Over four years ago, I was tasked with the enviable project of building from ground zero an in-house legal and compliance team at Affirm. Given my dearth of prior experience, I had no business managing such a project, and each hiring decision was fraught with self-doubt: could I successfully harness this person’s talents and experience without outing myself as a fraud?
Four years and dozens hires later, I’ve grown more confident in my team-building role though I find it no less challenging — and certainly no less critical — today than it was on day one. With typical year-end reflection, I thought now would be good time to reflect on and share three lessons learned.
Get over yourself: Your new team members in many ways will, and should, be more talented and forward-thinking than you. After all, this is precisely why you’re hiring them. One person alone cannot possibly have perfect knowledge and judgment, and it is unreasonable (and potentially stupid) to think oneself master arbiter of all questions. Healthy dialogue with a talented team will always yield better results.
Share information early and often: Think about the onboarding process and how you might best set up your new teammates for success. Transfer your knowledge about the business to each new hire in digestible, actionable bites. Who will be their primary points-of-contact for the lines of business they’ll support? What are those personalities like? What are the organization’s communication channels? The more efficient this knowledge transference, the better your new teammates will be able to bring their unique expertise to bear.
Think ahead 2-3 years: When we started building the legal and compliance team, it was very tempting to hire for more immediate and discrete needs. Luckily, several friends and colleagues advised against this temptation and urged me to think about higher potential candidates that could grow a job function instead of just “keep up” with a job function. This is admittedly challenging particularly when staring at a mountain of immediate work. Still, it is well worth taking the step back and thinking about what the needs might look like 2-3 years out.
Accept change: The team you build today will not be the team you keep. I’ve been struggling with this a lot lately because of some recent “regrettable attrition.” Change is a fact of life, and it can be quite healthy by forcing a hiring manager to constantly consider retention. But even when your team inevitably loses a high performer, it could be because of the opportunity you, the hiring manager, afforded them. That has to be worth something. Besides, people can always decide to return.
Building the legan and compliance team at Affirm remains the most rewarding and challenging experience of my career, and I am thankful for the opportunity to have “learned on the job.” In sum, I suppose the biggest lesson I’ve learned is that it’s okay to not have all the answers. But it is important to ask the right questions even at the risk of revealing ignorance. After all, teamwork makes the dream work.