In Part 1 of this blog we asked the question, What Does it Take to Attract Top Sales Talent? And the answer we provided was simple: pre-IPO status. Read about why leaders in the field are looking move to these kinds of companies here.
While we stand behind that assertion, we also know it doesn’t tell the whole story. Of course not all of our candidates are looking for the same thing. So while the major trend may still be to go pre-IPO, we also have many top candidates for whom public companies are a better match. However (and this is a big caveat), what they are looking for in a public company is quite specific. And it’s a good distinction to understand.
The Company That’s Gone Public, But Has Not Been Acquired.
There’s a big difference between a public company with an institutionalized culture, and the company that has managed to maintain its pre-IPO identity. What this means is that the original structure and charter remain in place, and that the company has not allowed its identity to change in order to fit that of its parent corp. Because of this attitude, they are able to attract and retain an 'A' level sales team that is more deeply dedicated to the company's brand, culture, and continued growth.
A good example of this is Zappos. Even after they were acquired by Amazon, Zappos has been able to buck convention in the interest of preserving their independent spirit. And this has served them quite well as they are widely regarded as one of the top companies who have gotten company culture right.
The Company That’s Already Been Acquired, But Is Siloed Under An Umbrella.
Rules were made to be broken, so we know that not all acquisitions mean the termination of a company’s identity. Depending on the terms of the merger or purchase, it’s entirely possible for an innovative company to hold on to their identity: as long as they are siloed under the umbrella of the larger corporation.
A good and timely example is the pending acquisition of LinkedIn by Microsoft. If early reports prove to be correct, LinkedIn will exist as an independent entity under Microsoft’s umbrella. Rather than being an integrated brand, they will remain singular, retaining their identity, feel and flavor while benefitting from the reach and technological edge that a parent company like Microsoft can provide.
What these types of companies offer sales people is the ability to have one's cake and eat it too. It provides the foundation and stability of a public company as well as all of the perks that come with greater financial reach— all the while being energized up by the innovation and forward culture of a startup.
The one constant we are seeing in these highly desirable candidates who are ignited by disruptive technologies and excited by the opportunity to represent the next great products out in the world, is that independence and innovation are of prime importance.
J. Patrick and Associates serves Information Technology firms that are looking to improve or expand their teams in mission-critical functions, where the success of the firm is highly dependent on the quality of certain hires. Whether you’re a candidate looking to move to one of our top-end customers, or a vendor looking to build your sales team, contact us today: