What exactly is Toptal?
In addition to being a prominent and well-known freelancing platform, Toptal links customers with strongly independent contractors. Whenever Toptal first began out, it solely provided services to independent software engineers. However, after a few years, it began to branch out into other industries, employing freelance artists, financial specialists, design teams, and site supervisors.
Toptal’s most distinguishing characteristics are its thorough screening procedure and its huge network of high-quality talent. Coding reviews, portfolio evaluations, authentic testing, and a Proficiency level exam are all part of the company’s multi-stage verification procedure. Toptal says that its rigorous screening process allows them to identify and hire just the “Top 3 percent” of freelancing talent.
To help comprehend freelancers’ key abilities, talents, and job history, Toptal recruitment conducts a thorough assessment process to interview them. As soon as Toptal receives a customer need, it thoroughly investigates them and connects them with the most qualified freelancer available from its talent pool. Employing from Toptal, on the other hand, is not inexpensive. This is partly because only well-funded ‘top’ businesses can afford to employ freelance via the network.
How Toptal Finds Top Talent?
The company uses a tailored similarity measure to connect freelancers with practical tasks listed by customers on Toptal’s website. Below is the step-by-step breakdown of the procedure:
Create an account on the platform and submit a proposal:
To employ freelancers, customers must enter their needs via a questionnaire on Toptal’s website, including all pertinent information about the work.
Get on the phone with a member of Toptal’s staff and explain your needs in detail:
Following receipt of the scope of work from the customer, Toptal’s staff members analyse it and contact the customer to discuss the project. Toptal’s staff attempts to acquire an in-depth grasp via discussion with the client.
Consult with Toptal for suggestions.
Toptal then goes to work on identifying freelancers who seem to be a suitable match for the assigned task after knowing the situation. Whether freelancers are accessible instantly, Toptal will suggest candidates to the customer by sending their digitized portfolios to the customer’s email address. Once fulfilling their separate security checks, Toptal will endeavor to locate appropriate freelancers for their customers if none are accessible in their selected hot tub.
Conduct your own interactions with the suggested freelancers in examining and assess them.
The customer may then decide whether or not to meet and greet the suggested freelancers and assess them according to their own criteria after receiving their recommendations.
Choose the most qualified freelancer for the task and begin working with them for a test period.
The customer can begin dealing with freelancers instantly upon finalizing the contractual relationship if they are pleased with the freelancer’s work. Toptal also demands a $500 advance from customers that will be applied as a rebate to the customer’s initial bill in the commitment once the project is completed.
Choose whether to carry on working, seek a substitute, or terminate your relationship with Toptal.
Customers may assess the freelancer’s productivity and determine whether or not they are a suitable match during a risk-free test period offered by Toptal. Alternatively, if the customer chooses not to proceed with the commitment, they are not bound to pay anymore – Toptal will return the $500 fund in its entirety. Toptal freelancers are used to working from home. On the other hand, customers have always had the option of requesting freelancer labour from their location. The supply of such freelancers, on the other hand, is very limited.
Examine the freelancer’s performance and provide your approval for payouts.
The site offers several different payment options. In most cases, invoices are sent out every two weeks, with bills due within ten days after receipt of the invoice (known as ‘Max 10’ conditions).
Why 3% only?
Toptal is derived from the term “Top Talent,” which means that they are always on the lookout for the finest people all over the globe. Its stringent aspect finds professionals in their fields who are passionate and driven in their work.
Toptal receives hundreds of resumes monthly, with just a small percentage (usually less than 3%) being approved.