Recruiting has never been easy in SaaS. In the past, it was difficult simply because there were not enough experienced candidates. Today it is difficult because there are 1000x more SaaS startups before. It has always been difficult.
But it’s not necessarily harder – it’s just different. And the key to winning top talent is knowing what they really care, not just what you think they care about.
With that, Women in Revenue had a great recent 2022 annual report that you should download here on how things have and haven’t changed in the workplace since Covid, The Great Resignation, and more.
Some important takeaways:
#1. Transparency of compensation information is the #1 concern. So many startups mess this up, but you can fix it now. This week. First of all, it should be noted that only 42% of female executives believe they are sure of being paid in the same way as their male counterparts. It’s a huge problem. Go fix it. Now.
Second, many of us are concerned about being completely transparent when it comes to compensation. It’s time to get over it. You should at least assume that everyone knows each other’s compensation and, better yet, be able to share as much as possible. The #1 concern was the lack of transparent compensation information. Fix that today. And make 100.00% sure that women are paid the same as men in your organization today:
#2. 21% of women in pro-serv and rev ops roles report sexual harassment. It’s really tragic. And a quarter of women in professional services and tax operations roles listed sexual harassment as one of their top three challenges.
This is a vast subject, and partly beyond the scope of this article. But let me give you at least 3 tips.
- First, if you are not already doing so, immediately implement a zero tolerance policy for any type of harassment.. Don’t let jokes, sexist comments slip. Be thoughtful and very careful about team events, especially since we all go back to them. It may seem easy to make an exception here or there to avoid confrontation. Don’t.
- Second, make sure you have a thoughtful, approved, and open process for reporting issues.. So many startups just don’t.
- Third, and IMHE this is perhaps the most important of all, don’t let a gender imbalance get worse. I’m no expert, but I see far fewer problems in start-ups with a gender balance close to 50/50. It doesn’t eliminate harassment or other problems, but it certainly seems to at least reduce some of them. It entrenches bro culture and other issues by design. Even today, most sales teams are 80% male, and many early-stage development teams are about the same. Sometimes that’s where you end up for the first hires. That doesn’t make it okay, but if that’s your case, take action ASAP and fix it. There are over 100 benefits to doing so.
As founders, you need to be relentless to root out harassment. If you don’t, at least in my experience, it can get worse. Even and perhaps especially if you do not realize it or do not see it.
#3. 49% of their respondents plan to quit in 2021. 49%. So it’s time to fix the problems. Not later.
#4. Flexible working hours are very important, but working from home alone is not a total panacea. Interestingly, the #1 and #2 benefits female SaaS executives sought were the ability to work from home and flexible work hours:
But only 36% said working from home was positive for their career and 32% for their personal life.:
A vivid reminder to be extra vigilant as we return to both the office and a variety of hybrid work styles. That simply letting people work from home on certain days, if not every day, is not a magic answer to improving work-life balance. Go further. Iterate on this new work, this new office, this new meta work environment. Repeat this several times until you get it better and most of your team is comfortable and happy.
#5. Women in Revenue gives us a great checklist. Go through this 6-point checklist with your team. What can you improve today? This month? This trimester? This year?
-> Maybe improve the 6 this year. And some… right now:
Download the full report here!
Posted on April 9, 2022