HR Issues in a Startup w/ Rob Siegel
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HR issues in startups, including hiring the right team and splitting equity w/ Rob Siegel, General Partner, XSeed Capital, Lecturer at Stanford GSB Rob will cover best practices, common mistakes and tips that startups should take into account during their recruiting and hiring process. Topics covered will include: - Recruiting & retaining technical talent - Outsourcing - Managing contractors - Other HR issues important for startups
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HR Issues in a Startup w/ Rob Siegel
- 1. HR Issues In a Startup : Team, Talent, Make/Buy/Rent, and More…. Robert Siegel Lecturer, Stanford GSB General Partner, XSeed Capital @robsiegel Stanford Graduate School of Business 18 February 2016
- 2. Stanford Graduate School of Business Agenda The Executive Team Technical Talent Compensation Philosophies Best Practices
- 3. Stanford Graduate School of Business Who Am I?
- 4. Stanford Graduate School of Business Agenda The Executive Team Technical Talent Compensation Philosophies Best Practices
- 5. Stanford Graduate School of Business Executive Staff Your ability to scale is directly related to the capability of your direct reports - Hard to get stars if you are unproven Think athletic team Vice Presidents - Marketing - Sales - Engineering/CTO - Product
- 6. Stanford Graduate School of Business Outlier Leaders Executives who come later Game changers Fixers Smaller pieces, bigger pies
- 7. Stanford Graduate School of Business Agenda The Executive Team Technical Talent Compensation Philosophies Best Practices
- 8. Stanford Graduate School of Business Managing the Technical Function Make or buy or rent Can you judge the deliverables? Throwing away the MVP Finding a technical co-founder - And if you’ve never worked together before…
- 9. Stanford Graduate School of Business Truisms All that matters is if the product works and is on time Hire people who have delivered and shipped product before Development includes customers, product/market fit, QA, scalability
- 10. Stanford Graduate School of Business Agenda The Executive Team Technical Talent Compensation Philosophies Best Practices
- 11. Stanford Graduate School of Business Paying Your Team Pay what is fair (cash and stock) Don’t overpay and don’t underpay Assume comp is an open book There are best practices – you don’t need to reinvent the wheel
- 12. Stanford Graduate School of Business New Hires – Seed Stage Non-founding CEO – 4.0% to 8.0% VPs – 1.5% to 3.0% Directors – 0.5% to 1% Managers – 0.2% to 0.4% All others – < 0.2%
- 13. Stanford Graduate School of Business New Hires – Series A Non-founding CEO – 4.0% to 6.0% VPs – 1.0% to 2.0% Directors – 0.4% to 0.8% Managers – 0.1% to 0.3% All others – < 0.1%
- 14. Stanford Graduate School of Business New Hires – Series B Non-founding CEO – 3.0% to 5.0% VPs – 0.75% to 1.3% Directors – 0.3% to 0.6% Managers – 0.1% to 0.2% All others – < 0.1%
- 15. Stanford Graduate School of Business Other Data Sources and Perspectives… Title Range (%) CEO 5 – 10 COO 2 – 5 VP 1 – 2 Independent Board Member 1 Director 0.4 – 1.25 Lead Engineer 0.5 – 1 5+ years experience Engineer 0.33 – 0.66 Manager or Junior Engineer 0.2 – 0.33
- 16. Stanford Graduate School of Business How to Divvy Up the Pie… Classic startup – founders • Not all equal • Experience, background, skillsets Mix of title and position is less of an issue with a founding group • Aforementioned variables more important It’s all about “t-comp”
- 17. Stanford Graduate School of Business Holistic POV Investors Employee pool • It needs to be refreshed after each round if you take venture money • You will be diluted; get comfortable with it Founders • What’s left over… • You will be diluted; get comfortable with it
- 18. Stanford Graduate School of Business Other Special Attributes of Executives Early exercise • Tax benefits Vesting schedules • Accelerated vesting upfront if a founder • Acceleration on acquisition (double trigger)
- 19. Stanford Graduate School of Business Agenda The Executive Team Technical Talent Compensation Philosophies Best Practices
- 20. Stanford Graduate School of Business Best Practices Startups are not democracies HR from Day 1: Informal feedback 360 degree reviews Scott Brady methods
- 21. Stanford Graduate School of Business Other Random Insights Your team is a reflection of you You never heard anyone say, “I’m glad I kept that person around for an extra six months…” How the CEO keeps his/her job If there is a problem with the business, figure it out before your Board does