8/3/2019 CFI November 29 Cofounders Hiring and Firing_Bratton
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Alex Bratton, CEO & Chief Geek Of Lextech Global Services
Cofounders, Hiring and FiringThe most important decisions you will make for your business
G L O B A L S E R V I C E S
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In the beginning
G L O B A L S E R V I C E S
✤ Articulate a vision that capturesthe passion of the people youare looking to hire.
✤ Learn to sell the aboveeffectively. (Second City)
✤ Most important talent to sourcefrom day one is...
✤ How to decide if you need in-house vs. outsourcedengineering, marketing, etc.
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Do you need a cofounder?
G L O B A L S E R V I C E S
✤ Are you lacking a key skill orcompetency that is core to your business?
✤ Sharing the risk and rewards.
✤ Date before you get married.
✤ Vision of today and future must be 100% in sync.
✤ Induce fake chaos to gaugereaction to stress.
✤
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What recruiting budget?
G L O B A L S E R V I C E S
✤ Get people to pay you to work there.
✤ Attend industry events to meetnew people.
✤ Steer clear of recruiting/staffingagencies who charge a % of every successful hire’s wages.
✤ Ask mutual friends forintroductions via LinkedIn.
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Conducting thorough interviews
G L O B A L S E R V I C E S
✤ Watch for negative gut reaction.
✤ LEGO Mindstorms todemonstrate ability to ramp upquickly with new technology.
✤ Group games, like HALO, toreveal communication andleadership skills.
✤ Let team test for culture fit.
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Conducting thorough interviews
G L O B A L S E R V I C E S
✤ Is the candidate comfortablewearing many hats?
✤ Compare your favoritecandidate to at least one otherviable candidate.
✤ Trial periods.
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Determining compensation
G L O B A L S E R V I C E S
✤ Variable compensation is thenew normal.
✤ There are some people youwon’t be able to afford andthat’s a good thing.
✤ Be very careful with equity.
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Setting expectations
G L O B A L S E R V I C E S
✤ Clear deliverables and desiredoutcomes with MEASURABLEsuccess criteria.
✤ Change is constant.
✤ Expectations are linked tocompensation.
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Measuring performance
G L O B A L S E R V I C E S
✤ Performance reviews > 2/yearwhile the business is small anddynamic.
✤ Metrics updated daily orweekly.
✤ Reward systems that encouragehigh performers.
✤ Culture that puts peer pressureon poor performers.
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Firing the slackers
G L O B A L S E R V I C E S
✤ If they’re wrong, they’re gone.
✤ Always have a 3rd party
present.
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Firing the slackers
G L O B A L S E R V I C E S
✤ You owe this to your highperformers. Promise a work environment where they will
not be burdened by theincompetence or laziness of others.
✤ Gets easier when you realize
what the wrong person iscosting you, your team and thecompany.