Many organizations are forced to make the difficult decision to do layoffs.
Losing your job is one of the most stressful things that can happen in your life. And during times of economic turmoil, like we're currently experiencing, it can feel even more devastating.
And while it's never an easy decision, it's important to remember that how you handle your employees on the way out will have a big impact on them and your employment brand - both now and in the future.
So take this opportunity to live your company values and treat your employees with respect and dignity.
If it's possible, KEEP your recruiting team in place and turn them into an outplacement team to help supplement what the outplacement firms are doing for your impacted staff. Recruiters are great connectors, so they can help your employees network with their friends in the industry.
And if you're still hiring, take the time to do a little coaching if you have to decline someone who has taken the time to interview...
^^^See Audio Version above video ^^^
In this edition of CHRO Summaries to Save You Time, we review McKinsey's 11 page white paper about the mindset and practices of excellent CEOs in a 30 minute vlog for your listening pleasure.
CHRO’s: Why should you care?
To start, “Just three in five newly appointed CEOs live up to performance expectations in the first 18 months on the job”
As a CHRO/CPO your success depends on working with the right CEO who can master these mindsets and practices. Whether you are…
…looking for a new opportunity (CHRO or Board seat)
…coaching your existing CEO for success
…in charge of CEO succession planning
This is a summary you will want to listen to
Enjoy! Cindy Lu
ps. If you would like to learn more about joining an HR Mastermind peer group, click here: https://www.chropartners.com/
The original article by McKinsey can be found here.
Hello, I'm Oswaldo Lopez from RiceTec in Houston, Texas. I'm a member of Mastermind group here, coordinated by Cindy. And what I can tell you is that all the interaction that happens in that group has helped me build my professional skills, my HR executive skills to the next level. For me, is a sounding board and also an opportunity to help others become a better HR executives. I strongly recommend the group to anyone who wants to join [inaudible 00:00:33].
Being part of the Mastermind community has been a very beneficial opportunity for me. I relocated back to the DFW Metroplex in 2018, and I was looking to really reintroduce myself to the marketplace, to other HR leaders and executives, and I was recommended to join the group. And it has been beneficial ever since I joined in 2019. I've had an opportunity to talk to and meet and spend time with Cindy Lu. She's very personable, very approachable, and always willing to share and connect other people to other good...
If you're in the c-suite and you're still running around like a chicken with your head cut off, then it's time to change your behavior. Now that you're in the c-suite you should have the most control of your time that you've ever had in your career, yet you might be feeling busier than ever. If you're running around overwhelmed, imagine how your employees feel.
Imagine being able to be in control of your time. Having the time and energy for Innovation and creativity. Not having to reach down and do the job of a direct report. Imagine just providing directionally correct guidance without having to be the expert at everything. Imagine actually having the time to coach and mentor your team.
Here are 3 behavior changes that I had to adjust when I got into the “C” suite
#1. In my experience having the best inner circle team is critical …and that doesn't mean just your direct reports. For me it also included the people who...
If you are a CHRO or direct report to CHRO and you’d like to learn more about how to join the conversation with a very smart group of modern HR leaders, please apply here and schedule time to learn more:
About the vlog:
I have been listening to analyst calls for public companies for years and have been part of leadership teams that are raising capital and I am always amazed at the lack of questions around a company's human capital / talent mgmt practices.
Yet I know that investors recognize how important the human capital assets of an organization are but there's very little attention paid to it. I have seen companies that are human capital intensive literally implode when these basics fundamental talent mgmt. strategies aren't in place.
I can only surmise that there's a lack of understanding as what to ask as well as difficulty with measurements and benchmarks. In fact, if you have been following the public meetings that...
The SEC Human Capital Disclosures discussion is heating up again. The SEC indicated it will propose a rule in 2022 focused on enhancing disclosures about companies’ human capital management.
Many investment firms are pushing hard for this disclosure and even if you aren’t PE backed or a public company, when these mandates become a reality, there will be a trickle down effect to all HR functions.
IMHO, this is all really good news for the visibility and progress towards getting the backing for more data driven tool and resources for HR functions.
With more data, comes a more strategic role for HR and ultimately, better employee experiences.
In this vlog recording we highlight excerpts of the letter to Chair Gensler from the Working Group on Human Capital Accounting Disclosure Petition for Rule Making as well as the SEC open meeting held on 09.21.2022 IAC (Investor Advisory Committee ) Meeting Part 01 where the SEC invited a panel* to share their findings,...
I think you would agree that having more Chief HR Officers and Chief People Officers on boards will bring companies into the modern age of the Talent Revolution.
We know it might feel like an impossible mission but with each new CHRO that is added to a board, it gets easier for everyone else.
Board members are seeing the value a CHRO can bring and then will spread the word to other board members. I know that was the case for me at my last company with 2 CHROs sharing talent strategies with me and my ELT that literally turned our company around.
There are other reasons to be hopeful…
With 2 years of significant transformation, The Great Resignation, and continued C-Suite concern/focus on talent acquisition and retention, HR and the people function have been at the front line. Yet corporate boards still do not have many people with strong backgrounds in HR. 1
In fact, while the number of board members with HR backgrounds has nearly doubled in the last 3 years, from 6 to 11% according to NACD – it is still only 11%.2
In addition, when global CEOs were asked about their top internal obstacles, lack of quality talent ranked #2 – further underscoring the need for CHROs and CPOs to have a seat at the table in corporate governance.3
In today’s vlog Susan Madonia and I speak with two impressive Executive Partners at ECC who will share with us their experiences on 20 boards. Jill Smart and Wayne Sales (board experiences listed below) discuss the need for CHROs/CPOs on Boards and insider tips on how to get on boards.
In today's VLOG post we hear from Nina Boone, Korn Ferry's North American D&I leader from a previously recorded member pop-up group. Watch this today as full VLOG post will only be available to non-members for a limited time!
Here were some of our member comments from the session (paraphrased for brevity):