Serent Capital 2019 HR Summit

Serent Capital 2019 HR Summit

HR leaders within the Serent portfolio came together for two days to share their insights on the topics that matter most to them and learn new strategies on how to improve their organization.

November 12, 2019

Serent Capital’s HR Summit was recently held in September. It was filled with two days of bright minds sharing insights into the industry with topics ranging from how to improve office culture to the best ways of optimizing healthcare offerings. It was a chance to have round-table discussions and learn from industry veterans about how to bring your Human Resources department up to speed with the latest in industry practices and technology.

“What’s the most crucial factor in meeting these company performance goals? It’s the day-to-day performance of the employees.”

The summit focused on several facets of the industry:

 


Tools and processes used for successful recruiting: Serent’s HR summit launched with a presentation, by Serent’s own, Rebecca Granne, on recruiting. She emphasized how vital it was to have a structured approach to hiring the right person. Rebecca guided attendees through a case study from ArbiterSports on the 9-step process they developed, to help mitigate the risk of hiring the wrong person:

1. Complete job description
2. Preliminary interview
3. Email sample
4. 1st Secondary interview – Focused on the candidate’s background
5. 2nd Secondary interview – Focused on the role
6. Presentation webinar
7. Referral call
8. Share findings and make decision
9. Inform candidate and close

This process involves multiple levels of interviews, a test of one’s writing ability and the completion of a presentation webinar. Referral calls are then made to solidify a candidate’s potential. All of this data is gathered and used to make a well-informed decision on the candidate’s fit for the role.

 

How to create a performance-driven culture: Companies and their executives are measured on performance—maximizing growth and profit. So what’s the most crucial factor in meeting these company performance goals? It’s the day-to-day performance of the employees. The Senior Vice President of People and Culture at Compeat shows how they focus on appreciation to improve the employee experience and integrate talent discussions into their business review that happens every six months. These talent reviews:

  • Align an organization’s talent strategy to its business priorities
  • Use a nine-box grid to discuss employee performance plus potential to be a leader
  • Define succession plans
  • Identify top training/development and reward planning actions across the company
  • Pinpoint critical roles by functional teams to support business the next 6–12 months

These strategic talent reviews also help a company retain the right employees and position them into leadership roles where they can have the biggest impact. A talent SWOT (Strengths, Weakness, Opportunities, Threats) analysis is used to discover recommendations and strategies to help achieve a company’s talent priorities. Focus on leveraging strengths and opportunities to overcome weaknesses and threats.

 

Optimizing healthcare offerings in small companies: According to the 2018 KFF Employer Health Benefits Survey, the average annual premium for family coverage as well as single coverage has risen by over 200% in the last twenty years. So healthcare costs are an important factor for any organization. Three ways to develop a strategy for healthcare coverage were discussed: program optimization, vertical programs and leveraged sourcing. Program optimization means they analyze each portfolio company’s programs to identify conversion opportunities, which typically addresses a high level of spending with immediate savings and minimal change to employees. Vertical programs aggregate spending and requirements across many clients to build new program offerings. Leveraged sourcing increases the combined purchasing power of the Serent portfolio to create immediate value. That translates into custom-sourced contracts that deliver a superior value to what a company can achieve on its own or by working through a consultant.

 


Our HR summit was a productive and insightful two days of presentations and open dialogue. We highlighted best practices to move your organization in the right direction, whether it involves healthcare coverage, culture management or recruitment. Once again, this year’s HR summit was a success and we hope to see you at our next one.

“Program optimization means they analyze each portfolio company’s programs to identify conversion opportunities, which typically addresses a high level of spending with immediate savings and minimal change to employees.”

Our HR Summit is just one of six executive summits we offer to our portfolio of companies. Learn more about how we partner with our companies to create a network of peers that provide insights and tactics to fuel growth.

Learn More About Partnering with Serent

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies.

Disclaimer:

Nothing presented herein is intended to constitute investment advice, nor sales material, and no investment decision should be made based on any information provided herein. Information provided reflects Serent's views as of a particular time and are subject to change without notice. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. While Serent has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Past performance is not indicative of future results. There can be no guarantee that any investment strategy employed by Serent will be successful. A full list of portfolio holdings is available on Serent's website.