Recent news stories noted that it was 10 times easier to get a job at Goldman Sachs than at Google. While these are two different industries with different needs for talent, the story highlights the intensifying fight for top talent between Wall Street and Silicon Valley — in part due to the changing nature of banking jobs, which no longer meet the profiles of thrill-seeking applicants.
This revelation raises the question of how banks, or any other organization, can consistently attract top talent and how to make sure there’s a good fit between the applicant and the position.
I sat down with Gary Morais, whose company developed a suite of HR software tools called 10Rule, which helps companies hire and train their employees to match the top 10 percent of performers for every position.
Scores of start-ups worth more than $1 billion, known as “unicorns” in the industry, have gained substantial venture-capital funding in the last two years. Dozens have surpassed a $2 billion valuation. And several have passed the $2 billion in just two years.
Slack, the enterprise communication platform that’s taken on traditional email platforms, has become the fastest start-up company to reach a $2 billion valuation, according to data from financial information firm Pitchbook.
The ability to access information generated by connected devices, remotely and in real-time, can enable a fundamental shift in how companies operate and how they generate revenues. By being constantly connected, companies can offer their customers a “product utility as a service,” shifting the value from the actual product to the service this product provides.
Smart vending machines are a great example of the impact of the “Internet of Things” (IoT) on revenue streams and business models.
With improved security, user customization, smart payments and constant monitoring of inventory and consumption patterns, opportunities abound for dispensing new products more profitably using a network of connected devices.