To highlight how the changing economic conditions are affecting innovators, we collected data from startup founders and their employees throughout April and May 2022. The goal was to identify changing trends in the workforce, including how market conditions are affecting startup hiring, employee motivations and the role of options.
CHALLENGE
Due to the interest rate hike, founder concerns rapidly shifted, with fundraising becoming the top concern
Worried about their ability to raise their next round
EXTENDING RUNWAY
To cut costs and extend their runway, startups changed their hiring strategies
Employees working for public companies
With the sharp fall in the price of tech stocks, public companies are dropping in popularity among employees
Employee sentiment
The market slowdown still didn’t sink in for employees
Startup risk
33% of employees working in a startup is much riskier than before
With today’s uncertain market dynamics, employees are reassessing the risk level of working at startups. Some are more worried, concerned about the inherent instability of a new venture and the continual question mark around fundraising. Others see startups as less risky than before - given the turmoil of the once stable public markets, they understand that nothing can be considered safe in today’s environment.
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