Snapchat, it’s time for a talent optimization triage.
Greg Barnett, Ph.D.
Chief People Scientist & Sr Director of Product @ Energage | Innovator | AI Whisperer | SaaS Advisor
A recent article on Recode explained that in the last 18 months, Snapchat has had massive turnover at the executive level. At least 10 executives who reported directly to CEO Evan Spiegel left the company. High turnover at the top is brutal to a company. It tells the world: “Even these highly-paid people aren’t willing to stick around.”
Digging a little deeper, we can see that Snap’s problems trickle down to employees at lower levels. Snap has a paltry 3.0 Glassdoor rating. Forty-three percent of employees approve of Spiegel while 44 percent would recommend the company to a friend.
When the captains of the ship jump overboard, the employees will too because disengagement and turnover are contagious. Where will they go? Well, Snap’s competitor Facebook starts looking pretty good with its 4.4 Glassdoor rating, 94 percent CEO approval, and 87 percent willingness to recommend to a friend.
With high executive turnover, low employee engagement, and a declining stock price, Snap and Spiegel are in a world of hurt—and it’s likely costing them tens (if not hundreds) of millions per year.
So what’s the solution to Snap’s woeful problems? A gut reaction might be to bring down the axe and send Spiegel packing. And on the surface, this seems to be a reasonable solution.
But there’s a better way to solve Snap’s business challenges...
Talent optimization is the solution to Snapchat’s business woes.
I’m talking about talent optimization—in this case, a talent optimization triage! Ideally, Snap would bring in Gordon Ramsey to implement its talent optimization triage because some yelling might be necessary. (Kidding.) What’s really needed is a good talent optimization consultant, a willing CEO, a pissed off board, and some elbow grease.
To learn how to take a talent optimization approach in seven steps, continue reading on The Predictive Index