How does Google "Google" its talent pool? Know the answer to that question here!

Tuesday: Return Driven Strategy From the desk of Miles Everson: Hello! Happy Tuesday and welcome to today’s edition of “Return Driven Strategy (RDS).” For those of you who are not yet familiar with this, RDS is a pyramid-shaped framework with 11 tenets and 3 foundations. When applied properly, these principles help businesses achieve their organizational objectives. Today, let's delve deeper into the 9th tenet of RDS (Engage Employees and Others) through the lens of a particular business case study. Are you ready? Read on! CEO, MBO Partners Chairman of the Advisory Board, The I Institute

ANNOUNCEMENT Did you know that 11% of all American workers—a staggering 18.1 million—are digital nomads? For those of you might not know, digital nomads choose to combine working remotely and traveling for various reasons and lengths of time. If you want to know how this once-fringe lifestyle has surged into the mainstream, please read MBO Partner’s latest report on the topic. This is an essential read for both professionals and corporate leaders as it sheds light on the growth, demographics, skills, satisfaction levels, and policies surrounding digital nomads. Besides, now that the world of work has truly shifted, there’s no going back… and for us to understand these changes, we need to take a closer look at the rise and popularity of the digital nomad lifestyle. We hope you’ll find our latest report helpful and insightful. Happy reading! How does Google "Google" its talent pool? Know the answer to that question here! Once upon a time, human resource (HR) professionals were seen as mere pencil-pushers and paper-shufflers, condemned to a life of just filing forms and enforcing dress codes. Thankfully, the times have changed. At present, HR professionals are part of the unsung heroes of the modern workplace. They wield their influence to shape company culture, support employee growth, and keep the wheels of the business turning. Why has HR become more important now than ever? That’s because in a world where company culture can make or break an organization, HR’s role in building and maintaining a strong, vibrant culture is invaluable. They’re the driving force behind the remote workforce, employee well-being, talent management, diversity and inclusion, and organizational culture. Simply said, HR helps in creating workplaces that are productive, engaging, and inclusive… and that’s something all of us can benefit from. In today’s article, let’s look at the important role of HR in this particular tech company… “Just GOOGLE it!”: A Look at this Tech Giant’s HR Strategy Google covers about 92% of the world’s search market. As the “most popular search engine in the world,” it’s no wonder why SEO specialists seek out any available piece of information about Google’s ranking algorithm. Others also go to Google to search for news, images, videos, and scholarly articles. … but did you know that aside from these things, Google is also good at managing its workforce? The company has shown that it relies on innovation in every aspect of its business, including HR. In fact, apart from Google’s technological capabilities, innovative and efficient HR is the reason that it has acquired as much success and fame. When it comes to keeping employees happy, Google believes in nothing less than the best. The focal point of the company’s HR strategy is maximum care and assistance so that employees can work with dedication. A well designed training and performance management system ensures everyone receives appropriate guidance and support. Let’s take a look at the various aspects of Google’s HR strategy: Innovative and Employee-friendly Work Culture Google’s success is partly because of its culture and work environment, and HR plays a major role in sustaining these things. The company’s organizational structure supports a system made to pursue innovation by formulating policies that hire and retain the best talent. The tech giant’s focus on HR management is exceptional. Recruitment and Staffing The main focus of Google’s recruitment policy is to have the RIGHT person in the RIGHT position. Sources say that more than 400 internal and external recruiters were working to hire new “Googlers” in 2009. These recruiters are well paid professionals, many of them external recruiters. In 2012, the number of new recruits Google hired was more than 8,000. Recruiters focus on hiring staff that are highly talented and culturally compatible with the firm. Google believes that the more culturally compatible its employees are, the higher the overall productivity of the organization. Performance Management Google’s HR function handles a major responsibility and therefore its size is also larger than average. Throughout the various stages from hiring to performance management, Google cares for equity and believes in providing each “Googler” with equal chances of growth and development. The rewards for good performance are quite big and there is a downside to being an underperformer. In order for “Googlers” to perform at their best, managers and leaders make sure they are properly managing each of their subordinates’ performance. Training and Development Google has created a work environment that fosters continuous learning. This includes special training programs related to presentation skills, content development, management and leadership. Free classes in foreign language and culture are also provided to Google employees. What’s more? There are special reimbursement plans for Google employees who want to pursue further education! For example: The Stanford MS program is designed to cater to the needs of engineers needing technical expertise in a specific area. The full cost of this program is shouldered by Google. Aside from that, the firm’s global education leave program allows up to 5 years of leave and reimbursement of up to USD 150,000 for employees who want to take their education further. Google’s HR Strategy and Return Driven Strategy’s (RDS) Tenet 9 According to Professor Joel Litman and Dr. Mark L. Frigo in the book, “Driven,” it’s important that companies also think of their employees as customers. In their words: “Firms with the highest levels of returns build offerings for employees that help them to fulfill their unmet needs. Employees provide their time and effort in exchange for what the firm offers them, something that includes compensation, but requires more than that.” This is what we’re seeing in Google’s HR management strategy. By implementing various programs and policies related to the workforce, Google is able to build a generally conducive work environment and culture, and stand out in the area of human resources. The result? The RIGHT employees and the RIGHT roles become genuine assets to Google’s plans and implementations, both of which are necessary to driving high returns. Keep these important insights in mind! Also, if you’re looking to gain a better understanding of Return Driven Strategy and Career Driven Strategy, we highly recommend checking out “Driven” by Professor Litman and Dr. Frigo. Click here to get your copy and learn how this framework can help you in your business strategies and ultimately, in ethically maximizing wealth for your firm. Hope you found this week’s insights interesting and helpful.     EXCITING NEWS AHEAD The world of work has shifted, and there’s no going back. The barriers to entry have never been lower for talented professionals to work independently, and today’s massive external workforce is hardly a pandemic-produced fad. Business owners can only survive in the new work landscape by partnering with this deep talent pool. With decades of experience in both small-business entrepreneurship and executive management at PwC, I truly believe that the future of work is independent. With that, I’m happy to share with you that my book, co-authored with Walter Scott Lamb, is now available for pre-order on Amazon! Free Birds Revolution: The Future of Work & The Independent Mind This is an essential read for both independent professionals and corporate executives. Here, we provide educational and practical guides to unpack the ever-growing workforce and offer you crucial ways to become a client of choice. Click on the link above to pre-order your copy. Let this book help you future-proof your career and organization in the new world of work.     Embarking on an adventure, either alone or with the people we love is like unlocking a world of endless possibilities. Learn more about AirBnB’s rebrand in 2014 through the lens of RDS in next week’s article!