When it comes to cryptocurrency and related industries, business is booming. Crypto has flourished over the last years, even as the world grapples with managing the Covid pandemic. As crypto booms, the experts that lead cryptocurrency businesses are in high demand. Firms in the crypto space are in desperate need of leaders as they grow their enterprises.
The industry is now growing at a break-neck speed. In the past, the industry was considered nascent as a market, by many. Now the market draws a lot of talent to it. One expert on the matter, David Richardson, spoke to Cointelegraph about these developments. Richardson is a partner at Heidrick & Struggles. Heidrick & Struggles is a firm that carries out searches for executives. Richardson stated that the demand for executives is put into motion by the growth rate of these enterprises. He added that the growth rate is also sustained because of the need to hire top executives that can assist them in continuing to grow and keep the momentum with the growth rate in the business.
Cryptocurrency businesses are on the search for expert leaders who have proven capabilities in scaling businesses to a point of success. According to Adrianna Huehnergarth, the engagement manager from Heidrick & Struggles stated that these companies are willing to hire these experts even if they do not have any previous knowledge of cryptocurrency or digital currency. Huehnergarth said that they are witnessing a lot of demand for heads of engineering. She highlighted those that have a track record of delivering in terms of scalability.
Professionals stated that the highest in-demand skills are for the C-Suite. These are leaders in engineering, finance, legal, corporate development, and go-to-market. Other than this expertise, firms are looking for low-ego executives who have shown their abilities in several aspects. These aspects bring passion, excitement for growth, the mission of the space. In addition, firms are looking for executives that are adaptable. Adaptability is a key area worth dwelling on since the industry is so fast-moving. All firms attempting to stay profitable and ahead of their competitors need to remain adaptable, not only to thrive but to survive as well.
As the world slowly begins to embrace cryptocurrency more and more in the mainstream, the need for regulators to put in place regulations that work well also translates into a need for firms operating in this space. Firms need to stay on top of these regulations. Huehnergarth stated that a lot of firms that they worked with had more of a regional focus as opposed to a centralized type of setup, typical of a more traditional type of business.
The opportunity to work remotely in crypto has been a very attractive element of incentivizing experts. This was according to Huehnergarth. She added that many firms had removed the requirement of having a headquarters. In addition, these companies in the crypto space are capable of keeping employees happy with their capacity for giving out incentives and cash compensation. This translates into these happy employees staying to work at these organizations. Heuhnergarth added that these companies were making offers of employment to senior talent and giving them lucrative offers that are extremely difficult to not take.
According to Richardson, some companies focus more on one aspect between technology and finance. He added that the culture that the founders made for each company determined which field that company focused more on. Richardson said that as a business matures, a lower level of technical competence can be enough. However, when the technical barrier to entry into the industry is not so high, it allows many more talented people to join cryptocurrency and become part of experts in the industry.
02 Feb 2023
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