Welcome C R E AT I N G A W I N N I N G C O M PA N Y C U LT U R E B E F O R E W E G E T S TA R T E D All our lines are muted to avoid background noise Type questions into Chat box on the bottom of the ReadyTalk widget Q&A will be at the end of the presentation JANEL LAO Senior HR Manager at Jobvite RUSTY LINDQUIST VP of HCM Strategy, IP and Product Marketing at BambooHR Economic Landscape HR today sits smack-dab in the middle of the most compelling competitive battleground in business, where companies deploy and fight over that most valuable of resources—workforce talent Matthew D Breitfelder HBR: “Why did we ever go into HR” Talent Deficit Unemployed 4.7% May, 2016 EMPLOYED! 95.3% “This is a war for talent” Steven Hankin McKinsey & Company Shrinking Tenure v 91% 91% of Millennials expect to stay with your company fewer than three years – Future Workplace v 1yr Among the jobs that 39-44 year olds began, one third ended in less than a year – Forbes 2yrs 43% v v Average tenure for Millennials is years (5 years for Gen X and Gen Y) – Payscale 90v 200% Cost of replacing an employee is between 90% - 200% of their annual salary – SHRM Increased Competition HUMAN CAPITAL is quickly becoming the only sustainable source of competitive advantage @rustylindquist –Bersin by Deloitte People need to believe and feel confident in your product and brand TIPS FOR BUILDING AND PROTECTING CULTURE Take risks and be vulnerable Allow yourself to be innovative Cultural Undercurrents People are infectious, so when hiring, ask yourself how will they infect your organization, for good or bad @rustylindquist Signal to Noise Ratio HR needs to be less optimized around processes, policies, and procedures, and more around people, productivity, and performance @rustylindquist Respect your employees’ personal lives Stories are the mortar by which reality is built, and life’s true architects are those who tell the strongest stories @rustylindquist Educate all employees on how they contribute to the success of the company HR needs to build storytelling as a core competency if it ever wants to truly increase its influence @rustylindquist TIPS FOR MEASURING CULTURE • • • • • Employee survey What others say? Glassdoor reviews Length of retention Feedback from exit interviews HUMAN CAPITAL is quickly becoming the only sustainable source of competitive advantage @rustylindquist Q&A ... Deloitte – Ram Charan Best-selling Author & Business Advisor Evolution of HR High-Impact HR H Strategic HR as a strategic investment Business Value Operational Transactional HR HR viewed as a cost... job and company in the right space to target the candidate profile you are seeking Assess for culture fit, then the job Over a third of job seekers with a college education value company culture. .. | © BambooHR Micro Small Mid Large © Culture First Following a national survey of job seekers and HR professionals, 43% said that “cultural fit” was the single most important determining factor