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The War for Talent: August 28TH, 2008
Ben AndersonPartnerCTPartners
Leading companies win by hiring, developing and keeping the best people.
Ben Anderson - Context
Live in Menlo Park – Silicon Valley Left NZ for the UK – 1988 Robert Walters – IPO 1996 TAPS – sold to Step Stone President Intellimark - $250M Renoir Partners – CTPartners 2005 - Silicon Valley Leadership recruitment & coaching Beachhead Advisory Board Member
Global Talent Market
Business
CultureTechnology People
Today's Conversation
Mindset – What do you want ? The Experience working with NZ What is Possible How - a discussion
The Right People in Right Roles
Talent is a winning ingredient Hiring no different to making a capital
investment You need to get people selection right High risk Tight talent market Tough and emotional Cultural - It’s different in different
markets
Overseas
Stop. What Do You Want
What Can we Learn
International to USA
Messages & Learning's “Hire great people - “good enough” won’t cut it” “get involved with your hiring” “Great people are five times as valuable as good people -
especially applies to engineers” “Its impossible to tell from a resume if someone is great” “Great people are worth it. “Markets are winner takes-all - increasingly true in a
globalized world “you need the very best; “good enough” will no longer cut it
when against intense competition” “Hire the best people they build great and lasting
companies.” “Great people only want to work with other great people” “Great people need to feed off other great people”
Messages & Learning's
Hire an advisor or board member first
Move to the market – keeper of the culture
Reference and more references Values and cultural fit important Network and build a culture of
talent pipelining
Andy Grove
“Critical to develop a top-notch executive team”
“the output of an executive is the output of her organization. Therefore, the primary task of an executive is to maximize the output of her/his organization”
So Who is On Your Bus?
Company X- A Market Leader comes to US
A Vicious Cycle
Unwilling to rationalize theHigh salaries in US- hire less expensive
Hire less expensive, often less skilled
Team made up of “B” and “C” players
Underperform comparedTo their “A” team competition
Home country executiveslose confidence
Less resourceprovided
The company underperforms
CEO suckedIn to try and fix- lack of local knowledge
Clean sweepof US
New Zealand Experience
Not always prepared or clear Remote leadership – Distributed
organizations – US experienced at this Unknown in a “Brand Conscious”
market place Location – Danger “Sticker shock” Cost of hiring and the Equity Blind Spot Follow through
It’s about Great Teams
Building the “A” Team in America – its Possible
Aspiration and serious commitment – move there
New Zealanders' are good – self belief You do not need star players in all positions Identify the critical roles Sales team that is competitive Connected rainmaker Give the authority Due Diligence is critical Local Board Develop your people
The Rules - Similar – But Different
So, What Can We Do to Hire the Right People?
America no longer has a monopoly on IP Accept it will take longer than desired Spend time in market and deploy a
process Pay for the best – Include ownership (real
equity – Vest over time) A Players hire A players. B players hire C
players Move a director/owner for a period of time Advisors and Board Members Pull the trigger
We Need a Process
A Process
1. Agree challenges facing the company (and executive) – What needs to get done
2. Be clear that there is need to hire executive for a function – don’t hire too early
3. What is the role 4. Acid Test = What behaviors and experience must be
present to achieve number 1 5. Target people where they will have the experience and
behavior 6. Interview and assess against the challenges facing the
company and the Acid Test 7. Reference and reference some more 8. Make a hiring decision Hire the best person for the next twelve months, not the
next three years
Candidate Value Proposition
Talent Pipeline
How to Build a Talent Pipeline
Level dependent Online recruitment services Social Networks - LinkedIn Referrals – Kea – NZTE Beachhead Direct – You target and approach –
Don’t underrate who you can get to Recruitment firms – Types – What to
watch for
Firing - Coaching and Firing
6 week gut check (“Warren Hellman) Coaching – from the beginning Fire crisply Avoid long transition periods -- tempting, but
counterproductive Make a clean break, put a new person in
charge -- even if only on an acting basis -- and get moving
Don’t feel guilty
Managing Your US Team
Lead your executives vs. manage Give your executives the latitude to run their
organizations Don't micromanage Hold accountable – metrics Be direct Communicate
Summary:Building the “A” Team in America
Deepening globalization Borderless business environment You do not need star players in all positions Identify the critical roles Sales team that is competitive Connected rainmaker Give the authority Due Diligence is critical Local Board Develop your people
Discussion Q&A