14 Mar Silicon Slopes: How Hiring Well Affects Revenue Growth for Tech Companies
On this episode of the Revenue Growth University podcast, Dr. Amy Osmond Cook, CMO at Simplus, and Joe Carr, vice president of talent, sat down to talk about how tech companies can grow revenue by hiring well. While sales and marketing are primary sources of revenue growth, most don’t think about the hiring process that goes on behind the scenes that can make a huge impact on that growth. In the end, it’s all about the people you have on your side; attracting and retaining talent can grow your revenue just as much as your sales and marketing.
Amy: How do you source talent at Simplus?
Joe: One of the biggest challenges we face in the market, and this is across the board in the tech world, is the skills shortage. Salesforce is not alone in this. Every tech company, every software firm, has the same challenges. There are nearly 600,000 open IT positions in the US alone right now, and it’s a challenge to find the right people. So we focus more on the individual, the personal connection, rather than a list of qualifications. We’re looking for people we can trust to put in front of a client. We’re not just looking for expertise in technology but for a consulting skill set. How someone presents and handles themselves. [The] final interview stage here at Simplus is a presentation on any topic they like. Doesn’t have to be about technology, it can be about anything. That gives us a chance to see how they react to questioning and [how] they present and [and gives us a] taste of what their lives are like.
Amy: How is this creative hiring process affecting Simplus’ revenue growth?
Joe: Because Simplus is a very fast-growing company, we have to keep pace in terms of hiring. Without the best people or the ability to hire quickly, we can’t grow. It’s just not possible. So what we have to do is link it in with what’s attractive. Every successful tech company out there is offering amazing money and certain key things, but one of the things we love to offer is incredible flexibility. We offer remote work, an amazing culture, and enormous opportunities. So a lot of the winning intangibles are helping us attract talent. This company is an easy sell.
Amy: What can tech companies do to attract the right talent that will positively affect their revenue growth?
Joe: The biggest thing today is the ability to be flexible. The ability to have work fit in around your life, rather than your life fitting around your work. It’s imperative to give your people a good work/life balance and give them whatever hours they need to get the jobs done. For example, I’m in the UK and my day starts at about 12 noon, and I’ll finish whenever I finish for the day. And as long as I get my work done, Simplus doesn’t care where I am or what I’m up to provided I produce. Believe it or not, remote workers with scheduling flexibility are 50 percent less likely to quit. Being micromanaged and having people on your case all the time does not make for a healthy work environment. And it doesn’t help foster any kind of growth including revenue growth. Here’s another stat for you: One out of every three new hires in the tech world quit after about six months in today’s market, which sounds crazy, but it’s true.
To hear more, listen to the podcast here.