Hiring: Just the Facts October 2, 2014

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 brand 60% of candidates that leave a job, do so because of a culture misfit A bad hire could cost between $ K (for someone making $ K) Source:

Best Practices: Have a hiring strategy Define the job before you define the personMake hiring a priority and move fastPay people what they are worthLook beyond the obvious

Always Have a Pipeline Employee referrals Network, Network, Network!  Events, investors, colleagues and friends  91% believe brand plays a key role Get the word out – Venture Loop, LinkedIn, Job Boards, Website  54% use social media, 72% use mobile devices when looking for a job Use an ATS to track the status of your candidates and your own recruiting metrics

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 market Objectives (2-3):  A top performing Market Operations Specialist will be able to increase yield by 10% after their first 60 days Competencies and Hard Skills:  Competencies: Takes Initiative, Analytical, Creative, Intelligent, Honest, Persistent, Intuitive, Organized  Hard Skills: Looker (or similar), Salesforce, Excel, PowerPoint

Look Beyond the Obvious Value potential over experience Don’t just look for Stanford CS grads who look like you Go 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 pool

Need for Speed Be prepared to SPRINT every time you meet a candidate Assume everybody you talk to has 3 paper offers in hand You have 5-10 business days from first meeting someone to having a firm yes or no Never 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”

Engineers Know What They are Worth Factors that Drive Initial Response Significance of Regression Coefficient Initial Salary Offer Number of Competing Offers Personal Message Is Top Company Message from Engineer/Foun der

Salary Ranges 17% 31% 37% 14% 8% 24% 45% 23% 7% 21% 41% 31% 29% 40% 24% 7%

Equity Ranges 1.3% 29% 30% 33% 9% 15% 2% 51% 9% 23% 8% 62% 10% 9% 6% 3%

Perks Can Add 30-40% to Base Pay Most Valued: Great medical insurance, including dental and vision Generous life insurance and retirement plans Paid vacation, more vacation, sick time Flexible scheduling What Else: Opportunities for professional development and continuing education Salary raises and bonuses Discounts on products and services Source: 2014 Mercer Survey, undercoverrecruiter.com, Entreprenuer.com :

Final Thoughts Your first engineers are CRITICAL Hire the most experienced (and expensive) talent at the beginning, when the stakes are the highest Hire people who are passionate about your business – focus on culture-fit first Be respectful and make each candidate feel unique Realize that hiring well is a full time job Make recruiting your #1 priority to grow your business!

Thank you

Appendix

Most Popular Coding Languages of 2014