How Revolut Made 10k Hires in Just Two Years — Jonathan Beaney (Revolut)
44m 43s
In the discussion, Jonathan Beanie highlights the recruitment challenges faced at Revolut and the solutions implemented to enhance the hiring process. He emphasizes the importance of measuring interviewer performance and ensuring a focus on both candidate quality and interviewer quality. Additionally, Revolut developed Revolut People, an ATS that evolved from a performance management tool to manage various HR functions. The company measures talent density using a five-point scale assessing performance, skills, and cultural values, aiming to continuously optimize recruitment processes and employee performance. Beanie also discusses the importance of aligning recruitment processes with the required skills and job roles to identify and hire the best candidates. Overall, the focus at Revolut is on data-driven decision-making and continuous improvement to ensure the company's talent acquisition and retention strategies align with its goals.
Transcription
8883 Words, 51047 Characters
Hi, I'm Catherine Friend and this is hiring all cylinders. Powered by the higher community,
we explore bold and fresh perspectives to help you build exceptional teams and scale
with purpose. So today I am joined by Jonathan Beanie, who is head of talent acquisition
and talent operations at Revolut. Jonathan brings a wealth of high stakes and high scale
experience. First in the military, then Amazon and is now leading the charge of recruitment
at Revolut. At Revolut, he's been driving recruitment at extraordinary pace and scale
while keeping an uncompromising quality bar, which is exactly what we're going to dive
into today. So Jonathan, I don't want to take too much away from your introduction. So thank
you so much for joining me today. I would love to just get a little bit of an introduction
of that journey and what you've been doing most recently at Revolut.
Yeah, for sure. So joined the military in the UK. So from the UK originally joined, did
about 10 years in the Royal Marines traveling around the world, doing some super interesting
things. But there came a point where I definitely wanted a different challenge and found myself
very quickly on the Amazon military pathways. So they've got this great transitionary pathways
for those that have served in the military wanting to move more into the corporate world.
I was based out of Spain working there. So did that for about three years and focusing
on customer fulfilment. So the operation side of things that essentially gets your packages
from the internet to your door, which was super interesting. And like you said in the
intro, high stakes and high pressure environment, but very kind of familiar for someone that's
coming from the military. And then was approached by Revolut, also based in Spain and been with
them for about three and a half years now.
Great. Fantastic. And I'm glad that resonated in the introduction. So I was always glad to
know and I've got that right. So obviously brought in into Revolut, come from a different
background as you mentioned there, which is really, really interesting. So when you landed
in Revolut, what did you first see in that hiring process that needed fixing? Like what
was the immediate thing that jumped out to you?
When I first joined, it was definitely a transitionary period where you had to ask a lot of pretty
basic and seemingly common sense questions to get for me to get an understanding of how
the wider talent acquisition machine worked, but also talent acquisition specifically to
Revolut worked. And I remember one of the first things I focused on when I first joined
the company was product and design hiring. So for us at Revolut, we have two pillars
to our success. We have the best people, we have the best product on the market. So product
and design hiring kind of made those two things coalesce into one project. We need to hire
the best product owners, we need to hire the best designers out there. And the first problem
I very clearly saw was we had a huge focus on the quality of the candidates we were bringing
into the process, but we didn't have as much of a focus on the quality of the interviewers
that were doing that interview process. So there's obviously two sides, we obviously
do all our interviews virtually, there's two sides to the screen. You've got the candidate
and obviously we place a huge focus on how good they are and do they meet our talent bar,
do they have their skills at exhibit, but then there's also the interviewer. So how effectively
they're running an interview, how effectively they're assessing the skills, are there any
gaps in their assessments and all that sort of stuff. So one of the first projects I worked
on in the work, one of the first problems I'd like to think I solved was how do we measure
interviewer performance particularly within the product and design function and then how
do we continuously monitor that to ensure that the people that we've got, the people
we're putting in front of those candidates are the best possible people to make those
assessments. And then obviously we can come on to talk about it, loads of different ways
of measuring that and measuring how interviewers are performing and how the candidates, they
put who the process performed, but that was one of my initial focus areas of switching
focus also on to the other side of interviewer performance.
So trying to solve two really interesting challenges at the same time. How did you bring,
I think it's something that we talk about in general, don't we, with them bringing the
hiring teams on side and building that credibility with them and obviously to move them forward
and understand that the way that they were assessing maybe needed some work. Like how
did you bring them on that journey?
So you've got to speak the language, so you've got to have data at the forefront of all the
arguments you're using and any of the problem statements you're putting in front of people,
have them backed up with kind of irrefutable data. So one of the things we looked at was
segmenting employee performance into the five performance buckets we've got, Revolute and
then overlaying the interview process on the performance of those individuals. So essentially
trying to identify the people who were consistently not meeting our talent bar, what recruitment
process do they go through? Who did they go through? Like who was the interviewer? Who
assessed their skills? What skill did they assess? And at what level? And then try to
identify any patterns. And then what you can do is you then go to your key stakeholders
in this instance within the product and design function and say, you've got employee X or
employee Y who over the last six months has interviewed a dozen people, they've come into
the business. So we've said they're good enough to join the company, we've come to the business
and then you as the ultimate person that measures people's performance, you've said they're
not good enough. So there's a disconnect here. And the disconnect is quite clearly in the
way in which the skills being assessed and the way in which we're allowing these people,
not allowing, but getting these people into the business then bring them in. So then using
that kind of relatively logical or hyper logical and objective argument is you go, okay, yeah,
now we've got a problem. And then as soon as you've identified that problem, a more collaborative
approach to driving the solution. So I don't think you really need to convince people much
more of the fact that ultimately your success in the business is driven by your people,
you need to have the best people. So if we've agreed that these people aren't performing,
we've agreed that the interview process isn't significant, isn't strong enough, sorry, to
assess the right skills that we need them to have them coming to the business is only
going to be a detriment to your goals and objectives. So let's work together to build
a better interview process or let's work together to build a better interviewer training package
or work together to identify better interviewers who can come and assess the skills that you
need to be able to achieve your goals. Okay, great. And then obviously a key well function
and platform within the recruiting process is the ATS. So how you know, I know that you've
shared with me before that Revolute actually built our own ATS, which is really interesting.
So how did that decision come about? Like, why was, why was that a key move for Revolute
and what changed once Revolute owned that system from end to end?
Shameless plug, Revolute people, the best product out there. So it started as a performance
management tool. So this is this predates my time at Revolute. But I've worked closely
with the product owner who owns to this day the Revolute people. So I know quite a lot
about the history. But we used to run performance when we were a very small company, we used
to run performance as lots of small companies do offline. So make sure of Google Sheets
and various different kind of shared drives to measure people performance and measure
their impact to the company. So the first necessity came from a performance management
tool. Can we build our own product which measures performance in the manner in which
we measure it? So by that, it's quantifiable quarterly impact. So KPIs, goals, projects,
and how do you progress versus those and then also your skills. So each role at Revolute
and each specialization at Revolute has a defined competency matrix and the skills that
you're supposed to hold at the different seniorities. So we wanted to measure the company at the
time wanted to measure all of that. So we built product Revolute people that then kind
of grew arms and legs and turned into an HRS. So managing our onboarding, managing our off
boarding, managing our payroll, managing all those different kind of supporting functions
from an HR perspective. At this time, I joined the company, we were still working with Lever
as our ATS. And then the final kind of piece of the jigsaw was, okay, let's build our
own ATS on top of this. Why? Because you can then close the loop between skill assessments
from current employees and candidates. So you make this one kind of continuous performance
evaluation from skill interview X, skill interview Y, all the way through to a person's performance
review in the company for those same skills. So being able to match all of that up then
gives you this feedback loop that you can then use to constantly improve both your interview
process but then also the way you're assessing skills in the business.
Great. Okay. And I guess like looking back at that, like if a company was to implement
an ATS, I've looped people otherwise. What are the top factors that they should consider
when hiring at scale, in your opinion?
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The first and foremost is to start thinking about the skills you need and the jobs you
want people to do and try as much as possible to quantify because as soon as you have a relatively
kind of loose definition or kind of just general terms of I want someone to be good at problem
solving, actually work out at defining what good looks like for you as a problem solver.
Set clear expectations and kind of tangible skills or deliverables you need to say that
that person's good or bad at problem solving. And then map those to the individual job families.
And then once you've got that clear of like what the skill sets and at what level you need
to deliver what you need to deliver as a business, then start working on your recruitment process
and then ensure that your recruitment process in a MISI manner so collectively exhaustive
manages to measure all of those skills to ensure that the people you're bringing into
the company hold the skill set that you now have agreed or previously agreed in the company
that you need. And then only through making that connection between your recruitment process
and the skills you actually need to do the job, can you identify the best candidates and
then be able to also continuously improve in what you're assessing in the interview process
you're bringing in place.
Makes sense. And going back to your point that you said about like closing that loop
and being able to see everything from like and like when did you feel that like shift
when you know particularly when we talk about the problem you mentioned earlier, when did
you feel that shift in what decide like what started to change once that was in place and
set it up?
The shift really started when we worked within a single HRS ATS because the quality of data
we started to get had massively improved. So you could then take any employee within
the company and you can understand through every single interview stage and every single
performance review they receive within the company how they performed versus the same
set of skills. So you've got that commonality. So being able to have that data set this huge
data set for every single person within the company and every single candidate that's
gone through our process just meant that we could then really shift our focus on improving
the manner in which we're assessing skills both within the company, which is kind of
my talent operations side, but then also within a recruitment process, which is the
talent acquisition side and then be able to use examples in the company of exceptional
performers and really understand why are they exceptional? What's making them so exceptional?
What skill have they got or what cultural value have they got that really sets them apart
from their peers? How can we assess for that in the interview process? But then also the
other side of things like who doesn't do so well in the business or who doesn't do so
well in the interview process? What the skills they lack, what the cultural values they perhaps
don't exhibit and then using that as well to really double down on what you want to
be assessing and how you want to be assessing in the recruitment process in the company.
So I think the critical point was putting that all in one place and being able to have
access to all of that data as opposed to when I first joined, which was you need to pull
data from Lever, then translate it into your kind of terminology in the way things were
working in Revolut people for the performance side of things and then trying to make the
two talk to each other when it became one language. That was a shift change.
Makes sense. And how I guess with that whole process, I mean it's really interesting to
hear how it all interlinks, but on a day-to-day scenario, obviously with Revolut changing as
quickly as what you mentioned and skills also developing really, really quickly, like how
do you continuously keep that relevant and I guess up-to-date with the skills and as
the business continues to develop? So we hold a Revolut, we've got a company
level KPI, which we call new joiner performing plus. So what that focuses on is measuring
your talent density at the six month mark of people joining the company. We take the
six month mark because obviously people of depending on the jurisdiction, people have
different probation periods, but the latest being six months. So if we measure everyone
at the same time, at least you're measuring them all at the same point within their kind
of employee journey. So that's kind of the top level KPI that we look at, how, what percentage
of people at six months are promoters versus detractors? So for us on a five point scale,
if you're a three, four or five, you're a promoter, if you're a one or a two, you're
a detractor, which sounds pretty harsh calling someone a detractor, but from a calculation
standpoint, that's how it would work. Makes sense.
And then what we do is we have a team of ops managers who work with me within the talent
acquisition space and also within the talent operation space who focus on optimizing and
improving that KPI. So that can be anything from going back to what first is what we discussed
in the first question around interviewer performance within a specific job function.
Okay, so I see that the talent density within function X has decreased over the last six
months. Why is it decreased? Well, actually, it's interviewer performance has decreased
and they're no longer assessing skills in a way they need to be assessing. Okay, let's
completely transform that. Or it could be that the job, the job's changed and the requirements
for the job's changed. Okay, so let's look at the competency matrix of our product designers
or our product owners. What's changed? What's the new skill we now need people to have to
exceed within the role? Okay, let's update the competency matrix. And then as a result,
let's update the recruitment process. So I have a team that are focused purely on optimizing
for that KPI is hyper targeted. So obviously we've got 22, I think 22, 23 different job
functions. We can't focus on 22, 23 different job functions at any one time. But every quarter
when our data refreshes, we run quarterly performance cycles, every quarter when our
data refreshes, we'll look at who are biggest promoters, who are biggest detractors. And
then this team will focus in on those two areas to really understand how we can continue
to optimize for that KPI. Makes sense. And with talent density, like opposite something
that's discussed in a lot of business now, is there a certain like way in which you've
defined that at Revolute? Is there anything in particular that you feel really stands
out there for all your organization, comparison to others? So the way we measure talent density
in the company is exactly the same as the one I just mentioned with NJP plus new joining
performing plus is just we just call it nips. It's an individual form score. Everyone's
measured against the same five point scale. So unsatisfactory developing performing exceeding
exceptional one through five. And then the way we measure the talent density within the
company is exactly the same as the way we measure it the six month mark. So if you're
a three, four or five performing exceeding exceptional, you're a promoter. And if you're
a one or two unsatisfactory developing, it's considered a detractor. And then we'd work
out the percentage of and we use that percentage as an indicator of talent density within the
company. That's like the top level. Use the same for all employees as NJP plus is the
six month mark. We actually have a higher target within NJP plus than we do with the
wider company. The rationale for that being that we should only be ever we should only
ever be bringing people into the company who raised the bar. And therefore, how do we measure
that? Well, they need to be better. That cohort needs to be better than the average within
the company. Because that's the way you know that you're consistently improving. And then
within the assessment methodology, we measure deliverables. So how people are performing
versus their KPIs, their goals or the projects they need to deliver, we measure their skill
competency. So exactly the same as a recruitment process like what the skills and their competency
matrix and how they're performing. And that the expectations are set by a seniority. So
I'm not expecting the same level of problem solving from a junior operations manager as
I am from a like a lead level operations manager. So they're assessed versus their skills as
per their seniority. And then we also assess for cultural values. So people's adherence
to our ways of working our cultural values, which we kind of quantify through value based
behaviors. So the behaviors we want to see people exhibit in their day to day work. So
those are the three data points we use to measure talent density or to conduct performance
reviews. And then the output of the performance of users talent density within the company
and within the new joint performing plus cohorts. Talking through that process of sorry, a lot
of different elements that really feed into it to make sure you're bringing that quality
by in revolution also scaled incredibly fast. So how have you, well, you know, I think you've
mentioned in previous conversations that not only have you scared, scared with fast, you've
solved that problem, qualities improved. How have you managed that balance because there's
obviously a lot that's fit into that that we've that you've just ran through. But the
volume of hiring that you've been doing at Revolute, particularly the last few years has
been quite astronomical. So how have you managed that?
So I think step number one is to have buy in across the board from the business. So this
goes back to one of the things we were discussing earlier of making sure you're talking the
business is language. Our language at Revolute is data and KPIs. So every single head of function
who are the people who are responsible for kind of setting the bar within their job functions,
they own a KPI that goes into their quarterly performance view, which is focused on not
only talent density within the company, but talent density within the cohort of new joiners
and also the volume of people you're bringing into the company. So they hold those three
KPIs which are deliberately kind of add an element of friction because I'm measuring you
on quality, but I'm also measuring you on quantity. So you need to bring in enough people to meet
the business need, but you also need to make sure they're all good. So the business kind
of the heads of function of the business leaders hold that. I hold both those KPIs for the
whole company. So the overall volume of people we're bringing into the company, but also
the overall quality of people we're bringing into the company. And then with that kind of
mutual buy in and the fact that our performance reviews and the way we kind of are measured
rely on that straight away and then speaking the same language and straight away you're
then aligned in terms, aligned in terms of the goals. In practical terms what that means
for us is we focus a lot on latency and velocity through the interview process. So how quickly
can we run our interview process? So we'll work with those heads of function and saying,
look, I need more and I need better interviewers because at the moment calendar delay within
this interview stage is too high. And if we're going to meet our volume goals, I need to
make sure that we can bring that calendar delay down by two, three days because when
I extrapolate that over the number of interview stages you want to put this person through
because you've agreed on the interview process that we're using. It's just going to be too
long and we're not going to meet our volume goals. So the ability to kind of talk that
same language and have that buy in from them is critical.
Absolutely. I think like to that point that you mentioned there, because I think, you
know, from just thinking of some of the challenges that often come up, like we know that quality
of higher is that and quality of higher is obviously a key metric. Time tie is another
one that a lot of businesses focus on, but we know there's also a lot of internal factors
that really impact that with, I really like the way that you've described that there in
terms of like helping hiring managers understand like that pain point of slowing things down.
If there's like resistance there, like how do you and your team kind of overcome that?
Or is it, or is it goes back to that buying piece you mentioned before?
So in terms of when we do meet that resistance, that's when the creative problem solving starts.
So to give you a real example, our sales organization is going crazy. So we've gone from Q2, we had
to hire around 600, 650 people. This quarter we've hired, the goal is to hire around 1300
people. So in the space of three months, hiring demands doubled. So obviously, if you think
like start then digging into that problem, you've then got everything around interview
capacity, sourcing capacity, people at the top of the funnel conversion rates about the
funnel talent density within the markets, because you're working in the similar sort
of markets, but you're now doubling your hiring needs. So that that's a real challenge that
you're facing. So you may read resistance of we can't get enough of people's time to
conduct the interviews we need to commit, because obviously they've got a day job, like
they aren't full time interviewers, their sales managers or account executives that
needs to be out there doing their job. Okay, so if that's resistance and completely valid
resistance that you're meeting, what are the other problems that you or what the other
solutions you can bring to the table. So we've tried lots of things of like asynchronous
interviews using different interviewer platforms to do video interviews, doing consolidated
kind of assessment days. So you do back to back interviews. So you would just say to
a hiring to a interviewer, I just need a five hour block from you in a whole week, manage
the rest of your week to accommodate that. But within those five hours, we'll conduct
as many interviews as possible. So we'll do all the background work of screening candidates,
teeing everyone up so that within that consolidated period of time, you can conduct as many interviews
as possible. And there's lots of other different solutions that we've implemented within this
specific example to to kind of overcome the resistance, which, like I said, completely
valid, but you need to do it to meet the business needs. And then also within a specific example,
it's quite easy, because as in it's quite easy to articulate it to the business because
an account executive, you can very easily quantify their work by revenue. So you can
turn around and say, Okay, for every hundred account executives, I don't hire you. This
is the impact on your KPIs. This is the impact on revenue you're going to generate. And straight
away, you can find that's very incentivising, particularly for someone working in sales.
Yeah, I can imagine. And I know that you've used things like ideal candidate profiles
and CV scoring. So how, how did tools like that support you, particularly in these sorts
of examples with being able to move faster whilst not sacrificing that quality bar? And
how did you guard against risks?
Great question. So ideal candidate profiles for us, they're built on the specialization
level. So essentially, what we've done is, let's pick my job family, so operations manager
core. So we've, we've looked at all the best operation managers across company, all the
worst operations managers across company, and then defined what are the traits that
we want to see and what the traits we don't want to see that then all gets built into
what we call an ideal candidate profile. So it could be a target university list, it
could be a target company list, it could be skills or things that they've exhibited
within their CV or projects or whatever that may be. And then using AI that we've got within
Revolut people, we'll then use that to, and this is the critical part, we don't use it
to automatically screen people out, we use it to automatically provide people with a
numerical score. So they'll get a score from one to 100, 100 being the dream candidates
and one being probably not a right fit for us at Revolut. And then we use that to stack
rank and focus our attention of where do we need to be screening and putting candidates
through the process. So last year alone, obviously this year TBC, but last year alone, we received
1.8 million applications. And this was before we had the CV screening, this ideal candidate
profile operationalized. So I'm sure that within those 1.8 million candidates, we missed
out on some great candidates purely because of volume and human constraints. So now, if
out of let's use 1.8 million again, if out of those 1.8 million candidates, I see there
are 200,000, which based off of all the data points I've got of strong performers in the
company, we're saying you're going to be brilliant hires, I'm going to be exceptional people,
we can focus our attention on that. It doesn't mean we ignore everyone else, doesn't mean
we kind of miss out on those really unique profiles that can add value in a different
way. It just means we can be hyper focused in when we like resource constrained, we can
be hyper focused on those individuals. And then obviously we measure the performance of
our ideal candidate profiles throughout the interview process and throughout the business.
So I'll say that this candidate was a brilliant hire, they scored a 90 out of 100. But actually,
they're failing this interview round. So what's the problem? Is the problem the interview
rounds poorly assessing them is the problem that the ideal candidate profile is wrong
is the problem that maybe we need to be adjusting the interview or whatever it may be. So again,
data measuring the performance of all those different candidates and the categorization
of those candidates through the recruitment process and through the business helps us
to continuously improve. So it's not that we use AI to make decisions for us is that
we're using AI, particularly within those two realms to kind of hyper focus our attention
because we're just working at volumes that are that are pretty crazy.
Yeah, and I think, you know, suppose I was at the second part of my question, in terms
of like, how do you how do you manage those risk like buy it? So it does, it does make
sense. And because I think obviously with AI and stack ranking right now, I think there's
a little bit of nervousness about like, how how you effectively implement that. So it's
interesting to hear like, how you're looking at but then also how you're constantly teaching
and improving it as well. Is there any like advice from what you've learned again from
like that for the stack ranking that you've been doing and like, again, not removing the
humans from the process. But how would you advise other leaders who may be thinking of
doing the same.
So it's exactly the same as I mentioned around coming into the business, I'm trying to challenge
everything. So here, if you think through the example we're talking around of like, providing
a numerical score to a CV, the foundational block of all of that is the ideal candidate
profile. So there's the assumption that that is right, that what we're saying is what we
want, but challenge that and consistently challenge that because if you see any of the
metrics, like the downstream metrics of interview conversion rates, performance at NJP plus
performance within the business, if you see any of those deviating from what you want to
see, challenge that ICP and challenge, actually, do I want someone that's got STEM degree from
a top 15 university? Actually, do I want someone that's come from consultancy? Do I want someone
that's come from private banking? Challenge all of those kind of assumptions. Because
as soon as you kind of blindly accept that something is gospel, you could only be reinforcing
failure and reinforcing things that you don't want to be seeing. So is that ability to just
consistently challenge in this instance, the ideal candidate profiles and what you're
saying good looks like?
And I just want to kind of touch on the rollout of these things. Like, you know, when you're
looking at these systems, when you're looking at these processes, but you mentioned obviously
getting buying at the very start, I'm going to come back to that point. How do you drive
adoption in such a fast moving company where technology is constantly changing, demand is
constantly growing? Like, sounds like there's a lot of that this is like a continuous process.
It's not just a one and done. Like how do you bring that along? How do you bring I guess
the whole team and business on that journey with you?
Yeah, again, great question. So I'd say that there's two sides to it. You've got the business
side of it and the TA side of it. So adoption within the business side of things is really
helping people articulate the positive impact it's going to have. So to go, let's continue
talking about ideal candidate profiles. I need the business on this one. I need the key
stakeholders and the gatekeepers of engineering, product, operations, design, marketing, whatever
it may be, I need the key people within those functions to give me those ideal candidate
profiles. We'll make proposals, we'll say this is what we think we should be sourcing
for, but ultimately it's up to them to decide. So I think it's critical to be able to articulate
the positive impact it's going to have for them, i.e. bringing better people into business.
How do we measure better? Well, increase the talent density, increase the skill set, increase
the deliverables, whatever that may be. So again, going back to one of the things we discussed,
talk their language and get buying from them. And then critically, and I think sometimes
it's even harder buying from the talent acquisition function because recruiters, sources, coordinators
who are kind of our three key pillars within the TA function, crazy busy people working
with huge volumes, managing lots of candidates, and it's a very frenetic pace they're managing.
So as soon as you bring in a change, you can invariably, you'll find that some people are
resistant to that change, another change, another thing I've got to do, another thing
that's going to make my life harder, which is a completely normal reaction. So there
it's on me and on the ops team that work within the talent acquisition space to articulate
the benefit to them. Why is this better for you? Why does this make your life easier?
So actually, by stack ranking CVs and having you guys focus on people that we're saying
are brilliant and good hires, you actually need to do fewer screen calls. Why? Because
conversion rates go up. Therefore, you need in order to hit your 10, 15, 20 hires a quarter
whatever we've set as a goal for you. With higher conversion rates, you need to put less
volume into the process. You need to do fewer interviews. And straight away, as almost the
light bulb moment for them of going, Oh, great, this is now a more efficient way of working.
If you just push out change for change's sake, we're doing this, we're doing that. It will
be met with resistance because these are exceptionally busy people. So you need to be able to show
what's the personal benefit to them. How are you making their lives easier? And this is
another point. If it's not making their lives easier, why are you doing it?
Well, exactly.
And I think being critical with yourself on why are we doing this change and ensuring
that's kind of the focus. Then that's the way you get the buy-in from the TA function,
which like I say, is a lot of times harder than the business.
Yeah, I can imagine. We've also talked previously about like, I guess I talked about the busyness
of the team. We've talked about how you've set up a capacity model to balance that supply
and demand. Can you give us a little bit of a run through of how that works in practice?
Yeah, cool. So the currency at Revolute that we talk about when we talk about talent acquisition
is a requisition. So there is a mutually agreed business need that we need someone. Why do
I say it's mutually agreed? Because when a requisition gets raised at Revolute, it goes
through various layers of approval, which might sound bureaucratic, but it's critical
to really understanding if it's needed and being able to keep us lean and challenge.
So that's the head of department. So ultimately, the person that's going to consume that resource
to deliver what they need to do. The head of function, who's the gatekeeper of quality
and talent within a specific function. And then our like staff costing organization to
make sure it's aligned with our projections and our budget. So as long as those three people
are all aligned, a requisition gets approved. And that's now our building block is a requisition.
What we then do is we work as with the rest of the business, we work on quarterly cycles.
And what we'll do is we'll define what's the current backlog of requisitions that we have
in the organization that have been approved and agreed. And we do that every, we obviously
measure it constantly, but we kind of do a data dump every three months when we're setting
targets for the next quarter. We'll then look at how many people we're expecting interviewers,
sorry, recruiters to hire and how many people are expecting sources to source. And then
we'll overlay the two. So we'll say this team based off the backlog has a target of hiring
100 people. I know that the individual hiring target within that team for this level seniority
might be 10. Okay, simple maths, I need 10 people. However, what we then also do, because
we're revolting around bishops, we'll overlay historical performance. So I'll know that
people may be historically perform at 120% of the KPI. So instead of hiring 10 people,
they're actually hiring 12 people. Okay, let's provide people with the runway to overachieve
their KPIs because then that obviously brings with financial rewards and growth and progression.
So actually what we'll do is we'll take historical performance overlay that and then ensure that
we have enough people in the team to meet the business need, accommodating for historical
performance, and then also providing them runway to overachieve. Because what we don't
want to do is get into a position where I over staff a team, everyone hits their KPI,
but they haven't got the open requisitions to continue to grow and continue to push forward.
Thankfully, it's not a problem we ever have because pretty much invariably, we've got
more business demand than we can service with intelligent acquisition. But that's a very
good problem to have. And that's how we capacity plan. And we do that every, so we set it every
three months and then we monitor it weekly and monthly to understand how we're doing
versus capacity plan. And then we'll try and do it six to nine months out with greater
or lesser degree of accuracy, because if I need to bring in more TA professionals into
the organization, obviously it doesn't happen overnight. They also need to go through a
recruitment process. They also need to be on board. They also need to be upskilled on
Revolute People, our ways of working. So we try and do it to six to nine months out to
give me time to go, okay, I need four more recruiters within this recruitment team. I
need two more sources in this team. Let's hire them, let's onboard them and let's get
them operational.
And I mean, which sounds like, you know, obviously very much led by data and very, very structured.
I'm sure there's some surprises along the way.
Yeah, for sure.
How do you move and flex to that when that happens?
So let's go back to one we talked about before around sales hiring. So sales hiring doubled
within the space of three months, which is pretty crazy because if you're taking into
account a recruitment process, a notice period, an onboarding period, realistically, you
can't hire enough people within three months to account for a 200% or a 100% increase.
So what we did in that instance is like viciously reprioritize within the department. And then
this is where you need to work with the business of understanding within the business is strategic
goals, how important is sales vis-a-vis hiring more data analysts or how important is sales
vis-a-vis hiring more product designers. And then once you've got an answer and clarity
around that, you can then potentially internally redistribute a certain amount of capacity
from one recruitment team, accepting that you may not deliver what you needed to deliver
or everything you needed to deliver within that cohort and give it to another team. And
then also what are the what's a streamlined interview process you can run to bring recruitment
professionals into that organization. So we within the space of three weeks, we internally
ran a recruitment for recruiters sprint, we hired 19 people in three weeks. So putting
them through an expedited recruitment process consolidating three interviews into kind of
one day back to back interviews and making sure that we tried as much as possible to
not compromise on that talent bar, but then being able to bring in that volume. And then
in the time that spans between that person joining and onboarding and upskilling, you
redistribute internally any capacity that might be not spare, nothing's ever spare but
could be better put to better use and then backfill when those people join in. So it's
just ruthless prioritization and having the buy-in from the business and the acceptance
from the business that certain things might be de-prioritized, but making sure that you
always got the best the business's best interests at heart. And with I guess that bringing the
business again, like I really, I really like that point because I think a lot of conversations
I have, there's usually competing priorities that are coming from different departments.
So how have you managed to do that where you've got all the leaders in the business aligned
and they know that actually, you know, sales has to take priority over here and that just
and that means that it might mean a little bit longer to hire your data analysts. Like
how, how do you bring them on that journey? Transparency of communication. So just getting
everyone aligned. So I mean, it's probably a bad example because you wouldn't take a
recruiter that's working in data to put them as a recruiter into sales, but say for example,
sales and customer support, which is similar sort of high volume profiles, just making
sure that your two key business stakeholders there, so within sales and within support,
are aware that there are competing priorities. There is a capacity constraint. We are fixing
the capacity constraint. So we're not just sat here on our hands and saying we can't
do anything. Like, like I said, we've hired 19 people to just join one team. But in the
interim period, we're going to need to set like de-prioritize a small element of hiring
for that for the customer support organization and divert it to sales. Fine. You then work
very closely with the person that's losing some capacity and say, okay, so you've got
a thousand requisitions that are open within customer support. Give me the 200 lowest priority
ones. What are the 200 that you'd love to have? As we'd all love to have a fully staffed
team, you'd love to have, but that you can do without. So nothing's going to break. Okay,
cool. I've got these 200 people where I can then kind of re-diver that capacity to another
team. As long as in the background, you're showing that things are moving for you as
well. So you're hiring and onboarding recruiters, you're increasing capacity, you're making
recruitment processes more lean where you can. Through that really transparent conversation
and communication style, make sure everyone's bought in. People will invariably default to
okay, cool. It's got the business's best interests are.
We talked about values quite a lot. We've talked about like the importance of the culture
at Reveley and one of the things that we were talking about earlier was that focus on like
hiring grads and interns that really grow within the company. Why is that strategy worked
so well for Reveley?
So what we tend to find is, and what the data shows is people that are six month mark, so
talent density of our new joiners, the primary driver for people being a detractor, i.e. a
one or two on our five point scale is culture fits. So they have the skill sets. We've assessed
that they have the skill set and they can do the job that we need them to do, but their
ways of working aren't aligned with Revolute. So that could be their speed. They're just
not, they can't maintain the speed and they can't maintain the pace with what we expect.
They're not autonomous enough. They need lots of support. They need lots of handholding.
They need lots of guidance to achieve the task we need them to achieve. Or maybe they're
not customer centric enough. So they're coming up with solutions, but they're overly complex.
They're not very elegant. They're not very implementable. So we've identified that culture
is one of the biggest barriers to people who are succeeding at Revolute. So if you actually
invest in emerging talent and people that are on their first or second job out of university,
they're still very malleable in terms of their ways of working. They've not picked up good
habits, but they've also not picked up bad habits. So actually if you hire people that
are 10, 15, 20 years into professional career, they'll have their ways of working that work
for them. That doesn't necessarily mean that their ways of working will work for Revolute.
But if I get a young grad who's hyper smart, shows the skill set that I need them to have
in terms of hard skills, but they haven't had, they haven't been imprinted with ways
of working in DNA from other companies. We can help them develop that. We can help them
adjust to Revolute ways of working. And invariably, you've then got someone who is fully aligned
with our cultural values, fully aligned with our ways of working, and then they've got
the skill set and everything else just catches up. And those are the people that will grow
with the business. And those are the people that will rise through the ranks. And that's
why we're, for us, it's such an important kind of area to invest in is emerging talent
that's at that stage one, two jobs into their career and still super hungry and super driven.
How do you balance that? Not trade off, because I think obviously there's a lot of value that
it brings to the business. But if you're trying to grow at scale, you're bringing in junior
talent who can also develop. But there's also things that you need to ship out and deliver
now. Like how, how do you balance that?
So I think all the teams we run at Revolute, we try to keep them as lean as possible. And
one of the ways in which we do it is we don't expect people only need to be managers. So
you'll bring in more experienced individuals who will need to lead teams, fine. But they'll
still also be expected to deliver value themselves. So I think just being a manager for a manager's
sake and upwards reporting or downwards reporting is something we like, we really try and avoid
and actively discourage at Revolute. So you can offset potentially for an experience
gap that someone that a grad or a recent junior will have within your company, but the fact
that they've got a manager who can provide them the guidance and the mentorship they need
to grow. But then that person can also deliver maybe the higher complexity or the high complexity
projects or the projects that require a bit more experience or a bit more kind of streetwise.
We still expect them to deliver that themselves. So we've not just got people who are just
coordinating teams. And I think that's how we, well, I know that's how we offset for
it.
No, it makes sense. It's really interesting to hear, because I know there's obviously
a real big focus for you. So it's just interesting to hear how you manage that, particularly when
grown at the scale that you are. So thank you for giving us.
And that's why, and that's why for us, it's a lot of times it's almost more challenging
to hire more senior roles into the company, because again, ways of working coach for some
people, they've become accustomed to a certain way of working. They become accustomed to
having a large team that will deliver things for them. And they're kind of more on the
coordination and project management side of things. But we hold that very real expectation
that just because you're a manager, just because you've got a team underneath you, I still
need you to deliver things yourself as well.
Yeah, great. And then finally, what's next for TA at Revolute that you can share?
First and foremost, it's no secret. We're super ambitious at Revolute. We've got the
goal of expanding into 100 different markets in the not too distant future. So TA is going
to be critical to that, to be able to enable that expansion, hiring the best people within
these new markets, hiring people that have got a local regulatory or operational experience
working in these markets, but they'll also meet the Revolute talent bar. So I say that's
number one. Number two is graduate hiring, graduate and internship hiring. So looking
at that emerging talent to really continue to grow that cohort, we started out with
around 30 individuals back in 2023. This year alone, we're going to be around 300 and hoping
for next year will be around 500. And the North Star there is if you graduate from one
of our one of the world's top 50 universities, wherever that may be, the number one employer
you're thinking about trying to join is Revolute. And that's where we really want to be positioning
ourselves over the next couple of years. And then finally doing all of that. So doing the
expansion, doing the emerging talent without compromising on both the quality bar, which
is something we've talked about quite a lot, but then also the experience and the experience
we're offering to two people. So the experience we're offering to candidates that are coming
through our process, we hope they're all engaged throughout the whole process, that it's well
coordinated, relatively quick, and they receive that kind of consistent and constructive feedback
throughout the process. But then also our internal stakeholders in the business. So we
need to be not only delivering well for our candidates, but also delivering well for our
business stakeholders and making sure that their needs of service that we're keeping
up with the velocity of their growth plans and making sure that TA doesn't become a blocker
for the business expanding into either new markets or new products or whatever that may
be.
Great. Thank you. I could sit and talk about the rest of this with you all day, but I'm
afraid that's all we've got time for. But thank you so much for joining me today and sharing
a little bit more about how hiring works at Revolute.
Thanks a lot for having me.
That's all we've got time for today on hiring all cylinders. If you haven't joined her
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Podcast Summary
Key Points:
Jonathan Beanie, head of talent acquisition at Revolut, discusses recruitment challenges and solutions.
Revolut developed its own ATS, Revolut People, to manage performance, onboarding, and payroll.
Talent density at Revolut is measured using a five-point scale assessing performance, skills, and cultural values.
Summary:
In the discussion, Jonathan Beanie highlights the recruitment challenges faced at Revolut and the solutions implemented to enhance the hiring process. He emphasizes the importance of measuring interviewer performance and ensuring a focus on both candidate quality and interviewer quality. Additionally, Revolut developed Revolut People, an ATS that evolved from a performance management tool to manage various HR functions.
The company measures talent density using a five-point scale assessing performance, skills, and cultural values, aiming to continuously optimize recruitment processes and employee performance. Beanie also discusses the importance of aligning recruitment processes with the required skills and job roles to identify and hire the best candidates. Overall, the focus at Revolut is on data-driven decision-making and continuous improvement to ensure the company's talent acquisition and retention strategies align with its goals.
FAQs
Jonathan Beanie started in the military, then worked at Amazon, and is now head of talent acquisition at Revolut.
One of the initial focuses was improving the quality of interviewers in the recruitment process, specifically in product and design hiring.
He used data to show inconsistencies in interviewer performance and collaborated with stakeholders to drive solutions.
Revolut initially built an ATS as a performance management tool, which evolved into managing various HR functions and allowed for a continuous performance evaluation.
Start by quantifying the skills needed, map them to job families, and ensure the recruitment process measures all required skills.
They measure talent density using a specific KPI and have a team dedicated to optimizing performance based on data and quarterly cycles.
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