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Andrew HeywoodDirector of Talent Acquisition
Karen Chen Product Marketing Manager
Problem
➔ Across all industries, 15% turnover rate
➔ Banking, Healthcare, Finance, 17%➔ Silicon Valley, 2-3 years
➔ On average, it costs 20% of employee’s annual salary to replace them
➔ Disengaged employees have 37% higher absenteeism, 49% more
accidents, 60% more errors and defects.
➔ 65% lower share prices
Globalized, Increasingly Competitive World
Products are becoming more sophisticated
Business obstacles are becoming more nuanced
Time-pressure is becoming more acute
You need top talent to:
Respond quickly and creatively
Collaborate with an ever-increasing diverse set of teams and individuals
Loyal and passionate about both product and customer service
Common Problems in Talent Acquisition
No clear plan for hiring
Don’t understand the requirements of the job
Don’t consider their company brand
Unstructured Hiring
Pre-screening
Who’s going to handle the first round? The second round?
What’s the cadence between the first phone interview to the first offer? Two weeks? Three weeks?
How many opinions will be solicited? 2? 3? 4?
Unclear Job Requirements
➔ Is this a new job? Or is this meant to replace someone?➔ What are the key requirements?➔ What are the nice-to-haves?
➔ What are the most important questions to ask yourself?
Different hiring patterns for different jobs
A marketing rep should have different set of questions from a developer
Soft skills vs Hard skills
Regardless of job, should have a skill/creativity component
Insufficient Marketing of Company Brand
Why would talent want to work for your company?
What are your company’s distinct traits?
What personalities best fit in your company?
Example: Twitter, Rocket Fuel
Best Practices
Making hiring structured
Make sure there’s collaboration between the hiring team and “x” team
Understand your company culture
➔ Managers are one of the most important deciders of job satisfaction➔ Identify the magnets – the people who attract and inspire their
colleagues the most➔ How do you maintain high job satisfaction?➔ How do you turn around employee disengagement?
Talent Retention
Identify Instability & Insecurity
➔ Conduct regular “stay” interviews➔ Identify reasons for insecurity➔ Insecure about their role?➔ Insecure about their team/manager?➔ Insecure about the company’s future?➔ Compensation does not solve everything
DAQRI’s Unique Challenges + Solutions
Unique product, requires many industries and personalities underneath one roof
Plan to x2 employees within one year
“Check your ego at the door, please.”
40-50% of employee retention should be from personal referral
QuestionPro Workforce
questionpro.com/workforce
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