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Topic: Tech Industry

Yahoo CEO Marissa Mayer: Morale is on the rise

Summary: With job applicants increasing and attrition slumping, things are looking up at Yahoo, the company's chief executive said today.

Andrew Nusca

By for Between the Lines |

marissa-mayer-headshot-google-offset-crop-620x348-620x348

On Yahoo's first quarter 2013 earnings conference call this afternoon, chief executive Marissa Mayer said that morale is already improving at the beleaguered technology company.

She said:

The commitment we've made to make Yahoo the absolute best place to work is already leading to better employee collaboration, innovation and execution. As of today, we've implemented more than 567 employee-focused initiatives across the company, including a new program that encourages all employees to test and improve our latest products, which is yielding excellent, exciting new thinking.

As a result of these initiatives, the data is undeniable. Today, more people are applying to work at Yahoo and more employees are staying. In Q1, the number of resumes we received more than tripled over the course of the quarter. And reflecting on this period last year, the number of candidates applying Yahoo! s has nearly doubled. Our attrition rate for top talent is essentially half of what it was just a year ago.

And with the renewed excitement around Yahoo, we're seeing a steady increase in what we call "boomerangs." They have rejoined. In fact, 14 percent of the hires we made in the first quarter were boomerangs, one in every seven.

Mayer said building positive company culture among its 11,300 employees was the first part of her strategy -- "getting people to believe in Yahoo, making Yahoo a really terrific place to work and contribute and getting the organization fit," she said -- and the second phase will follow with "building beautiful products and executing well against our business strategy."

"As I said before, companies with the best talent win," she said, "and it's clear we're now back in the game."

Topics: Tech Industry, CXO, Project Management

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18 comments
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  • BCReed

    That last comment ["As I said before, companies with the best talent win," she said, "and it's clear we're now back in the game." ] is not actually true. A careful read of "The Innovators Dilemma" would clearly establish this. Even the best companies with the most talented individuals can be beat by a lesser quality product starting from the bottom of the market and pushing the incumbent up market, stealing market share until the incumbent can't sustain any more loss and fails. Properly matching quality to pricing and a clear strategy in your market is more important than having the most innovative employees.

    Marissa could have invested in a way to monitor the virtual work more effectively, firing under performers, and used the company funds to increase acquisitions. The problem with the technology companies is their tendency to want to bring everything in house. Marissa is clearly in this state of mind. They need to acquire companies and provide them resources overtime to foster their development. Bringing things in house, tinkering with it so you can sell it to your best customers causes you to miss out on the market opportunity that could have been if you let the acquisition develop more organically. We'll just have to see where this all goes those, it didn't work for JC Penny but maybe it will for Yahoo.
    bcree08
    Reply 1 Vote

    • Acquisition and organic.

      Diametrically different things. Growth through acquisition VS organic growth are very different things.

      Your post reads as if you are still sore she voted against work at home and can't get over it.
      Bruizer
      Reply Vote

  • She should take her own advice

    Do a search on "I hate yahoo's new home page" and see who many disagree with her comment about "building beautiful products".
    itpro_z
    Reply 4 Votes

    • I love the new page and hated the old one.

      They need new customers given they had few old ones.
      Bruizer
      Reply Vote

  • Still wouldn't work for her company

    Making your telecommuters come back to the office shows you have no trust in your work force, which means you can't be trusted either.
    toddbottom7
    Reply 2 Votes

    • As usual, you have no idea

      It is about getting people together to work as a team, to use team synergy. People need to be together to develop team cohesion, they need to have shared experiences. That doesn't happen when staff telecommute.
      Restricted_access
      Reply 1 Vote

      • You don't need to get together to have team synergy.

        For example, many departments in the Federal Government where team synergy is very important are moving to telecommuting. They're finding that not only does it make the workflow more efficient, but it also takes it a step further and allows for many departments to reduce both infrastructure costs (building leases, technology costs, etc) and payroll costs.

        If the Federal Government can figure this one out, then pretty much any corporation can. Since they tell us corporate entities do it better than the government.
        Champ_Kind
        Reply 1 Vote

    • I don't think you don't know anything about Transformational leadership

      Bringing in Team Synergy is one of the qualities of Transformational Leader and I am seeing at least a part of it in her. Good for Yahoo! Probably once the Team Synergy is re-established, telecommuting would come back I believe.
      Ram U
      Reply 2 Votes

    • Yes

      How dare they expect their employees to come to the office?

      It's almost like they're paying them or something.

      Geez, get over it. If you work somewhere and you have to go there... you go there. It isn't like they're flogging their employees.
      Michael Alan Goff
      Reply Vote

  • "things are looking up at Yahoo, the company's chief executive..."

    or put more succinctly ...first quarter revenue fell short of Wall Street targets and its display advertising business experienced declining sales for the second quarter in a row, sending the company’s shares down about 4%
    This company is dead in the water and should be broken up and sold while it still has some value. I don't know anyone who uses Yahoo other than senior citizens... I'm guessing most of the ad revenue comes from Depends.
    Buzz88
    Reply Vote

  • Good for you!

    Now fix your mail service
    I'm getting sick of all the hacked Yahoo accounts
    zmudd
    Reply 1 Vote

  • What is a boomerang?

    ?
    malcolm@...
    Reply Vote

    • Someone who is rehired that used to work there

      So, some former employees of Yahoo have been rehired at Yahoo.
      grayknight
      Reply Vote

  • Morale

    The beatings will continue until morale improves.
    fldbryan@...
    Reply 1 Vote

  • What else would she say

    She made a decision, it was the correct decision and see there's great results. Why would she say anything different!
    kaur
    Reply Vote

  • Dissent

    Anyone else recall JC Penney and how the new CEO made the same comments about morale? It was because people were afraid to speak up. CEO's often operate with blinders on respecting no opinion but their own. Time will tell what type of CEO she is.
    fldbryan@...
    Reply 2 Votes

  • Yahoo is a dying company

    and it doesn't matter who's in charge, since it's a shadow of its former self.
    Champ_Kind
    Reply 1 Vote

    • They may still die, but things are changing

      Apple was once nearly dead. AOL is the one that should just die, though it could even turn around. There is always room for transformations, as well as startups.
      grayknight
      Reply Vote
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