Marc Andreessen has some advice for big companies that have gone off the boil and who want to keep their best people. Firstly he says the problem is framed wrongly. It’s not “we can’t keep our best people” it’s “we’re not winning”. Start winning again and your problems will (mostly) go away. But, he say, aside from this, there are things you can do:
1. Don’t give up – keep insisting you are still aggressive and innovative, not that you are now a big, staid company so that’s that.
2. Focus. Keep the key players – the magnets who the other good people want to be around
3. Clean house. Get rid of the mediocre people and the people who joined in the good times because they were the good times.
4. Promote your best people
5. Simplify and clarify the organisational structure
6. Take out layers – especially at the top.
So, there you are….