The Dismal Facts Companies are losing great candidates 1 in 4 candidates report a bad experience when applying for a job There is a failure to engage 74 of companies dont keep candidates ID: 662043
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Slide1
Hiring: Just the Facts
October 2, 2014Slide2
The Dismal
Facts:
Companies are losing great candidates
1
in 4 candidates report a bad experience when applying for a job
There is a failure to engage
– 74%
of companies don’t keep candidates
informed
42
% of those candidates would never seek employment at the company again, 22% would tell others not to work there – damaging an employers brand60% of candidates that leave a job, do so because of a culture misfitA bad hire could cost between $150-220K (for someone making $110-130K)
Source: http:/
/
www
,
careerbuilder.comSlide3
Best Practices:
Have a hiring strategy
Define the job before you define the person
Make hiring a priority and move fast
Pay people
what they are worth
Look beyond the obviousSlide4
Always Have a Pipeline
Employee referrals
Network, Network, Network!
Events, investors, colleagues and friends
91% believe brand plays a key roleGet the word out – Venture Loop, LinkedIn, Job Boards, Website54% use social media, 72% use mobile devices when looking for a jobUse an ATS to track the status of your candidates and your own recruiting metricsSlide5
Define the Job: Use Scorecards
Mission:
Market Operations will bring a detail-oriented and metrics-driven approach to improving, growing and matching the supply and demand of a geographic marketObjectives (2-3):A top performing Market Operations Specialist will be able to increase yield by 10% after their first 60 daysCompetencies and Hard Skills:Competencies: Takes Initiative, Analytical, Creative, Intelligent, Honest, Persistent, Intuitive, OrganizedHard Skills: Looker (or similar),
Salesforce, Excel, PowerPointSlide6
Look Beyond the Obvious
Value
potential
over experience
Don’t just look for Stanford CS grads who look like youGo beyond a 25 mile radius – there is a lot of talent that isn’t being bombarded with job offers“Brand Name” companies or schools almost always demand a premium price
Google engineers are
3x
more likely to
reject
requests for interviews than the general candidate poolSlide7
Need for Speed
Be prepared to
SPRINT
every time you meet a candidate
Assume everybody you talk to has 3 paper offers in handYou have 5-10 business days from first meeting someone to having a firm yes or noNever reschedule on a candidate and never let your own schedule dictate the speed of the process A quick “NO
”
is just as important as a
“
YES
”Slide8
Engineers Know What T
hey are Worth
Factors that Drive Initial ResponseSignificance of Regression CoefficientInitial Salary OfferNumber of Competing OffersPersonal Message
Is Top Company
Message from Engineer/FounderSlide9
Salary Ranges
1
7%31%37%14%8%
24%
45%23%7%21%41%31%29%
40%
24%
7%Slide10
Equity Ranges
1.3%
29%30%33%9%
15%2
%51%9%23%8%62%
10%
9%
6%
3%Slide11
Perks Can A
dd 30-40% to Base Pay
Most Valued:Great medical insurance, including dental and visionGenerous life insurance and retirement plansPaid vacation, more vacation, sick timeFlexible schedulingWhat Else:Opportunities for professional development and continuing educationSalary raises and bonuses
Discounts on products and services
Source: 2014 Mercer Survey, undercoverrecruiter.com, Entreprenuer.com:Slide12
Final Thoughts
Your first engineers are
CRITICAL
Hire the most experienced (and expensive)
talent at the beginning, when the stakes are the highestHire people who are passionate about your business – focus on culture-fit firstBe respectful and make each candidate feel uniqueRealize that hiring well is a full time jobMake recruiting your
#1 p
riority to grow your business!Slide13
Thank you
jacqueline@hired.comSlide14
AppendixSlide15
Most Popular Coding Languages of 2014