Recruiting and Retaining the Right Executive Talent
Feb 12, 2024
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Hiring executives can be daunting for founders. In this podcast, a16z talent partner and executive search process experts discuss assessing talent, measuring success in talent assessment, referencing, personal growth vs. mistakes, vetting EQ, hiring veterans for startups, talent landscape in 2024, recruiting top talent in a tight market, and the value of tough feedback.
Executives should be evaluated not only on functional capabilities but also on intangibles and soft skills.
The Mock process, which focuses on defining mission, outcomes, and competencies, enables effective evaluation of executive candidates.
Deep dives
The Executive Recruiting Process Demystified
Matt Oberhart, talent partner at A16Z, discusses the executive recruiting process. He emphasizes the importance of focusing on intangibles and soft skills in addition to functional capabilities when evaluating executives. The role of a talent partner is to be an advisor and counselor rather than a traditional recruiter. Matt also highlights the significance of cultural fit, retention strategies, and the importance of building relationships with executives.
Matt's Role and Time Allocation
Matt spends approximately 40% of his time working with portfolio companies, 40% with the executive community, and 20% on veteran community engagements. The allocation can vary week by week. He tracks his time and energy to ensure a good balance and prioritizes meeting new executives, sustaining relationships, and providing guidance and support during search processes.
Measuring Success and the Mock Process
Success in Matt's role is measured through metrics related to building and sustaining executive relationships, providing counsel and introductions, and adding value to search programs. The Mock process, which stands for Mission, Outcome, Competency, is an effective framework for executive hiring. It focuses on clearly defining the mission, desired outcomes, and necessary competencies, enabling more effective evaluation of candidates.
Assessing Fit and Reference Strategies
Assessing fit goes beyond traditional interviews and involves creating real-world working situations to test candidates. Matt emphasizes the importance of putting candidates in situations that mirror the challenges they will face in their roles. He also highlights the significance of referencing, not just to validate experience but also to understand how individuals work with others. Using referencing as an ongoing process throughout the interview stages helps gain insights into a candidate's fit.
Hiring the right executives at the right time is the key to scaling your company. But to many founders, the executive search and hiring process can feel like a black box. a16z talent partner Matt Oberhardt dives deep into the executive search process with Kelli Dragovich and Nolan Church on the HR Heretics podcast.
[00:01:21] How a16z talent partners assess talent
[00:03:42] Balancing internal and external roles
[00:04:57] Measuring success in talent assessment
[00:06:07] The MOC
[00:10:29] Whiteboard sessions for assessing fit
[00:13:10] Referencing as a continuous cycle
[00:16:47] Putting negative references in context
[00:20:25] Assessing personal growth vs. mistakes
[00:21:50] Establishing trust with founders
[00:25:03] Vetting EQ
[00:26:53] Measuring success of what you can't control
[00:28:43] Why hire veterans for startups
[00:33:45] Talent landscape in 2024
[00:35:20] Recruiting top talent in a tight market
[00:38:42] Hiring the "operational glue"
[00:39:36] The value of tough feedback
You can read the key takeaways from this conversation, along with a transcript, here.
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