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APEX - How to Attract Top Talent

  1. How to Attract & Retain Top Talent in the Payments Industry Presented By: Marc Badalucco, Head of Sales IMPACT Payments Recruiting
  2. KEYS TO SUCCESS IN ATTRACTING & RETAINING TOP TALENT IN THE PAYMENTS INDUSTRY…what we’ll cover.  I. Market Intelligence – What Employees are seeking  II. How to Recruit Top Talent  III. So, now you've hired them – NOW, how do you KEEP Top Talent?
  3. What are today’s Employees seeking? Based on IMPACT Payment’s 2015 Employment Survey America has a near record 5.6MM job openings – Payments Industry alone will add more than 700k jobs by 2020! 1. 63% Compensation 2. 43% Non-Monetary Benefits (e.g. PTO, Flex work hours, Stocked Kitchens, On-site Daycare, Community Outreach) 3. 35% Leadership 4. 20% Growth (personal & professional)
  4. COMPENSATION  BE IN THE KNOW! It’s important for hiring managers, HR, and recruiting partners to know the current market, and how cost of living could potentially differ if needing to relocate.  Not surprisingly, top talent wants to get paid for their work. This doesn’t always mean paying top dollar on the front end. Simply put, Employees want to be compensated commensurate to their work and there are multiple factors to meet those expectations, such as:  Salary – base on expertise, not gender or age  Uncapped commissions  Bonuses – based on company and personal metrics  Equity – RSU’s, Options
  5. Cost of Living in USA
  6. Non-Monetary Benefits  Unlimited/Flexible PTO  Work remote options  On-site Daycares  Flexible spending program  Company Swag  Company discounts  Casual dress code  Flexible working hours  Autonomy  Professional Development/Culture  Stocked kitchens  Community Outreach  Incentives (e.g. trips, outings, etc.)
  7. Leadership  YOU, the BOSS, ultimately hold the key to success for attracting AND retaining anyone you hire.  Cut the “red tape” – Employees trust and respect leaders who are open and allow their employees to offer feedback.  Make your expectations clear!  Roll up your sleeves and find ways to succeed together!  Create a solution-oriented culture. Open door policy is good, but if leadership isn’t conveying this type of culture, it can be perceived the wrong way.  Reward accomplishments – large and small.
  8. Growth PERSONAL: • Paid college tuition • Consistently being challenged • Always learning and expanding skills – through PROFESSIONAL:  Mentorship Programs  Constant coaching and development through feedback of Leaders and colleagues.  Vivid understanding on where one can go within company from current role.
  9. RECRUITING TOP TALENT We’ve gone over what Employees are seeking…now what?
  10. PLAN, PLAN, PLAN!  Most critical step most commonly overlooked is clearly defining roles with everyone involved in the recruitment and interview process.  Understand your value proposition – you’re being interviewed by the candidate as much as you’re interviewing them.  Create a detailed, and catchy Job Description followed by conducting a thorough job intake – regardless if you’re using internal or external recruiters  Know the quality of your marketing campaigns and which sources you plan to use to attract candidates.
  11. RECRUITMENT/HIRING PROCESS  Use OWN NETWORK first and foremost. This will lead to the best talent you know and trust.  Look to hire motivated employees – it’s the most important thing you cannot teach. People simply have this or they don’t. If planning to use an Internal recruitment team and want to find the best, make sure you take time to train them on the role, and industry.  Tips (if using internal help):  Explain what you are seeking - show sample profiles  Make sure they know who your competitors are  Understanding of what your products/solutions offer and why they are competitive in today’s market.  Questions to ask/metrics to use to help vet out candidates who are blowing smoke during screenings.
  12. RECRUITMENT/HIRING CONT…  Only engage a third party recruitment firm IF you’ve exhausted your own network, are on a deadline, or need industry expertise your internal employees simply cannot offer.  Make sure to perform due diligence on third party firms and make sure they ask to go over a thorough job intake.  Don’t engage in multiple contingency firms. Rather find a true partner who intimately understands your business and the roles you need to fill. A third party firm is ultimately an extension of your brand. Choose wisely!
  13. Retaining Top Talent Keeping Employees Happy for the Long Term
  14. RETAINING TALENT  Replacing employees is EXPENSIVE. It can cost an employer 6-9 months’ salary to replace someone making $40-60K…Executives earning over $100k can cost up to 213-250% of their salary...just to find someone else! Lose expertise, productivity, money on advertisements, recruiting fees, on-boarding, training, lost engagement (e.g. other employees who see high turnover tend to disengage and lose productivity), and overall cultural impact.  Don’t assume your Employees are happy – create a high feedback environment  Make sure to acknowledge all accomplishments 1-on-1 and to the team/company  Create a fun, inviting culture. We spend more time at work than home. If you’re not having fun and love what you’re doing, why are you doing it?  Implement ideas you receive from the team in a timely manner.  Conduct exit interviews. Let’s face it, no one is perfect – but everyone can always improve. Find out what’s led to some turnover so you can implement a solution proactively to increase retention.
  15. Marc Badalucco, Head of Sales & Business Development 480.307.9010 (w)|480.586.6142 (m) | marcb@go-impact.com
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