Introduction
Building a strong team is crucial for driving innovation and success in the rapidly evolving fintech landscape. In this article, we’ll delve into the intricacies of hiring top talent and fostering a culture of trust, agility, and innovation at Nubank, a leading digital banking platform. Jag Duggal, Nubank’s Chief Product Officer, shares his valuable insights on crafting a nuanced hiring process, drawing from his experiences at Facebook, Amazon, and Google.
How Nubank Approaches Hiring
Jag emphasizes the importance of team size and autonomy. Nubank maintains a culture of keeping teams small and providing team members with the autonomy to make decisions about their product or business. This approach is inspired by Amazon’s “two-pizza box teams” concept, which suggests that teams should be small enough to be fed by two pizzas. By keeping teams small, Nubank ensures that they can be agile and maintain the ability to make quick decisions.
What is the Single Biggest Mistake Jag Has Made When Hiring for the Product Team?
Jag admits that over time, he has lost confidence in the hiring process. He has realized that credentials, such as the right school or company, do not guarantee a good fit for a particular team or problem. He has also learned that team dynamics play a crucial role in achieving success, and assembling a group of talented individuals doesn’t guarantee that the whole will be greater than the sum of its parts.
Must-Ask Questions When Hiring for Product
Jag suggests asking questions around two main themes: drive and clarity. Questions about drive can reveal a candidate’s determination to achieve greatness, willingness to take command of a situation, and ability to stomach their own incompetence. This last point, in particular, is essential for building something new and diving into unknown territory.
The Importance of Clarity
Jag learned the importance of clarity from Kevin Systrom, who once said, “We may not be right, but at least we are clear.” Jag applies this principle in the hiring process by looking for candidates who can clearly articulate their ideas, even if those ideas might not be perfect. This approach allows Jag to evaluate if the candidate can make their work understandable to others, a crucial skill in product development.
Conclusion
Building a strong team at Nubank requires a nuanced approach to hiring that goes beyond credentials and focuses on drive, clarity, and team dynamics. By keeping teams small and emphasizing autonomy, escalation, and decision-making, Nubank fosters a culture of agility and innovation. Drawing on lessons from leading companies like Facebook, Amazon, and Google, Jag Duggal and Nubank continue to refine their hiring process, prioritizing trust and autonomy to build a team capable of tackling the challenges of the fintech industry.
Frequently Asked Questions
Question 1: What is Nubank’s approach to team size and autonomy?
Nubank maintains a culture of keeping teams small and providing team members with the autonomy to make decisions about their product or business. This approach is inspired by Amazon’s “two-pizza box teams” concept, which suggests that teams should be small enough to be fed by two pizzas.
Question 2: What is the single biggest mistake Jag has made when hiring for the product team?
Jag admits that over time, he has lost confidence in the hiring process. He has realized that credentials, such as the right school or company, do not guarantee a good fit for a particular team or problem.
Question 3: What are the must-ask questions when hiring for product?
Jag suggests asking questions around two main themes: drive and clarity. Questions about drive can reveal a candidate’s determination to achieve greatness, willingness to take command of a situation, and ability to stomach their own incompetence.
Question 4: What is the importance of clarity in the hiring process?
Jag applies the principle of clarity in the hiring process by looking for candidates who can clearly articulate their ideas, even if those ideas might not be perfect. This approach allows Jag to evaluate if the candidate can make their work understandable to others, a crucial skill in product development.
Question 5: What did Jag believe about hiring that he no longer believes?
Jag initially believed that the hiring process was a scientific endeavor, relying heavily on credentials and prior experiences as key indicators of success. However, he now views hiring as more of an art, with a greater emphasis on the candidate’s fit within a team and their ability to contribute to a specific problem or situation.
