, the demand for talent in this space is off the charts! Web3 companies are competing in a frenzy to attract the best Web3 candidates.
5. Keeping up with advancements: By the time it takes you to say “Soulbound Tokens” somebody probably will come up with an idea for a new Smart Contract use-case. Blockchain and Web3 technology are evolving rapidly which means it's important to stay updated with emerging trends, protocols, and features. In this super quick environment, it might be difficult to find individuals who are not just familiar with the current Web3 landscape but also stay on the cutting edge.
6. Swift hiring for time-sensitive projects: Web3 projects often have tight deadlines to seize emerging opportunities in the decentralized space. Delays in the hiring process may result in lost opportunities for rapid growth. Ultimately, streamlining the hiring process to quickly find, interview, and onboard the best Web3 applicants becomes essential.
7. Retaining Web3 talent for the long haul: Since Web3 talent is in high demand, and other companies might try to swoop in and snatch your brightest stars, retaining top talent in the Web3 industry is a huge challenge. Companies must implement retention strategies such as career growth opportunities, ownership/stake in the project, engaging communities, and continuous learning to keep their Web3 talent orbiting around their mission.
8. Adapting to market trends: Because of the Web3 ecosystem's dynamic nature, job demand fluctuations might occur. It's crucial to maintain flexibility and modify hiring practices to reflect current market trends. To keep ahead of the competition, Web3 companies should continually assess the Web3 employment market, discover new skill requirements, and modify their hiring strategy as necessary.
9. Navigating online presence: A company's reputation and online presence are important in the digital world. Before choosing employment, Web3 talent frequently performs extensive research on a company, project, community, or DAO. For Web3 projects and businesses to grab the interest of skilled talent, they must maintain a remarkable online presence and community, highlight their accomplishments, and structure community rewards like no one else!
Quick Tip: LinkedIn will prove to be a game-changer for you. There are a ton of talented new designers and developers seeking jobs in the Web3 industry so it might be prudent to sneak out of Discord once in a while and into LinkedIn to draw their attention towards your company.
10. Interviewing with the traditional system: Traditional interview methods might not be sufficient to assess candidates' problem-solving abilities and mentality. Companies must create interviews that evaluate a candidate's technical expertise, logical reasoning, and capacity for adaptation to the rapidly shifting Web3 environment.
Here is a free interview template for you so that you don’t miss any questions!
What Attracts the Top Web3 Talent - Smart Ways to Hire
Attract Web3 talent with your mission: Web3 contributors aspire for something more significant than just a paycheck—a goal that aligns with their beliefs and ignites their creative energy. The best minds are drawn to your Web3 project when you share your vision and demonstrate how your efforts in contributing to a decentralized future.
Consider Aave as a brilliant example of a Web3 company that recognizes the need for a compelling goal. Top Web3 talent has been drawn to Aave's aim to transform the world of decentralized finance through innovative lending and borrowing protocols. Aave's goal brightens the spark of Web3 experts who desire to reshape the world's financial system by developing a decentralized money market that empowers users while also promoting the financial landscape.
Work-life balance: The search for information and creativity frequently crosses time and space barriers in the huge Web3 world. Web3 talent aspires to a cohesive balance between their personal and professional lives. Finding that ethereal balance is more important to them than just clocking in hours.
Continuous growth opportunities: Web3 is still in its infancy and that means staying abreast with new updates frequently. Most Web3 talent desires to keep developing and have the chance to explore the depths of blockchain technology and its potential. Your project or community needs to function as a launch pad for these ambitious individuals' intellectual journeys if you want to draw them in and keep them.
Good compensation packages: Think about implementing crypto incentives to actually stand out in the market. Web3 talent is, at their core, cryptocurrency lovers, and the temptation of obtaining a percentage of their pay in cryptocurrency is comparable to the glimmering of distant stars. Kraken is a good example of offering crypto incentives.
Web3 companies like Uniswap have utilized equity-sharing programs to create a sense of ownership and empowerment among their teams. Similarly, Coinbase is renowned for its magnetizing approach to compensation. By offering competitive salaries, Coinbase has managed to retain some of the most sought-after Web3 talent in its space!
Top talent demands more than a flashy paycheck: Web3 talent long for an environment that gives them the flexibility to play around, and think creatively. Offering flexibility in work arrangements may act as a magnet to draw these great minds to your Web3 company. Let's examine more closely how some genuine Web3 businesses have used flexibility to attract top Web3 talents.
Chainlink has embraced remote work as a standard, allowing Web3 talent to work from the comfort of their homes. In MakerDAO, flexible work arrangements extend to collaborative endeavors. Teams are empowered to design their own work processes, facilitating seamless coordination among contributors!
Recruit Web3 Talent Like a Boss With These Strategies
1. Host a Web3 hackathon: A Web3 hackathon offers an opportunity for participants to work on actual problems your Web3 project might be facing, allowing them to demonstrate their creativity and problem-solving abilities in a freeform manner. It's a chance to share the purpose of your company, core principles, and current initiatives with a wide range of people. This will develop deep relationships, identify future rockstars, and find possible hires by interacting with attendees during the event. Smart hack, right?
Here are a few platforms where you can host a Web3 hackathon: Gitcoin Grants, ETHGlobal, Devpost, and Acala Network.
2. Offer Internships and Up-skill New Talent: It’s a top-notch way to immerse new talent in exciting projects. Provide mentorship and opportunities for hands-on experience with cutting-edge technologies. These bright young minds get to work alongside experienced professionals and get practical experience. They will make significant contributions to your projects, and bring in a new perspective which in turn will enable them to realize their full potential in the decentralized world of Web3.
3. Guest Webinars: Hosting guest webinars for influential Web3 personalities can make all the difference in your search for top Web3 talent. Who doesn't get attracted to influential developers/authors, thought-leaders, and experts sharing their knowledge and experiences in real-time?
By bringing these Web3 experts to your webinars, you have a venue where prospective contributors and employees can interact, learn, and establish a more intimate connection with your project and business. Attendees hear from highly successful Web3 experts while also getting an inside look at your initiatives, culture, and goals.
4. Referral Networks: Referral networks are extremely effective for Web3 companies since they are based on credibility and real relationships. When your current team members endorse potential employees, it conveys strongly that your company is a great place to work. Web3 talent values independence and seeks out employers that reward and acknowledge their achievements. Through this, you are actually inviting people who share your company's goals and beliefs by encouraging your employees to recommend outstanding friends and peers from the Web3 community.
Want to Hire a Web3 Talent in 3 Simple Steps?
All of the above-suggested possibilities require commitment, determination, time, and money. But what if there was a way to effortlessly find the perfect Web3 talent, handpicked to suit your unique company vision?
Let’s talk about the only (yes only!) talent platform dedicated to building a strong community of Web3 designers, developers, and non-engineering Talent - Go 3.0, a platform to offload all of your Web3 recruitment and payment problems saving you time and money to focus on your project’s more creative goals.
So, what really does Go 3.0 offer?
Four simple benefits of using Go 3.0 for Web3 Recruiters and Founders:
Reliable vetting
Advanced payment structures (Fiat + Crypto)
Dedicated support
Exceptional value for money
3 simple steps to recruit Web3 talent:
Book a discovery call to hire pre-vetted Web3 talent (Blockchain developers etc.)
Get matched instantly based on your requirements
Sign off on the right candidate and kick off development!
Go 3.0 aims to help Web3 founders and recruiters seamlessly build their project teams with minimal hassle.