Want to learn the best business insights from remarkable speakers at Slush 2023, but don’t have the time to watch the full speeches on YouTube?
You’ve come to the right place. Below is a summary of a speech by Vidya Peters, CEO of DataSnipper, who has been a C-Level executive at 3 highly successful scale-ups - two of which IPO'd, hiring VPs/SVPs and Executives for those teams
(psst: the notes were automatically generated with Wudpecker's AI notetaking tool. If you'd like to check these notes + transcript + audio recording without needing to log in, press here.)
<p class="h1-rich">🤏 TL;DR</p>
A speaker with experience in hiring and building teams emphasized the importance of hiring more senior leaders when there is stalled growth, bottlenecks, or challenges that the current team is struggling to overcome. They advised taking the time to define what "great" looks like for the role, leveraging personal networks and referrals to find suitable candidates, and involving different stakeholders in the interview process. Action items include identifying challenges and bottlenecks in the company, assessing whether strategic goals require unique expertise, and clearly defining what great looks like for each role before starting the hiring process.
<p class="h1-rich">✨ Summary</p>
Introduction and Background
- The speaker expresses gratitude for being at the event and introduces themselves as someone with experience working in various companies and industries.
- The speaker emphasizes their passion for hiring and building teams, considering it the most challenging aspect of their career.
When to Hire
- The speaker suggests that the need to hire more senior leaders arises when there is stalled growth, bottlenecks, or challenges that the current team is struggling to overcome.
- They mention that hiring more senior talent may be necessary when strategic goals require unique expertise or when there is a need to address skill gaps and adapt to change.
Starting the Hiring Process
- The speaker advises taking the time to define what "great" looks like for the role and articulating the specific skills, values, and outcomes required.
- They emphasize the importance of specifying the must-have skills, sharing company values, and defining metrics of success in the job description.
- The speaker encourages hiring managers to take ownership of the hiring process and not rely solely on recruiters and search firms.
- They suggest leveraging personal networks, engaging mentors and investors, reaching out to potential candidates on LinkedIn, and using referrals to find suitable candidates.
Qualities to Look for in Candidates
- The speaker highlights the importance of intellectual curiosity, grit and resilience, high trajectory, and evidence of impact in assessing candidates.
- They discuss the trade-offs between hiring for experience and hiring for talent and suggest finding a balance based on role requirements, team diversity, and long-term goals.
Red Flags to Avoid
- The speaker cautions against candidates who speak negatively about previous employers, have a history of short stints in jobs, exhibit an overly individualistic mindset, or ask generic questions during interviews.
Interview Panels and Onboarding
- The speaker recommends involving different stakeholders in the interview process, including the hiring manager, functional peers, cross-functional peers, and direct reports.
- They emphasize the importance of onboarding new hires effectively, aligning on vision and values, providing context and support, and mapping out their first 60 days in the role.
- The speaker also stresses the need for ongoing management, regular check-ins, and calibration to ensure alignment and success.
Dealing with Hiring Mistakes
- The speaker advises assessing whether a hiring mistake is due to a skills gap, cultural fit problem, or performance issue and addressing the situation with candid communication and timely action.
- They emphasize the importance of helping the person transition out of the company with respect and dignity.
- The speaker reiterates that hiring is the most important job for managers and encourages them to invest time and effort into the process.
- They emphasize the need for effective onboarding, ongoing communication, and the willingness to acknowledge and correct mistakes.