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

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