Startup Outlook - 2011 Human Resources

STARTUP OUTLOOK 2011 SILICON VALLEY BANK'S ANNUAL REPORT "STARTUP OUTLOOK" HELPS STARTUPS IDENTIFY UPCOMING CHALLENGES. HERE ARE SOME OF THEIR HR-RELATED INSIGHTS. WHAT'S YOUR BUSINESS OUTLOOK FOR THE NEXT 12 MONTHS? HOW LIKELY ARE YOU TO HIRE NEW EMPLOYEES IN THE NEXT 12 MONTHS? NEITHER LIKELY NOR UNLIKELY UNLIKELY WORSE - 5% LIKELY SAME - 17% BETTER - 78% AT A GLANCE, THINGS ARE LOOKING GOOD, AND STARTUPS ARE INTENDING TO HIRE.. SO WHERE ARE ALL THE CHALLENGES? WHAT WILL BE YOUR BIGGEST CHALLENGES IN 2011? AND YOUR BIGGEST RECRUITMENT MANAGEMENT CHALLENGE? ACCESS TO FINANCING 39% HIGH COST OF COMPENSATION 44% SCALING OPERATIONS 35% HIGH COST OF LIVING IN MY AREA 42% REGULATORY ENVIRONMENT 31% FEW QUALIFIED EMPLOYEES 18% BUSINESS CONDITIONS IN MARKETS 29% OBTAINING VISAS 18% RECRUITING & MANAGING TALENT 25% MANAGING DIFFERENT LOCATIONS 17% LOSING EMPLOYEES TO COMPETITORS 16% QUALITY OF EDUCATION 8% WHEN WE DIG INTO THE NUMBERS, A FEW INTERESTING INSIGHTS EMERGE: GEOGRAPHY MATTERS LESS AND SOFTWARE COMPANIES WILL BE THE BUSIEST RECRUITERS WHERE ARE YOU LIKELY TO HIRE YOUR NEW EMPLOYEES? HOW LIKELY ARE YOU TO HIRE NEW EMPLOYEES IN THE NEXT 12 MONTHS? SOFTWARE HARDWARE 88% 2010 86% 2011 STARTUPS STARTUPS 29% 31% 2010 2011 20% 22% 2010 2011 LIFE SCIENCES CLEAN-TECH STARTUPS STARTUPS SAME AREA AS BEFORE A DIFFERENT STATE A DIFFERENT COUNTRY LIKELY NEITHER LIKELY NOR UNLIKELY UNLIKELY tribehr SOURCE: SILICON VALLEY BANK "STARTUP OUTLOOK 2011" VISIT US AT wwW.TRIBEHR.COM