11 HeathTech Companies to Watch in 2020

Filed under: Industry Info, News, Redfish Speaks, Tech Trends

11 HeathTech Companies to Watch in 2020

Redfish Technology

 

Technology is bringing about massive and welcome changes to the healthcare industry. Patients now have access to some of the best diagnostic tools, new and cutting-edge treatments, and improved procedures resulting in less pain, quicker healing and improved quality of life. Advances in 3-D printing, AI/ML, “Virtual” Healthcare, robotics, targeted treatments, and the availability of intuitive mobile apps have led to; improved care, streamlined processes, lower costs, and increased. Here are eleven of Redfish Technology’s favorite companies in the HealthTech space

 

Human API (www.humanapi.co) Human API started with two simple questions: “why can’t consumers access their health data?” and “why do enterprises struggle to connect this data?”. Human API empowers health consumers to share their health data with the companies that can provide them with better care and services. Through their large, distributed network of integrations, we’ve created a simple, on-demand way for everyone to exchange and use the health data they need.

 

HealthTap (www.healthtap.com) HealthTap is delivering universal access to high-quality, virtual primary healthcare. HealthTap improves the healthcare experience for both patients and doctors while saving time and reducing costs for all. HealthTap’s doctor-trained, augmented intelligence system personalizes users’ care and enables an instant connection to doctors and their knowledge from 163 specialties.

 

Thrasys (www.thrasys) Thrasys’ platform, SyntraNet, provides a suite of database-driven technology to the healthcare community; enabling functionality such as Electronic Medical Records (EMR), integrating healthcare information from numerous discrete data sources, secure HIPAA-compliant messaging, and analytics of populations and reporting on patient risk and costs of care.

 

Sypase (www.syapse.com) Syapse partners with health systems and life sciences companies to deliver clinical, programmatic, and research insights from the world’s largest network of health systems focused on precision medicine.

 

TrueVault (www.truevault.com) TrueVault is the first data security company entirely focused on protecting Personally Identifiable Information (PII). TrueVault decouples consumer identity from consumer behavior to eliminate data security risks and compliance liabilities, giving companies only the data they need. As organizations collect and store more data to drive their businesses forward, they are simultaneously increasing their risk and liability. TrueVault removes 100 percent of that liability and ensures compliance with regulations such as HIPAA, GDPR, and the California Privacy Act.

 

Limelight Health (www.limelighthealth.com) Limelight Health is a leading provider of cloud-based enterprise software solutions delivering the most efficient and compelling quoting & underwriting platform for the employee benefits industry. They provide process automation and seamless integration between every participant in the employee benefits industry including carriers, underwriters, sales executives, agents, advisors, and their customers.

 

MedBridge (www.medbridgeeducation.com) MedBridge builds the tools to improve patient outcomes, increase profitability, and mitigate regulatory risk for more than 1,100 organizations nationwide. Named by Inc. Magazine as one of the nation’s fastest growing companies, MedBridge drives better patient care while helping organizations improve financial performance. The fully integrated MedBridge platform provides the industry’s most powerful patient engagement, continuing education, compliance training, and enterprise-level reporting tools.

 

Luma Health (www.lumahealth.io) Needing to see the doctor is hard. Actually being able to see your doctor shouldn’t be. Luma Health solves the biggest challenge in healthcare — getting a patient in front of the right healthcare provider quickly. Delivering over a 65%+ patient response rate, their highly engaging mobile communication platform delivers real-time insight into all aspects of patient engagement, helping healthcare providers win back $27B/yr in lost revenue by directly connecting patients to care.

 

Alto Pharmacy (www.alto.com) One big problem with the healthcare industry: half of all prescriptions are never picked up, never make a milligram of impact. Alto was started to put healthcare in a better position to succeed, by building ever faster, friendlier ways to get medicine into the hands of people who need it.

 

Ciitizen (www.ciitizen.com) When You Control Your Health Data, You Control Your Options. Ciitizen helps you collect, summarize, and share your medical records digitally, free of charge. You can use it to get a second opinion, coordinate with caregivers, or donate to research.

 

CloudMedx Health (www.cloudmedxhealth.com) CloudMedx is building a world class clinical AI platform that uses healthcare specific NLP and machine learning to generate healthcare insights to improve patient journeys. CloudMedx aims to bring unprecedented scale and simplicity to healthcare by combining evidence based algorithms and big data architecture. By using scale and machine learning algorithms, clinical partners at all levels can derive meaningful and real-time insights from their data and intervene at critical junctures of patient care.

19 Companies That Are Helping to Change the World of Financial Services

Filed under: High Tech / IT / Software, Industry Info, Recruiting, Staffing & Employment News, Redfish Speaks, Tech Trends

19 Companies That Are Helping to Change the World of Financial Services

By Jon Piggins, Director of Business Development

Redfish Technology

 

The news these days is full of cautionary tales regarding data & security breaches, ransomware, and identity theft…and while these are valid concerns for the FinTech industry, there is plenty going on in the space to feel hopeful about. One thing is for sure, there is a sea change underway in the Financial Services industry. Here are some of our favorite companies who are looking to help shape those changes for the positive.

 

Token

Token’s universal open banking platform, TokenOS, allows banks and third parties to interact in a digital global financial services ecosystem. TokenOS provides one API to access all banks, with the tools to deliver best-in-class data access and payments use cases, and better open banking propositions.

 

Twine

The Twine app is a savings and investing app designed to help couples work towards joint financial goals. It allows couples to set up automated savings in a high(ish)-yield FDIC-insured account, or to invest their money in different portfolios.

 

Hippo Insurance

Hippo Insurance launched in 2015 with the deep belief that homeowners deserve better home insurance. They’ve automated the process and modernized coverage, offering policies that cover the homes and possessions that consumers own today, often with greater savings. A smarter home is a safer home: Hippo takes a proactive approach to home insurance, providing customers with smart home devices and working with them to identify and solve small issues in their homes before they become big claims.

 

Forge Global (fka “Equidate”)

Forge Global Inc. is a premier trading and settlement partner for a wide range of investors in the private markets. Established in 2014 as Equidate Inc, the company empowers investors and shareholders by enabling liquidity in the private markets. Forge, Inc. was founded by Y Combinator alumni and backed by top investors including Tim Draper, FT Partners and Munich Re. Forge Global’s platform allows shareholders and investors in privately held innovation firms to liquidate a portion of their shares and provides private and institutional investors access to top companies like Spotify, Lyft and 23 and Me before their IPO.

Trim

Trim is a personal assistant for your financial life. First, Trim analyzes your transaction history to show you all of your subscriptions. Then they cancel anything you don’t want to keep paying for. Now they’re working on the hard stuff… How do I get out of debt? Do I have enough money in my emergency savings fund? Will I have enough money to retire someday? Am I financially healthy?

 

Wyre

Wyre is a leading infrastructure provider in crypto. After trading over $3.5 billion in cryptocurrency assets and completing over $750 million in bank-to-bank FX payments since 2016, they have an established network of relationships with leading banks, exchanges, and decentralized partners. Using Wyre’s API, customers are able to instantly convert fiat to crypto globally in over 50 countries, in 8 different fiat currencies, and 3 cryptocurrencies. Their focus is on compliance, licensing, regulatory, liquidity and payment processing aspects so their partners can do what they do best, creating amazing tools on the blockchain.

 

VEEM

Veem is a global payments company trusted by over 125,000 small businesses around the world. They let businesses pay their vendors, suppliers and contractors anytime. Using a proprietary multi-rail technology, businesses can send or receive money in a click, track their payments end-to-end, and even connect to their favorite accounting software – Quickbooks, Xero, or NetSuite.

 

Tipalti

Tipalti streamlines and automates the way companies make payments to their suppliers, partners, publishers, and crowd. Tipalti brings a comprehensive solution that addresses all phases of mass pay-out from payee onboarding and payment method selection to funds disbursement, while keeping the payer in full tax and regulatory compliance.

 

CollegeBacker

CollegeBacker believes every child in America deserves a college fund, and they’ve already helped the next generation avoid more than $7.5 million in student loans. Whether it’s your child or a friend or relatives, you can kick off their tax-free college fund (529 plan) today at CollegeBacker.com.

 

Digital Reasoning

Digital Reasoning is a leader in cognitive computing. They build software that understands human communication – in many languages, across many domains, and at enormous scale, and their technology learns from experience and is able to transform data into the knowledge clients need to accurately answer questions (like what behavior indicates the potential for illegal stock trades).

 

Advisor Engine

Operating at the forefront of wealth management, AdvisorEngineer is reimagining how technology can serve financial advisors. Their offering is an all-in-one digital wealth management platform helping financial advisors connect more deeply, scale more efficiently and deliver better outcomes.

 

Tala

Tala is a leading mobile technology and data science company committed to financial inclusion globally. Millions of people have borrowed through Tala’s smartphone app, which provides instant, personalized credit to underserved customers in East Africa, Southeast Asia, and Latin America.

 

Earnin

Earnin works on a pay-as-you-can model and is available for Android and iOS devices. You make a withdrawal of up to $100 per day based on the hours you actually worked. Then you pay a “tip” on top of the withdrawal–usually just a few bucks or up to about $15. That’s a steal compared to the fees and interest you’ll be charged on a traditional payday loan.

 

Axoni

Uses blockchain-based smart contracts to overhaul the back office of the world’s biggest derivative markets. Its distributed ledger will allow counterparties to see payments, calculations and other vital trade information in real time, improving efficiency and lowering risk. Already partnering with world’s biggest banks and financial intermediaries.

 

Bolt

Their mobile-ready checkout software for ecommerce sites incorporates sales analysis and fraud prevention, topped by a guarantee to cover any fraud losses. Bolt claims the integrated functions can cut checkout times from more than one minute to 30 seconds…and time is money!

 

Tradeshift

Processes payments for supply-chain transactions, handling everything from “know your customer” (KYC) regulatory checks to running cash flow analytics and recommending how quickly a customer should pay a supplier.

 

Own Up

Yet another example of how tech can help turn a complicated process into a simple one. Own Up is a platform that works as the middleman between consumers and home lenders. Once you build your profile, Own Up can connect you to a home advisor. They will help you compare pre-qualified rates, lenders, and everything else you need before making such a big decision.

 

Finix

Finix Payments offers a B2B payments platform for banks, acquirers, and enterprises to enable push payments over the debit card. It also decreases the cost, headache SaaS businesses, ISVs, cost, and marketplaces experience when bringing payments in-house. The platform also gives businesses a better way to manage, monetize, and own their entire payments experience without the headaches or expenses associated with building an in-house system from scratch.

 

CoverWallet

CoverWallet was started by tech entrepreneurs who worked in software startups in the past, building easy to use online products for consumers and enterprises. Frustrated with how opaque, high pressure and time consuming the management of commercial insurance was, they decided to build a better experience for other business owners and a concierge service for them. Their solution brings beautiful Internet products together with the state-of-the-art online technologies to create efficiencies, save you money, and simplify your life when it comes to managing business insurance.

 

 

6 Tips on How to Discuss & Negotiate Salary / Compensation

Filed under: Redfish Speaks, Salary

6 Tips on How to Discuss & Negotiate Salary / Compensation

By: Jon Piggins, Director of Business Development

Redfish Technology

 

The Pay Equity & Salary History regulations that are being adopted by more cities & states are making the discussion around compensation a bit tricky. Back in the “old days” a recruiter or company would simply ask “How much are you making now?” and even request W2’s to support the figures provided. The questions you’ll most likely get today are “What are your salary/compensation expectations” or “what sort of compensation range would you need to consider making a move?”.

 

While laws surrounding the topic of compensation are well intentioned as an effort to chip away at pay inequity, they have created a bit of ambiguity around the subject. As recruiters, we talk to candidates & companies about compensation all the time and here are some recommendations to help you navigate the matter, with recruiters, hiring companies or even your current employer.

 

Do your homework & Educate yourself on the market: There are plenty of compensation surveys & calculators out there…here are a few common ones we often share with our clients & candidates.

https://www.dice.com/salary-calculator
https://www.payscale.com/salary-calculator
https://www.glassdoor.com/Salaries/know-your-worth.htm
https://hired.com/salary-calculator

 

Ask your recruiter: There are times when our clients have asked us to leave compensation open, but we try to nail it down to at least a range. You can also ask your recruiter…we spend every day talking to candidates, companies & each other about the current market, so any good recruiter should be able to give you a realistic estimate of someone with your experience, education, etc. is making these days…and don’t let initial figures rule anything out. We recently had a company peg their comp range at $170-$180k/yr & wound up offering someone well over $200k, but they were able to justify it because of how much our candidate was brining to the table (essentially a hire & a half).

 

Flip it: A great way to deal with questions surrounding your compensation expectations is to turn it back on your interviewer. Something like, “If it turns out that I’m the person you hire for this position, I’m sure we’d be able to reach a mutually agreeable salary, as I’m willing to be flexible. Can you give me an idea as to what the budgeted salary range is?” You’re not trying to be evasive, you’re establishing even footing & looking to have an open discussion around compensations…plus it frames things well, that you’re optimistic you’ll be able to figure things out if it turns out that there’s a fit and mutual interest.

 

OK, you’ve made it past the initial “How much do you (want to) make?” and “What does the position pay?” stage and we’re moving in the direction of an offer…here are some tips to help you across the finish line.

 

Provide context, your “why”: Its one thing to say “I need $180k to even look at something new.” Vs. “I’m really interested in what ABC Company is doing, but I’m currently at $180k with 2 kids in college & a mortgage in Mountain View, plus my Mom just moved in & we’re helping to take care of her until we find a more permanent option.”. Explaining your “why” gives context and humanizes things, so don’t be afraid to share some insight into what’s driving your compensations expectations and needs.

Be Flexible: Beyond cash, what else is important to you? e.g. Benefits, RSU’s/stock/options, opportunity, track record of the founders (have they had successful exits?), commute? Don’t forget to take a holistic view of the compensation package. We have many clients who work hard to not just remain competitive in the marketplace from a cash standpoint, but go above & beyond by offering benefits like; school or home loan pay downs, 529 education fund donations for employee’s children, and mandatory paid vacations.

 

Leverage (how to use it properly), “If-Then”: Another mistake we see is when people simply keep asking for more money to see if they can get it. Assuming you’re interested in potentially working at a company, figure out what you’d need to work there, and quantify your needs. Help your potential employer by giving them something when you’re asking them for more money, benefits, stock…it means a lot more to be able to extend and “If – Then” commitment vs. “can you increase the offer?”. It’s reciprocal, you’re giving your commitment in return for their increased offer, plus it gives your hiring manager the internal leverage to get approval for the increase…they’re not just asking for money, they’re guaranteeing a hire if the increase is approved. It goes something like this; “Based on our conversations, I believe I’ll be a good fit at “ABC Company” because of (X, Y, and Z). I know this position was slated for $150k/yr, that’s currently what I’m making. My expectation when I started looking for a new position was at least a 10% bump and if we can get to that I’m ready to give my notice, decline any counter offer & start within 2-3 weeks.”

 

Be Realistic: the Curse of the “Golden Handcuffs”: We get people coming out of the “FANGS” or other large, well established tech companies with deep pockets who say they’re bored & want in on the exciting startup world, but they want to have their cake & eat it too…they still want $350k/yr from a 20 person Series A company where the founders haven’t pulled a paycheck for 6 months. There’s a happy medium that needs to be reached & you have to be realistic about the risk-reward…and big companies aren’t always less risky. A quick way to fix a bad quarter or two @ a big company is to lay off a few thousand employees, especially the expensive ones.

 

The subject of compensation can be a touchy one and it isn’t something that most people deal with on a regular basis. However, there are plenty of ways the topic can be managed from initial conversations through to an offer. If you have any questions, or could use some help navigating the subject of “money”, please feel free to CONTACT US.

Redfish Technology Annual Retreat to the Sawtooth Mountains

Filed under: Redfish Speaks, Redfish Team, Work-Life Balance

Redfish Technology Annual Retreat to the Sawtooth Mountains

 

After last year’s challenging weekend of survivalist training, our trusted leader Rob Reeves decided to assemble a more low key company retreat for Team Redfish with a day long float down the Salmon River in Stanley, Idaho. A great time was had by all!

 

 

 

 

 

Tips for Building Rapport & Making Connections in an Interview

Filed under: Best Practices, Interview, Redfish Speaks

CONNECTING IN YOUR INTERVIEW
IDEAS FOR MEETING PEOPLE AND RELATIONSHIP BUILDING

By: Walker Cross, Senior Recruiter at Redfish Technology

 

Making connections in an interview

 

Business is made up of people working together on an activity for the benefit of all involved: boss, employee, customer, the society at large hopefully! And the interview is an interactive opportunity for both employer and prospective employee to evaluate fit and decide if they want to collaborate on the company’s goals.

 

While hard skills may need to be verified, such as a software developer being able to code efficiently, and while references should always be checked, the interview has other objectives beyond these.

 

People spend a lot of time together at work. All parties hope for a great cultural fit and personal flow with their colleagues. So how to you determine this in a single meeting? Here are some recommendations that might help.

 

PASSION:
What about the job excites you and spoke to you? Again this can be from either side, in the form or a question or simply offered up in the conversation. Ask/tell about the upcoming campaigns or projects that this role entails.

 

PROACTIVITY:
Ask/tell about the expectations for performance on the job, for example in the first 3 months on the job, and on a yearly basis. Setting clear expectations makes to easier to assess and fulfill goals, and introduces the opportunity to discuss accountability.

 

GRATITUDE:
Showing your appreciation says a lot about what kind of person you are. This is highly personal and contextual, but one might share their appreciation for their team or a project they’ve worked on; you could express thanks for the opportunity to meet, or gratitude for a mentor who helped further one’s career. There’s no shortage of things for us to be grateful for in this life.

 

HUMOR:
Laughter is the best medicine; a smile and a chuckle can go a long way to breaking tension, revealing personality, and fostering ease. Humor is a great way to warm people up and kick start an easy dialogue. Putting people at ease is a great way to show your likeability, and facilitate connection.

 

PERSONALITY:

All of the above should be clue you into the personality of the person you are interviewing with.

If they are a Power (Choleric) person, it’s better to focus on what you can do for the organization or what you expect of the candidate. The Power person is future-oriented, and wants to hit the high points and move on.

The Party (Sanguine) person is focused on the present and is very enthusiastic but not always constant. Passion and attention resonate with Party people.

The Peace (Phlegmatic) person is not an extrovert but is concerned with everyone getting along, they are not big risk takers. Like Power and Party people, Peace people like examples from the past to reassure them about the present; references, especially from people in their network go a long way.

The Perfectionist (Melancholy) is data-driven and organized, may be fairly reserved, and you may not notice the intensity at first glance. These people want to hear your quantifiable achievements but they also want to hear the ins and outs of the problem-solving you employed along the way.

 

Once you get an idea of the personality type you are interacting with, try to adapt to their energy and relational style in your dialogue and expression. Meeting people in their own style helps you to communicate with them and facilitate a meaningful connection.

A Beginner’s Guide to Startup Options & Equity

Filed under: Industry Info, Jobs/Employment, Offers / CounterOffers, Redfish Speaks

A Beginner’s Guide to Startup Options & Equity

By: Jon Piggins, VP Business Development 

Redfish Technology

 

A Beginner’s Guide to Startup Options & Equity

In the startup world, most offers of employment include stock “options”, essentially granting you the right to buy shares of the company’s stock in the future at a predetermined price. For example (in a best case, simplified scenario), you accept an offer to work at “XYZ Company”, stay there more than 4 years (to fully “vest” 100% of your options). The “strike price” for your options is $2/share. In year 5, XYZ Company decides to issue an “Initial Public Offering” to begin selling shares of their company to investment banks & the general public. They price their stock at $20/share and it begins trading on the open market (e. “NASDAQ”, where the price will fluctuate based on demand). You now have the right to “exercise” your options, buying them at the predetermined $2/share and then sell them at the market price of $20/share, giving you a gross profit of $18/share.

 

So now that we have a basic understanding of what an option is, we’ll look at a few more important considerations when evaluating your offer (or current position).

 

Valuation

While a company is private, it’s valuation is managed by the board of directors (via a “409A Appraisal”) usually one a year (or if there’s a significant change, like a new VC round of funding). The valuation is based on a number of factors, but is intended to be an independent/objective Fair Market Value, or “FMV” (think of a house appraisal). Each round of valuation, in principal, represents an increase in the value of each share in the company. So, each increase in value also means that the cost per share in that company goes up. Meaning, if you started employment at XYZ Company when they were valued at $5 Million and your “strike price” was $2/share and now the company is valued at $10 Million and new hire would now have to pay $4/share for the same option. Hence, the benefit of “early equity”…getting in while the cost to exercise (“purchase”) your options is low (as it allows for more potential profit margin).

 

Calculations
In simple terms, you can come up with a rough value for your shares by using the following equations (and a company should be able to provide you with this information once you get to the offer stage).

 

% of “ownership”, how much your potential shares represent of all the company’s outstanding shares:
# of shares/options, divided by “total number of shares outstanding” = % of equity you’d have in the company. (eg. your # of shares/options of 50,000, divided by the total number of outstanding shares for the company of 10,000,000 = 0.005 or .5% equity in the company).

 

Value (on paper) of your shares/options:
# of shares/options x current FMV strike price – # of shares/options x your strike price = your current spread or profit margin. (eg. 10,000 shares at the last Board of Director’s FMV of $10/share – your 10,000 shares/options x your strike price of $5/share = $50,000 in a “paper” gross profit).

 

 

Vesting Schedule

This is simply the rate at which you gain the ability to purchase your options/shares. Industry standard is 4 years, the 1st year vesting (25%) after one year of employment and the remaining 75% vesting each month at a rate of 1/48 over the remaining 3yrs. After 4 years, you now own the right to exercise (“buy”) all of your options.

 

 

Liquidity Preference

Venture Capitalists & other investors get paid 1st. So, if a company has taken $40 million in funding and it decides to go public, no one else but the investors get paid until the proceeds exceed the $40M+ mark. Important to note (from an equity standpoint) when looking at a company that’s taken on a lot of funding & doesn’t have good traction, as there’s a good chance you’ll probably never realize any benefit from your options.

 

 

Summary

This is meant to be a very high level “Options 101” review of the topic. There are a multitude of factors that can come into play; dilution of shares/equity, different classes of stock, company acquisition, Restricted Stock Units (“RSU’s) vs. Options…but our hope is that a basic understanding of what options are & how you can calculate a rough valuation of a company and what your options represent in “ownership” of that company, you’ll be able to better evaluate your next (or current) opportunity. We’d be happy to answer any questions or do a deeper dive on these (or other) topics, so contact us if we can be of service!

5 Tips for a Successful Lunch Interview

Filed under: Candidate / Job Seeker, Job Search, News, Redfish Speaks

5 Tips for a Successful Lunch Interview

By: Jon Piggins, Director of Business Development @ Redfish Technology

 

In today’s busy world where time is at a premium, we’re seeing more of our clients scheduling lunch interviews with our candidates (everyone has to eat, right?). In addition to convenience, holding an interview out in public offers a unique opportunity to gain insight you just don’t get in a conference room or office setting. Here are 5 tips to help you prepare for the next time you’re invited to meet with a prospective employer over lunch.

 

1. Be courteous to everyone (hearing “please” & “thank you” never gets old)

This is where the value of a public setting for your interview comes into play. Your potential employer will be evaluating the answers you provide to their questions just as they would in the office, but they’ll also be looking for cues to indicate how you might be a personality & cultural fit for their team. They’ll be watching for manners, not the “finishing school” type, but to see if you are self-aware & polite in a general sense. A lunch interview provides a less controlled environment, so they’ll be looking to see how you deal with mistakes (eg. you’re delivered something different from what you ordered) and if you show a level of common kindness & respect. Formal interviews & technical exercises do a good job of vetting skill and ability, but human interaction provides insight into a person’s “EQ” (Emotional Intelligence).

 

2. Make smart small talk

Lunch interviews are more casual than those held in a traditional office setting, so they will be more conversational by nature. Never lose sight of the fact that you are indeed in a business setting, not a social event. Keep your topics neutral & positive, don’t bring up things like politics or religion and focus on upbeat subject matter, like new construction you noticed in the area or volunteer work you’re involved with.

 

3. Come prepared

Yes, you’re interviewing in a more relaxed setting, but it’s still an important opportunity for you to reinforce your capabilities & value. You should still be prepared to answer the standard interview questions you’d get in a regular interview. Bring copies of your resume & any relevant work samples, as well as a professional notepad binder & a pen to take notes. As with any interview, you’ll want to send the hiring manager a meaningful thank you email, as well as a handwritten letter.

 

4. Plan ahead, do your research, arrive early, order strategically

Interviewing can be stressful enough…do yourself a favor and research the restaurant ahead of time so that you’re not compounding your anxiety by trying to figure things out at the last minute. Know the restaurant’s exact location & plan your transportation/logistics accordingly (arrive 10 minutes ahead of time). Eat a little bit an hour or so before your interview. Look up the restaurant online to see how the restaurant is organized (noisy, busy, dark) and how people are dressed. Check out the menu & pick a few “safe” options to order (avoid messy, spicy, greasy food). Don’t complain about your food, or send it back (you might be eating at the hiring manager’s favorite restaurant). Do refuse (and don’t request) any alcohol with your meal.

 

5. Know who you’ll be meeting with

Get the names & titles of all the people you’ll be meeting with. Google them & take a look at their Linkedin profile & their social media presence (most likely, they’ll be doing the same for you). If you’ve never met before, seeing their profile picture will make it easier to recognize them at the restaurant, plus Linkedin will reveal connections you have in common. Doing some research will also help you to come up with prepared topics of conversation, including shared interests (see #2).

 

At Redfish, our mission is to build long-term productive partnerships with both candidates and companies. We pride ourselves on offering progressive service to our client partners without leaving honesty, integrity, excellence or performance behind. We aim to spark innovation, breed efficiency, and fuel market dominance by providing talent who can help take your company and product to the next level.

Our philosophy is simple: build long-term relationships by providing top-quality service and confidentiality, leveraging our expertise and resources, and having fun!

5 Great Benefits & Perks to Attract and Retain Employees

Filed under: Best Practices, Hiring Strategies, Offers / CounterOffers, Redfish Speaks, Talent Acquisition

5 Great Benefits & Perks to Attract and Retain Employees

By: Jon Piggins

Director of Business Development, Redfish Technology

 

In today’s tight labor market, competition for top talent continues to heat up. We’ve seen some of our clients increase their hiring rates by offering benefits & perks beyond what’s now becoming standard, things like; unlimited vacation, “make your own hours”, 100% paid health/dental/vision coverage. Here are some of the best perks we’ve seen recently.

 

Vacation reimbursement: “Unlimited” vacation is great…if you use it. Turns out that many employees are so busy that they never wind up taking advantage of the benefit and the company winds up with stressed out, tired workers. One company we work with decided to solve the problem by creating “vacation reimbursement”, $3,000/yr per employee, can’t take it as cash & have to use it each year or you lose it.

 

Student loan paydowns: With 44.7 million borrowers owing more than $1.5 Trillion in student loans, the U.S. is drowning in school loans. Not just a financial burden, student loan debt can be stressful & limiting. We’ve had a few clients begin to offer monthly contributions to their employee’s loan payments, either by subsidizing the amount they had to pay or by matching payments (up to a limit) therefore helping to pay off the loan(s) sooner (sometime 7-10 years sooner).

 

529 accounts for employee’s children: Think of a 529 account like a “Roth IRA” for college. Contributions are invested & when it’s time to pay for college (tuition, room & board, books…) the money can be withdrawn without penalty or taxation. It’s a nice additional way to help employees beyond the traditional health savings & retirement plans most companies offer.

 

New baby fund: Have a baby, get $4,000. That’s what Bay Area based client of ours decided to start doing (diapers are expensive!). Seriously though, as wonderful as having a child can be, it’s expensive & stressful. Getting a nice chunk of change & a good break for maternity/paternity leave is a great perk for your workers.

 

Housecleaning & Laundry Services: Put in a 60 hour work week & then have to deal with cleaning chores and laundry…no thanks. We have a longtime client in LA who provides weekly laundry and twice monthly house cleaning services for their approx. 100 employees. Simply bring in your clothes in a big nylon bag on Monday, it gets picked up at the office & comes back on Wednesday cleaned and folded.

 

The great thing about these benefits is that they’re done in good spirit…yes they’re self-serving for a company in helping to attract & retain talent and increase productivity, but they’re also considerate towards employees with the goal of reducing their stress & burden and helping to make their lives a little easier.

5 Reasons Why Backdoor References Aren’t Always Helpful

Filed under: Best Practices, Redfish Speaks

5 Reasons Why Backdoor References Aren’t Always Helpful

By Leah O’Flynn, Chief Revenue Officer

Redfish Technology

 

At first glance backdoor references can seem strategic but there are some unintended consequences to consider in today’s marketplace. Our client’s increasingly ask for our opinion on doing them and we usually respond with what we’ve seen in the past. As a rule of thumb, be respectful of the candidate and start the relationship off with trusting that he or she can provide a solid number of folks to speak about his or her ability to do the job. Oftentimes our client’s assume it’s a good way to vet a skillset but there are more effective ways to evaluate a person other than a backdoor reference….

 

1.) In general, candidates are already pretty protective of the references that he or she offers up to a hiring manager. You run the risk of your potential hire getting put off if he or she finds out that their next manager went around their back. It makes for a rocky start to a professional relationship.

 

2.) We’ve had a situation where a manager within the candidate’s current company didn’t want to lose the employee. He gave a negative review and ended up offering the candidate a counter offer as a tactic to get ahead of the new offer & retain the employee.

 

3.) A backdoor reference can jeopardize the candidate’s current employment. Their employer was unaware that he or she was looking and is now privy to that information. A reference that would have been good is now skewed due to the circumstances.

 

4.) You reach out to someone who may have previously managed the candidate but you have no context around their working relationship or environment. It’s not a fair conversation to have with this said person. Also, that person isn’t familiar with the person now. References should represent the past and the present to help paint a more complete portrait.

 

5.) It could be a situation where the candidate left the company on good terms but the company never got over it because it was in the middle of a big project. The review isn’t reflection of the candidate’s working ability but rather disappointment of losing a good employee.

 

For more advice & insight into the world of recruiting, contact us HERE

Top Quick and Easy Tips on interviewing well in today’s competitive market

Filed under: Interview, Redfish Speaks

Top Quick and Easy Tips on interviewing well in today’s competitive market

By Jon Piggins, Director of Business Development

 

Smile: a smile is magic, it improves your mood & the mood of those around you. If you’re not a naturally “smiley” person, consciously practice doing it more & in front of a mirror so that it becomes more natural. In general be mindful of your facial expression while you are listening – smiling is a good default but some people tend to look away and it becomes obvious when they aren’t actively listening. Even if you’re nervous, or feel like the interview isn’t going well, think of something that makes you happy & brings a smile to your face…it makes a big (and positive) impression!

Err on the side of being more formal than not: It’s perfectly acceptable to ask your recruiter or HR what type of attire you should wear for your interview. Even if the office is a board shorts & tank tops kind of place, business casual (on the conservative side) will never get you in trouble.

Do your research: Know enough about the job description and company that you could explain both clearly to someone at a dinner party. Look up the Linkedin profiles of the people you’ll be interviewing with and note any shared connections or commonalities, perhaps you & the hiring manager went to the same college or grew up in the same state. Doing your homework will make you feel more comfortable and will showcase your level of interest & preparation.

Have questions prepared: See above…when researching a company & it’s people, prepare 3-5 relevant questions. It will reinforce your level of interest and it also helps you to maintain some control in the process…and it’s an easy way to buy yourself some time if you get flustered or feel like you’re doing all the talking. Ask a thoughtful, open ended question, and relax (and listen!). Wrap up the interview by asking how you compare to other candidates in the mix? Also, ask if they have any concerns about them as a candidate? Also, ask for the job if you want it!

Get the names & email addresses for EVERYONE you meet, connect with them on Linkedin & send them each a “Thank You” email. It’s also fine to send one thank you to the group of people you met with, just make sure to include everyone…even the person who greeted you at the front desk. You never know who might be involved in the hiring process & it shows proper respect to everyone who might be your future co-workers.