Companies are the driving force behind innovation. To continue building as they scale they must constantly hire to fulfill emerging needs. However, several difficulties in the hiring process can cause inefficient outcomes.
First, there are many time-consuming activities in the hiring process: writing job descriptions, searching their networks, filtering through many applicants, and other menial tasks distract teams from their work.
Second, fragmented and asymmetrical information creates the opportunity for adverse selection: not being able to reach potential candidates, verify their skills, and communicate their company's vision effectively causes many companies not to find the right talent.
Hiring is a crucial activity for any business but can be quite costly, with an average role requiring 42 days and $4,129 to fill. The aforementioned risks can be reduced by companies with large HR teams or networks to reach out through, but many web3 companies have yet to develop extensive networks or create robust HR departments. This can create difficulties within their hiring process during the crucial early stages.
Information fragmentation and reliance on personal networks also cause potential inefficiencies in fundraising and investing.
At Collective, we're building the human layer of web3 by working to democratize networks - providing fair and equitable access to the most important business needs: human and financial capital. We're betting on the future of web3 by creating a platform to bring companies, talent, and investors together, providing the tools to continue developing.
Many skilled people are looking for work in web3, and companies are always looking to hire top talent. However, reliance on personal networks and fragmented information from the lack of a central aggregator creates friction in the hiring process. These issues cause similar frictions for those looking to fundraise or invest.
It is difficult for companies to attract the required talent without having an established network. While they can post jobs, this process is passive and doesn’t guarantee the results they want.
It is difficult for talent to find work because of the lack of aggregated information. There is no central place for them to source the best opportunities.
Investors have to sort through loads of information to find good startups or rely on their networks to help them source good deals.
As a result, top organizations and talent are blocked from each other, making it harder for web3 companies to reach their potential productivity and slowing the rate of innovation. These issues have led to the creation of web3-tailored platforms addressing individual issues within the problem landscape. While these platforms may solve individual problems, the user needs to find and visit multiple sources to address different issues they may be facing.
Our mission is to provide a democratized network for our users, allowing for easier access to all kinds of capital - human, social, and financial. We are building a platform to help top talent get matched with the most exciting work and organizations and help those organizations get funding to continue innovating.
Collective makes it easy for startups and talent to find each other, regardless of their pre-existing network. The goal is to make it easier for anyone hiring or looking for work in web3 to find a placement and reduce the amount of time it takes for companies to fill roles so they can spend more time innovating. We make relevant matches by indexing our databases using the specific requirements input by both parties, and connecting them when there is a match.
In web3, there are many more opportunities than full-time and part-time jobs. Bounties have made freelance work much more accessible and can often be more convenient for organizations than creating a new hire or allocating extra work to existing employees. As a result, many protocols are utilizing them to get jobs done.
Highly specialized freelance workers have also played a large role web3’s development. Auditing, Legal consulting, Graphic Design, and Accounting are a few areas with many freelance workers in the space - they are in high demand.
Collective provides one unified location for all human capital needs to be addressed. Everyone from large companies looking for senior PMs to small DAOs needing a logo designer can upload their open work onto the platform. Having all available opportunities posted in one network will attract even more talent, which in return will attract more companies.
Collective gives organizations access to a pool of talent they can filter through based on location experience, skills, previous work, on-chain activity, and more. This helps companies source suitable candidates for jobs much faster than alternatives such as cold outreach or job boards, with far higher accuracy, as matches are directly based off of the information they provide.
Upon completion of bounties or jobs, talent will be issued proof-of-work NFTs which will make it easier for companies to filter and select the best talent based on their on-chain record.
Collective is also releasing tools to democratize startup investing, making it easier for accredited investors to invest in web3 through rolling funds. Also, our matchmaking service is being extended to serve fundraising, automatically referring startups that meet our members’ investment criteria. Non-accredited investors can still support the projects they believe in by utilizing SPVs and crowdfunding tools.
For talent, Collective combines all the necessary tools needed to find work in web3 into one single location.
For startups, Collective significantly reduces the time to recruit qualified talent and makes it easier to raise money through venture capital or crowdfunding so they can focus on building new products, innovating, and bringing value to the ecosystem.
For investors, Collective makes sourcing the most promising projects easier, making it easy for anyone to invest in projects they believe in.
Ultimately, we believe that a single hub for all things capital related will increase the rate of innovation in web3 by enabling companies to fill roles faster, raise money easier, and give talent access to more opportunities than were available before.
In the long term, we plan to build an ecosystem that enables a more efficient allocation of capital and human talent in web3, which will continue to drive innovation forward.
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