SOURCE: Jobvite

Jobvite

November 07, 2013 16:11 ET

Media Alert: Jobvite Releases Pre- and Post-IPO Hiring Data Ahead of November National Employment Situation Report

BURLINGAME, CA--(Marketwired - Nov 7, 2013) - Jobvite, the complete recruiting solution used by Twitter, Zappos and over 1500 of the world's fastest-growing companies, today announced results from an analysis of hiring data from pre- and post-IPO technology startup companies. This included more than 130,000 job requisitions and applications and traffic to career sites from ten of the most prominent recent IPO and pre-IPO technology startups, examined over a ninety-day period of time.

Findings include the following:

Companies go on a hiring binge pre-IPO, particularly in sales and engineering. Afterwards, hiring ceases almost immediately.
Post-IPO, the areas that see the largest hiring slowdowns are in:

  • Sales -36%
  • Marketing -20%
  • Support -15%
  • R&D -29%

Post-IPO, the hire acceptance rate rises, along with traffic to the company career site. 

  • Traffic to the career site increases by an average by 17%
  • Applications increase by 7% 
  • Acceptance rate goes up by 24%

Companies anticipating an IPO have an edge -- but only a very slight one -- over the average startup.

  • Engineers at companies in a pre-IPO stage stay two years on average
  • Engineers at the average startup stay an average of 18 months

Comment from Jobvite CTO Adam Hyder
"Naturally, an IPO generates a tremendous amount of awareness that translates to greater traffic to the company's site and increased interest in the company as an employer.

Overall, post-IPO companies are also attractive to more risk-averse job seekers, which changes the profile of the typical hire. This may account for the notable increase in acceptance rate as companies adjust their hiring criteria."

Comment from Jobvite CEO Dan Finnigan

On the affect of Twitter's IPO on hiring:
"Anytime you have a significant tech-pillar IPO -- and Twitter is one of them -- that imbues Silicon Valley and the tech industry with more confidence. Wall Street's confidence also grows. If investors are more confident in investing in early-stage customer engagement companies on the hopes of future revenue growth, that creates more investment in tech companies and generates more tech hiring."

On the talent shortage in tech:
"With or without a major tech IPO, there's a shortage of qualified skilled talent in the tech industry. The Twitter IPO will only exacerbate that tightness in the market and it will only encourage the most talented and adventuresome to shun bigger companies and pursue their visions with small startups. Which is a good thing."

On the startup ecosystem:
"Twitter's IPO will give birth to a new sub-community of both investors from Twitter as well as new entrepreneurs from Twitter. Yahoo spawned a bunch. So did Google. So did Facebook. Twitter will as well."

About Jobvite
Jobvite is the leading recruiting platform for the social web. Today's fastest-growing companies use applicant tracking, recruiter CRM and social recruiting software solutions from Jobvite to target the right talent and build the best teams. Jobvite is a complete, modular Software-as-a-Service (SaaS) platform which can optimize the speed, cost-effectiveness and ease of recruiting for any company. For more information, visit www.jobvite.com.

Contact Information

  • Media Contact
    For more information or to request an interview, please contact:
    Kei Hoshino Quigley
    (415) 625-8555
    jobvite@launchsquad.com