innovation strategies from new tech companies
TRANSCRIPT
Innovation Strategies from New Tech CompaniesSteven Huang
Median Growth: 15-40% Median Funding: 77m
What’s a “New Tech” Company?
Learning Objectives:
1) Differences in Engagement Scores
2) Why it Matters
3) Innovative Strategies to Consider Median Age: 8 Years
Median Size: 300 employees
2016 New Tech Benchmark150+ Companies; 100,000+ Respondents
50
60
70
80
Work Life Blend Teamwork & Ownership Innovation Leadership Learning & Development Collaboration & Communication Recognition
60.5
68.068.4
71.372.5
76.0
79.0
What’s special about New Tech companies?• Employees have a more positive perception at New Tech companies vs. Non-Tech companies
-5.7-4.7
-5.0
-7.0-6.6 -5.3
-6.8
New TechNon-Tech
Does it matter?• Engagement measures tie to business outcomes
Intent to Stay Pride Recommendation Motivation
+4 +5 +7 +9
Item:
New Tech:
1
Case Studies of Innovation Strategies• What does it take to emulate these strategies in other organizations?
Culture of Transparency
Employee Trust
Analytical HR Team
Full Lifecycle Analytics Yelp
Department Customization WhiteWave Foods
Quarterly Pulsing Optoro Logistics
Manager Accountability Cotiviti Healthcare
Executive Sponsorship
Employee Trust
Culture of Transparency
Analytical HR Team
Executive Sponsorship
WhiteWave Foods
Plant Based Beverages CreativeSupply Chain Sales FinanceAccounting
Career Opportunities Career Development Brand Connection Recognition Alignment Communication
Resource Allocation Feedback Decision Making Team Cohesion Accountability Autonomy
Accessibility Innovation Taking Action Accessibility Learning Opportunities Recognition
Leadership Information Customer Relationship Taking Action Work/Life Balance Personal Growth
Innovation Systems & Processes Systems & Processes Leadership Resource Allocation Work/Life Balance
Department Customization: WhiteWave Foods
Employee Trust
Culture of Transparency
Manager Effectiveness: • Recognition • Feedback • Prioritization • Clear expectations • Informed
Consider adopting for: • Diverse workforces • Making action plans relevant
at the local level
Additional Benefits: • Leaders listen to their teams &
craft flexible surveys
• Manager expectations are clearly set across the company
30 Day Mark Annual Final Two Weeks
17 Rating-Style Questions 4 Multi-Select Questions
37 Rating-Style Questions 3 Qualitative Questions
14 Rating-Style Questions 5 Multi-Select Questions
Analytical HR Team
Employee Trust
ExitOnboarding Engagement
Engagement Hiring Process Motivation to Join Tools & Logistics Enablement Initial Experience Learning & Development Collaboration & Communication
Engagement Company Performance Feedback & Recognition Enablement Leadership Learning & Development Social Connection Collaboration & Communication Alignment & Involvement Teamwork & Ownership Management Work & Life Blend
Engagement Motivation to Join Motivation to Leave Timing of Intent to Leave Learning & Development Alignment & Involvement Career Advancement Management Inclusivity
Full Lifecycle Analytics: Yelp
Join: Yelp’s Brand & Mission (67%)
Career Opportunities (+8)
Development of Skills (+7)
Access to L&D(+15)
Genuine Manager Interest in Career Development (+22)
Join: Yelp’s Brand & Mission (75%)
Onboarding: Tools/Logistics (90-96%)
Offboarding: Consider for <1 month; different career
Strongest Drivers (Correlation):
Long Term Career Opportunities
Opportunities for Development & Growth
Strongest Drivers (Correlation):
Training, Tools, Resources
Performance Goals
Information During Hire
Full Lifecycle Analytics: Yelp
Analytical HR Team
Employee Trust
Consider adopting for: • Visibility into workforce like no
other - the ability to answer any question that leadership may want
Additional Benefits: • Supplementing with
lightweight Manager Effectiveness assessment
• Seamless onboarding and exit survey program
ExitOnboarding Engagement
Quarterly Pulsing: Optoro
Focu
s on
Enga
gem
ent
Q1 Q2 Q3 Q4
Launch
Data Analyzed
Results Communicated, Reports Distributed
Decline in Attention
Pulse Pulse Pulse
Analytical HR Team
Executive Sponsorship
-10.0
-5.0
0.0
5.0
10.0
June September December
Quarterly Pulsing: Optoro
Consider adopting for: • Accountability • Steady growth/low turnover
Additional Benefits: • Engagement becomes a part
of business • Managers are empowered • Continuous feedback culture
Recognition
Management
L&D
Leadership
Analytical HR Team
Executive Sponsorship
Manager Accountability: Cotiviti
Salesforce
HR & Survey Team
Senior Leadership Team
Department Leaders
ManagersExecutive
SponsorshipCulture of
Transparency
Salesforce
Motivation
Pride
Understand Strategy
Work Alignment
Recommendation
Intent to Stay 25
24
20
19
17
13Consider adopting for: • Accessibility & Speed • Encouraging Transparency
Additional Benefits: • Continuous feedback culture • Engagement becomes a part
of business • Managers are empowered
Executive Sponsorship
Culture of Transparency
“The actions that will be taken to make positive changes in my work area have been shared with me”
Manager Accountability: Cotiviti
“New Tech”Playbook
The
Full Lifecycle Analytics Yelp
Department Customization WhiteWave Foods
Quarterly Pulsing Optoro Logistics
Manager Accountability Cotiviti Healthcare
Take Action
Questions? Connect: email: [email protected] linkedin: thestevenhuang
More Resources: www.PeopleGeeks.com People Geekly: http://bit.ly/pplgkly People Geek Slack Channel: http://bit.ly/pplgeekslack
Steven Huang Strategist, Data & Insights