How to keep top talent in Silicon Valley
Answerlab, based in Silicon Valley, delivers digital insights for the world’s leading brands. The company has 35 employees and in 3 years they have had zero turnover. How has this been achieved? The CEO Amy Buckner Chowdhry firstly relies on a one page strategic plan with monthly reporting. The team knows “who owns what” and everyone’s progress toward their goals is clearly monitored. AnswerLab then operates on 6 core values:
- Build trust
- Provide amazing service
- Jump in to help others
- Handle change with flexibility
- Embrace new technology
- Figure it out and get it done
Team members are recongnised for demonstrating these values through quarterly awards (gift certificates of $50-$100).
Answerlab then goes further through its Talent Plan that focuses on 4 core areas:
- Career with career path, annual 360s and quarterly reviews.
- Learning:AnswerLab University helps new recruits get up to speed – ongoing presentation skills training benefits all and one hour learning lunches every other Friday keeps everyone learning. To encourage exploration of new technologies, AnswerLab also reimburses employees up to $400 for software or digital products annually.
- Wellness:Everyone gets a Fitbit pedometer connected with an online leaderboard so all can see who’s clocking how many miles. This promotes more “walk and talk” meetings. The company also reimburses for gym memberships,
- Impact:AnswerLab’s Giving Back strategy is entirely employee driven with a three pronged approach: group volunteer time, research expertise (a white paper available for non-profits), and financial support for select non-profits.