How Agicap managed to engage their employees to source top talent

Valentin Mauguet, Head of TA at Agicap
Company overview
Started in 2016 by 3 entrepreneurs from Lyon, Agicap develops and sells a cash flow management and forecasting software (SaaS). They are solving a real pain since 75% of SMEs directors state lacking visibility on their treasury Company size : 200 employees Integrated Stack : Lever / Slack
Lyon, Rhone Alpes
FinTech, SaaS
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Testimonial from Valentin Mauguet, head of recruitment at Agicap, Uses Trusty since June 2020.

Can you introduce us to Agicap? 

Agicap is a Lyon (FR) based fintech, we are developing cash flow management and forecasting software for SMEs in France and internationally. We have have just opened up 3 new markets, Germany, the Netherlands and Spain. Agicap has 3,000 clients today and we aim to reach 10,000 clients by the end of 2021.

What were the growth phases of Agicap?

Agicap accelerated after its first fundraising of € 2.4 million in 2019, we were only 10. We announced a second fundraising of € 15 million in April 2020, we were 35. It was during this second round that recruitments really intensified. Today, at the end of January 2021, we are 130 employees. We have seen a very strong boost in our recruitments since summer 2020 with targets of around fifteen recruitments per month.

Your job at Agicap?

I am responsible for Talent Acquisition at Agicap. I joined the company in 2019, after our first fundraising. My mission when I arrived was to structure the entire department and define the entire talent acquisition and employer branding strategy.

Today, my goal as a recruiting manager is to drive and ensure growth on the talent talent acquisition side in the coming months (ie around 15 recruitments per month. We expect Agicap to reach between 250 and 300 employees by the end of the year in France and internationally.

What have been the repercussions of this hyper growth on your recruiting methods?

The key in a hyper-growth phase is knowing how to renew yourself in your job every week. As a recruiter, it is essential to elevate yourself. If tomorrow I have twice as many recruitments to make, my role is to quickly anticipate the ressources I need to implement to absorb this increase.

The first phase for me was to build up my talent acquisition team. We are 3 and our goal is to climb to 6 in 4 months. 

On the methodological side, I have a very "pipeline-oriented culture", a very « sellsy » outlook on my approach to recruiting. Moreover in the team nobody has an HR background. We are all “sales” in our personality and in our way of doing things. Depending on the roadmap that we define every month, I wonder about the means to put in place to achieve these objectives.  

Very concretely, if we look at numbers, after an initial screening with the recruitment team, I have on average 1/7 candidates arriving at the end of our hiring process and receiving a job offer. 

From there, we just have to go up the funnel: I know the number of calls that the entire recruiting team must generate to reach this goal. Each recruiter has an objective between 3 and 4 recruitments, it is up to me to provide the means and tools necessary to achieve these objectives at the end of the month.

Which channel to favor in this phase of growth?

My recommendation: multiply the channels then adjust to ensure a well-supplied and high-quality pipe. I wanted to set up a 360 strategy when I arrived at Agicap and spoke with a handufl of recruiters in startups to collect good practices. Here is the model that I then put in place:    

1- Active hunting is a high-quality channel, which makes it possible to seek out good potentials who are not necessarily active to the market.

2- Employer branding, to make Agicap known to as many people as possible, gain notoriety, in order to better convert my active hunting and generate more applications. This channel is closely linked to active hunting: the more people you contact, the more you make Agicap known, the more you can distribute content to these people. 

3- Employee referral, which was not enough communicated and with a very "artisanal" and non structured process at the beginning. The main sources of referrals came from the founders but very few from the employees. Employee referral was for us the way to generate a very high quality pipe, which often allows faster recruiting processes, better conversion while considering a rather moderate investment in recruiters' time. In short, a channel that should not be neglected and a channel with an unrivaled return on investment.

What made you invest in employee referrals ?

I spoke with a few fast growing companies who largely convinced me to invest in this channel. Employee referral has considerable advantages: quality of applicants, easier access to profiles in passive search, time saving, cost, better retention, employee engagement ... It is well known today that employee referral remains one of the levers of an efficient sourcing strategy. The hard part about it ? It is very complicated and time-consuming to activate this lever effectively to engage all employees in recruitment. It is very important to invest in this channel as early as possible to create this "culture" and this "referral reflex » among all employees.

What do you like most about Trusty?

Trusty supports me in my sourcing. I have the ambition to convert nearly 30% of my recruitment through this channel within 6 months. Trusty is helping me making this channel a real pillar of my recruiting mix.

It allows me to get in contact with candidates differently, via my employees: those recommended to me are often in passive research, of very good quality. Furthermore, having the validation of a staff member assures me a cultural fit with our values ​​at Agicap which gives me better retention behind. In short, I make my recruitments more reliable and I recruit more quickly.

On the employee side, Trusty ensures a super simple referral experience (notably thanks to the integration with Slack), leads my entire community of referrers and creates this "referral reflex" that we all try to pass on to our employees. The other strength of Trusty beyond being a referral tool, is that the solution allows me to make Agicap known to as many people as possible. Thanks to the MagicLink feature, all my employees can easily share our offers to their family and network, as soon as they join Agicap. Enough to take Agicap employer branding even further since Trusty allows each of our employees to be a true ambassador!

Any tips for a recruitment teams considering using Trusty?

Setting up Trusty allowed me to anchor employee referral as a central element of our growth. Everyone must participate and commit to carry our ambitions.

I would have 2 tips to give to the teams who consider using Trusty:

  • - Organize a 30-minute interview with each newcomer as soon as he has immersed himself in the culture of the company: take their feedbacks on their experience as a candidate, make them aware of your employee referral program and engage them on your employer brand issues as well as on the power of social networks as the n ° 1 channel to share on. And above all: introduce them to Trusty;)
  • - Thanks your employees for referring you candidates. It's important to show them how much their commitment matters, and that it is valued no matter if their candidate is recruited! Engagement is key!

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