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Strategies To Acquire and Retain Top Talent

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Andrew Heywood, Head of Talent Acquisition at DAQRI, at QuestionPro’s Workforce webinar shares the top secrets and insider tips on talent acquisition and retention strategies.

Published in: Recruiting & HR
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Strategies To Acquire and Retain Top Talent

  1. 1. Andrew Heywood Director of Talent Acquisition Karen Chen Product Marketing Manager
  2. 2. 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
  3. 3. Globalized, Increasingly Competitive World Products are becoming more sophisticated Business obstacles are becoming more nuanced Time-pressure is becoming more acute
  4. 4. 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
  5. 5. Common Problems in Talent Acquisition No clear plan for hiring Don’t understand the requirements of the job Don’t consider their company brand
  6. 6. 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?
  7. 7. 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?
  8. 8. 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
  9. 9. 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
  10. 10. Best Practices Making hiring structured Make sure there’s collaboration between the hiring team and “x” team Understand your company culture
  11. 11. ➔ 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
  12. 12. 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
  13. 13. 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
  14. 14. QuestionPro Workforce questionpro.com/workforce Follow Us on Twitter - @questionpro - #hiringbestpractices workforce@questionpro.com

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