How to Attract and Retain Top Personnel

Monday, May 7North America CACS 2012

Derek Duval, CPCDuval Search Associates

www.duvalsearch.comderek@duvalsearch.com

IT Audit Market – Past, Present, & Future

• Early 1990s: Steady growth as IT Audit field becomes more diverse and robust.

• Mid-Late 1990s: Hot market fueled by internet boom creates large gap between supply and demand for IT Auditors.

• 2001-2002: Mini-recession, barely felt by IT Auditors.• 2004-2008: The Sarbanes-Oxley “avalanche” creates

unprecedented shortage of qualified IT Auditors.• 2009 to mid-2010: Party over. Mega-recession, significantly

narrows supply/demand gap, IT Audit market is flat.• Mid-2010 to 2011: Rebound. Demand for IT Auditors

bounces back much more quickly than the general employment market.

• 2012: Demand for IT Auditors again far exceeds supply.• 2013 – 2015: Attracting & retaining top IT Audit talent will be

increasingly challenging.

Current Market: Indicators & Trends

• Budgets are replenishing, and projects are coming off the shelf.

• Management’s view of technology as area of increased risk.

• The “Big 4” barometer.• Candidates are receiving multiple offers, and

counter offers are back in vogue.• The bar is “returning to normal”: 70-30 rule

Career Motivators• Impact (seeing measurable positive results

of your efforts)• Challenge (constantly acquiring and

applying new skills)• Quality of Life (flexible hours, short

commute, family considerations, etc.)• Mobility (career paths available; not

pigeonholed)• Relationships (being mentored, mentoring

others, workplace friendships)• Money (more is better…)• Authority (becoming a manager/director of

others)• Stability (reasonable to expect your status

with current employer is solid for next 2 years)

Generational Issues

• “Baby Boomers” (born pre-1965) in hiring positions must adapt management style to attract & retain “Generation X” (1966-1980) & “Millennials” (1981-2000).

• Boomers are not retiring at expected rate, creating “opportunity gap” for Gen X & Millennials.

• Defining a Successful Hire:– Length of stay– Impact within department– Impact beyond department

Identifying Candidates(Traditional Methods)

• Depends heavily on Human Resources Department to source potential candidates

• Post position on your organization’s career site• Post position on Job Boards (Monster, CareerBuilder,

Dice, Indeed, etc.)• Post position on ISACA & IIA local or national sites• Search Job Boards for active candidates, and reach out

to generate interest• Ask current team members if they have anyone to

recommend

Identifying Candidates(Progressive Methods)

• Depend on your own efforts to attract candidates.• Attend events (ISACA, ISSA, IIA, etc.) and engage in

proactive networking.• Motivate current team members to produce Referrals• Development of Internal Candidate Pipeline• LinkedIn– Connections– Groups– Job Postings– Discussions

Recruiters• Ask about track record of successfully filling positions

similar to your opening.• “Describe your process for identifying potential

candidates.”• “How will you determine which candidates to

recommend and which to screen out?”• “Tell me about a time when you facilitated a

successful placement that would not have happened without your involvement.”

• Specialized, Experienced, Build Trust over Time

IT Audit meets Marketing

• Internal Audit Intranet Site• DVD showcasing Internal Audit personnel,

including testimonials from Audit “Customers”• Handouts for candidates showing list of audit

“alumni” - including tenure in audit, and where they’ve moved on internally.

• PPT presentation showing positive changes implemented in the company as a result of audit’s efforts.

Selecting Candidates

• HR Groups – too much power, too little value?• Pitfalls: – Slow process– Too many, and/or wrong people involved– One-sided

• “Traditional” Interviewing• “Progressive” Interviewing• Case Studies

Example Interview Questions

• What adjectives or characteristics come to mind when you think of the kind of people you like to work with?

• What do you enjoy the most about your work?• What do you think are some of the top concerns in

the IT Audit profession? • What have been your three highest IT Audit

priorities during the last 12 months? How did you determine these priorities, and where do you stand in terms of addressing them?

Retaining Top Talent

• Impact• Challenge• Quality of Life• Mobility• Relationships• Money• Authority• Stability

Show Me the Money

• Competitive Compensation• Bonus Incentives• Internal Equity Issues• Salary Compression between Senior IT

Auditors and IT Audit Managers

Open Communication and “Tone from the Top”

• Communication savvy and emotional intelligence separates

those who climb from those who stall in the IT Audit world.• Strong performers have high expectations of individual and

team performance and want to know:– Where they stand within the department– How their efforts relate to the organization’s overall mission

• Top employees appreciate leaders who ask for constructive feedback on individual and group management style.

• “What Keeps You Awake at Night?”• “What Gets You Up in the Morning?”

Meaningful Work

• People want to feel respected, valued, and believe that what they do makes a difference.

• Empower each employee with a sense of ownership and autonomy.

• Loyalty increases when employees are recognized for individual as well as team efforts.

• How much time do you spend addressing problems and correcting mistakes, as opposed to acknowledging contributions?

Training, Development, and Career Pathing

• Training: What do you offer? – External: • Conferences, Seminars, ISACA Chapters

– Internal: • Team member takes lead on training• Brown Bag with Vendors?• “Celebrity Lunches” with Audit Clients

• Mentoring• Career paths beyond audit

Flexible (and even fun?) Environments

• Flex time • Telecommuting• Casual dress• Travel Perks• Soft time• Do the Unexpected

Proactive Leadership Questions

1. Do you meet regularly with your team to encourage and contribute to their success?

2. Do you brainstorm with your team to find creative solutions to problems, working in their ideas?

3. Do you give credit to those deserving and acknowledge their contributions appropriately?

4. Do you know what responsibilities and opportunities your team wants, and are you helping facilitate those goals?

5. Are you open to upward feedback from your team, asking them to provide constructive input about your leadership?

6. Do you provide training and continuous learning opportunities for your team?

7. Are you aware of important milestones in your team’s personal lives, and do you acknowledge them appropriately?

Summary• Attracting, Selecting, & Retaining top talent:– Is essential to success– Requires constant effort– Will be increasingly challenging for the foreseeable future– Is potentially the most rewarding aspect of your position

• Clarify how you define, measure, and acknowledge success in your department.

• Improve your process for attracting and selecting people who are a cultural fit.

• Strive to create an atmosphere including more open communication, empowerment, and flexibility.