THE EXTRA D: HR WKLY BRIEFS

HR Execs Are Receiving Higher Pay vs. Past Decades Pay for top HR executives is on the rise, according to new research published by Nicholas Bloom, an economics professor at Stanford University, & Mert Akan, a research fellow with the school’s Institute for Economic Policy Research. The share of S&P 1500 firms that counted an HR executive among their top five highest-paid C-suite executives rose from just 0.5% in 1992 to 13% in 2022, according to Bloom & Akan’s research, which analyzed companies’ DEF 14A filings to the SEC using Execucomp data. Chief HR titles have also eclipsed less senior-sounding titles in recent years, with companies hiring chief human resource officers (CHRO) & chief people officers (CPO) in lieu of HR directors, the research found. These trends point to the increasing complexity of HR roles, Akan told HR Brew, and show how companies are placing a higher premium on HR talent due to current events and globalization. (HR Brew)

The Future of Recruitment: Look for an AI Supercharge & a Focus on Quality of Hire While just 27% of talent professionals say they’re using or experimenting with generative AI right now, 62% are optimistic about its impact on the recruitment process. Among those already using AI in their roles, the biggest benefits are being able to write job descriptions faster and more easily and being able to automate tasks to spend time on more fulfilling work, away from the mundane. Acceptance & adoption of generative AI presents both the biggest challenge & the biggest opportunity for the industry according to Mike Smith, Cheif Exec @ Randstad Enterprise. Employers are increasingly recognizing the value in taking a skills-based approach to hiring & talent development, potentially increasing talent pools by up to 10x, tapping into diverse talent pipelines. The # of jobs listed on LinkedIn that omit degree requirements jumped by 36% from 2019 to 2022 & 73% of recruitment professionals say hiring based on skills is a priority. In LinkedIn’s Future of Recruiting report, 91% of recruitment professionals are focused on being agile to adapt to hiring needs, which means being able to work across functions, industries, and stages of the hiring process. Gen Z is 36% more likely to prioritize advancement opportunities & 34% more likely to care about skills development than other generations in the workforce, putting the onus on employers to invest in their growth to retain them.  (LinkedIn blog)

Health & Wellbeing: Less Zoom Yoga, More Trust Any effective approach to health and wellbeing should include: determination to move the relationship with our employees to one of trust. Rather than providing tons of rules on flexible working, adopt the Swiss Re approach where they tell their people, ‘own the way you work’. This tells their people that they are expected to know when, where and how they work best and that their needs will be accommodated. Instead of loads of policies, encourage your people to #DoTheRightThing as they did at Transport For London during the pandemic. When we feel trusted to do the right thing, we feel more energized & engaged. 70 separate studies show that feeling socially accepted is a key factor in helping our new hires be successful: creating a sense of belonging should be key to our health & wellbeing plans making it more effective for HR to be a mediator rather than grievance process administrator. (disruptivehr.com)  

Asynchronous Work: 3 Strategies to Make It More Effective To support a distributed workforce, HR leaders need to ensure managers are providing equitable experiences for employees, regardless of where they are located. To achieve this, Austrailia's Atlassian uses guidelines for asynchronous work: 

1. Consider collaboration time before hiring; 2. Default to online presence; 3. Record videos from your screen for asynchronous work. (HR Executive)

Staying Humble is the Best Way to Get Ahead in Business New research led by academics at the University of Sussex Business School, has challenged the conventional narrative of leadership and advises those seeking to reach the top to stay humble. Dr Elsa Chan, of the University of Sussex Business School, & researchers from the University of Colorado Boulder, & Nanyang Technological University, conducted a survey of 610 leaders across 18 industries & 21 job functions. They examined the relationship between humility, mentoring, status, & promotability, & found that leaders who were most humble had the potential to wield significant influence within their organizations. The research showed that those demonstrating characteristics of humility – notably being open to feedback, appreciative of others’ strengths and contributions and honest about mistakes – can accrue trust by building strong relationships amongst their colleagues; all of which can be instrumental in advancing careers & gaining influence within their organizations. Focusing on human capital theory, suggests people can improve their value with a greater focus on education & training. They found that humble leaders engage in behaviours that develop others naturally &, through this informal mentoring, build human capital and gain prestige, respect, and prominence. (HR Director)

The Evolving Role of Technology In Employee Wellness Programs The landscape of employee wellness programs has undergone a dramatic transformation leaving behind on-site fitness classes, weekly weight-loss meetings, & EAP hotlines. Today, there are robust wellness platforms that leverage technology to incentivise healthy habits & empower employees to take charge of their well-being. The key to successful tech integration lies in user experience. An ideal platform should be all-inclusive & user-friendly, avoiding overwhelming employees with confusing & disparate resources. This user-centric approach fosters a culture of well-being within the company. The platform serves as a central hub for resources but also offers a variety of program options tailored to each company’s specific needs & gamifies healthy habits through challenges with digital rewards & offers incentives to keep employees engaged. Technology has become an indispensable tool in promoting employee well-being harnessing the power of innovation, personalization, & a user-centric approach, companies can create comprehensive wellness programs that empower employees to make lasting positive changes to their health & well-being contributing to a healthier and more productive workforce, ultimately benefiting the company as a whole. (HR.com)

4 in 5 Employers Redesigning Workspace w/ Return to Office Despite the widespread implementation of onsite return policies across the world, a new report has found that many offices are not ready for employees to come back. Cisco surveyed 14,050 employees & 3,800 employers in 19 countries to look into their sentiments around office return policies finidng 80% of employers are mandating a full or partial return to office, w/ 78% expecting this arrangement to be the norm in the next 2 years.The findings come amid strong resistance to office-return policies, as the workforce appreciates the flexibility they enjoyed during the pandemic. Cisco's report, however, indicates that 72% of employees have positive feelings about returning to the office. Cisco's report said that employees are expecting their workplaces to accommodate increased collaboration, ideation, & brainstorming, as well as increased sense of belonging when they make their office comeback. Jeetu Patel, Cisco Exec VP & GM of Security & Collab, said making the office a magnet means creating experiences that employees will value: "To achieve this, organizations must embed hybrid work solutions, infused with AI, into office spaces to foster collaborative experiences for everyone."

(hcamag.com)  

71% of Finance Leaders Plan For Raises to Outpace Inflation CFOs’ plans indicate “how tight the labor market is right now and how important it is to find and retain top talent,” a Gartner chief researcher said. Even with tighter economic policy & pressure from boards & investors on profitable growth & employee productivity, CFOs are outpacing inflation that has now almost returned to a neutral rate below 3%,” Alexander Bant, chief of research in the Gartner finance practice, said in a statement. “The fact that most CFOs are planning for pay growth that exceeds the level of inflation indicates how tight the labor market is right now and how important it is to find and retain top talent.” In January, job search site Monster’s 2024 Work Watch Report found that 81% of workers said their current wage hasn’t kept up w/ the cost of living. Relatedly, an Eagle Hill Consulting analysis predicted that retention would be a particular challenge for employers in the first half of 2024, w/ more workers projected to quit from Jan. thru June. But workers who felt cared for by their employers are 60% more likely to plan to stay at their current organization for the next year, according to the recent results of financial services company MetLife’s 22nd Annual U.S. Employee Benefit Trends Study. (HR Dive)

Tech CEO Isn’t Backtracking On DEI, But Maybe Time to Let the Acronym Go DEI is losing battles in the market & in politics, but Hewlett Packard Enterprise CEO Antonio Neri is focused on a more acute DEI problem w/in companies: “the frozen mindset” of middle managers, as he called it in a conversation with CNBC’s Sharon Epperson during the virtual Equity & Opportunity Forum on Thursday. The tech CEO uses his own role as a key example of the work that needs to be done: When he became CEO in 2018, there was not a single woman among his direct reports. But Neri adds, “Let’s step back out of these acronym things and think about the actual conversations we need.“If you have a rational logical conversation with individuals about advancement of people, of course everybody wants to make sure everybody has an opportunity. When you think about the ability to be inclusive, you know, and have an opinion that you can share with others, generally, most people will say yes, absolutely. We want that. And so it’s less about the acronym ‘DEI’ and more about having the real conversation. (CNBC)

HR Expertise Needed on AI Ethics HR leaders are now at the center of conversations about AI ethics in the workplace. This is not only because they are responsible for shaping & administering employee-related policies but also because HR has been using artificial intelligence for years—whether it’s been acknowledged or not—thru vendor partners and key workplace technology platforms. The Deloitte Technology Trust Ethics team recently released findings from a new survey delving into C-suite perspectives on preparing the workforce for ethical AI. 100 execs shared their thoughts on establishing AI policies & guidelines for their organizations. The results paint a clear picture: HR leaders will be needed more than ever. While the C-level execs said ethical guidelines for emerging technologies such as generative AI were critical to revenue growth, 90% also stated that guidelines are important in maintaining employee trust. Over 80% also affirmed that ethical guardrails are essential in attracting talent. IBM experts point out that “generative AI can only learn from the data it’s trained on—and data tends to reflect existing inequalities.” When organizations encourage women to participate with gen AI at work, they are positioned to identify biased outputs & begin to shrink the gender divide.These findings present an opportunity for HR leaders and managers to tap into a population of employees who plan to leverage their employment as a stage for building new AI-related skills. “When we think about learning, &the excitement of learning, HR can find individuals who want to reinvent themselves professionally,” says Palmer.(SHRM)  

Hybrid Work Opening Up More Opportunities For Women A new survey shows work from home & office positively impacting career progression, inclusion, mental health. More than 6 in 10 (66%) women in a new survey fromthe International Workplace Group (IWG) said hybrid work helped level the playing field for career progression. Hybrifwork has enabled 53% of the respondents to go after promotions or apply for senior roles, while 43% said it allowed them to move into their new industry. Women w/ minority backgrounds also benefited w/ 61% saying it allowed them to apply for promotions or more senior positions, & 73% said it opened up more opportunities for them that they would not have had otherwise. 70% said hybrid work has helped their job become more inclusive, & 61% of respondents w/ a mobility disability agreeing with this--86% saying hybrid work made office-based jobs more viable for them. 27% reported improved mental health due to hybrid work, w/ 70% saying it had a positive impact on their careers. Hybrid work boosting work-life balance. IWG's report provides proof of this: 89% saying it helped them in balancing their work responsibilities & family commitments. Fatima Koning, Group Chief Commercial Officer, IWG, said their latest research is proof that hybrid working is a "transformative force in achieving a more equitable workplace." (HRD America)

Mercer study: AI, HR Leaders, Talent and the ‘Art of the Possible’ Artificial intelligence, employee skills and

workforce wellbeing are three themes headlining Mercer’s recently released Global Talent Trends 2024 report, which

captures compelling, future-focused perspectives from over 12,200 C-suite executives, HR leaders, employees and

investors. Kate Bravery, Mercer’s global insights leader & report author, says while these themes are interconnected,

executives & employees aren’t always motivationally aligned. To ease this disconnect, she says HR leadership is

essential in 2024. ewer than half of executives are confident their organization can meet customer demand with its current talent model, and inflation and capital concerns are shaping business plans. To address these concerns, many in the C-suite expect to double down on AI investment, reskill the workforce & push digital transformation this year..

(HR Executive)

Fostering Genuine Partnerships Between HR and Business Leaders A study by the Harvard Business Review found that the most influential HR professionals are those who can build meaningful relationships with stakeholders, understand the business, and communicate the value of HR initiatives. Therefore, building these relationships requires a combination of authenticity, empathy, and adaptability. Authenticity and emotional intelligence are the cornerstones of successful business partnerships. Aligning HR priorities with business objectives is essential for demonstrating value and impact. Investing in your professional development is key to staying relevant and credible. Embracing a growth perspective and a willingness to adapt is vital to long-term success. (Hacking HR)

Employers Are Feeling Optimistic About Hiring Recent data from ManpowerGroup shows 48% of US employers plan to hire this year. The Q2 US net employment outlook—measured by subtracting the percentage of employers that expect to reduce staff from the percentage planning to hire—increased by 4% YOY to +34%, according to a survey of 6,000 US firms, part of the company’s global survey of 40,000 respondents. Almost one-half (48%) of US employers surveyed planned to add staff in Q2, while 14% expected layoffs and 33% didn’t anticipate staffing

changes.Tech and manufacturing, along with IT, finance and real estate, industrials and materials, and healthcare, are the industries looking to do the most hiring, according to the survey. (HR Brew)

Why Paying Women An Equal Wage Helps — Not Hurts — Your Business Shocking but not surprising statistic as women have been given increasingly more responsibilities and influence in the business world but have never received the same compensation.1 survey found that people believe women are more ethical than men when it comes to their business dealings: people perceive women as making more ethical choices that do less harm & create more good. The same survey also touts that women are perceived as more likely to be mentors than men. Women who lend a hand to other employees to help them gain the skills, mindset, and abilities to level up at work are an asset. Confident women lead, show up & perform better--the link between higher pay and confidence is apparent. A study published in the National Academy of Sciences showed there was a correlation between higher pay & confidence amongst women in STEM fields. Women who know they are paid equally to their male counterparts seem to be more self-actualized at work than women who aren't paid equally and know it. The result can often be better work performance, a stronger presence in important meetings, and more self-confidence that they'll get the results that their organization is looking for. (Entrepreneur)

Incentivizing the C-Suite: Cash Is No Longer King, so What Works Now? Financial incentives are not a powerful motivator to improve executive performance and boost the bottom line, a new study shows. Here’s what companies can do instead to incentivize their leaders: Good leaders take great pride in helping others be successful and helping them achieve their personal goals, rather than solely focusing on financial benefits; it's important to senior executives making a mark & being an agent for change; the enticement of a real challenge. Companies that prioritize the ability for executives to leave a lasting impression on the company and its industry can tie those measurements into management incentive programs. “Any comprehensive evaluation of CEO performance should include factors like ESG [environmental, social and governance] and inclusion,” says Cheryl Stokes, CEO at CNEXT Partner, a Raleigh, N.C.-based leadership development company. “Metrics such as employee engagement, innovation & market adaptation are also critical. CEOs should also be evaluated on their ability to lead sustainably & inclusively, reflecting their broader impact beyond just financial outcomes.The best way to build a performance culture is to merge leadership and financial metrics equally. (SHRM) 

Feds Greenlight Pay Hikes, Flexible Work Incentives to Woo Skilled AI Talent In what one news report dubbed an “AI recruiting frenzy,” finding and keeping skilled AI talent has become a priority for most employers, who have said they are willing to hike pay levels 35-43% to secure staff knowledgeable in the technology. HR pros may recognize some of the strategies outlined in the OPM memo. For instance, employee retention is a top operational and HR concern for employers, and companies are adjusting compensation and benefits to improve retention rates, according to one survey.The pay incentives OPM authorized federal agencies to use — such as those meant to keep highly qualified employees filling a special agency need from leaving the federal government — echo this approach. In that circumstance, agencies can offer up to 25% of basic pay to an individual or 10% for a group. The incentive may be offered even if the employee doesn’t have a nonfederal job offer in hand, the memo said. Agencies may also use telework as a flexibility incentive, OPM noted.“Remote work can allow agencies to recruit and retain high-quality talent from geographically dispersed labor markets [and] reduce costs associated with real estate,” OPM said. Remote work can also “optimize performance and productivity through practices that help agencies sustain continuity of operations when one location is adversely affected by an emergency event,” the memo added. (HR Dive)

1st Friday of the March "Employee Appreciation Day"  On the first Friday in March, aka "Employee Appreciation Day," employee appreciation shouldn’t be limited to an annual holiday--instead, use it as an opportunity to put in some extra effort & recognize your employees’ achievements. When employees feel appreciated, they are more likely to be productive & stay with their employer for a longer period of time, according to a survey conducted by workplace recognition platform Bounusly. HR Brew asked HR leaders & workplace experts about plans & strategies to recognize employees: “At PwC, we value and appreciate our employees throughout the year, including providing opportunities for uninterrupted time away, " Yolanda Seals-Coffield, CPO, PwC.  “At Leapsome we provide employees with a budget to be used anytime throughout the entire month of March, encouraging them to spend time outside of work with their teams and colleagues from other departments doing fun activities,” Luck Dookchitra, VP, People & Culture.  “At Torani, we provide financial rewards to every team member, from ESOP shares & milestone achievements awards, to annual bonuses & long-term financial awards + opportunities for team members to meaningfully connect, have fun, and celebrate contributions together by hosting company-wide events throughout the year,” Becca Russell, Chief of People & Opportunity Development. (HR Brew)

2 Strategies to Take Inclusion In the Workplace Deeper Inclusion isn’t just about gender, race or ethnicity. It’s encompasses numerous variables that need to be addresed by promoting diversity of thought & the uniqueness of each individual within your company. DEIB is usually seen as a metrics game, but to make sure inclusion really happens & people don’t get bucketed into groups, companies need to make DEIB part of the everyday fabric of the organization. Only then will people be able to bring their specialties, skills, voices, values and whole selves to work. Use technology to fuel stronger internal communication & ramp up your DEIB training workshop frequencies. Tweaking your DEIB efforts in ways that go beyond traditional DEI, you’ll encourage employees to become more self-aware and aware of their colleagues, which will work to show everyone where and how their unique contributions can drive company success. (HR Executive)

Why People Don’t Want to be Managers & What to do About It  The general decline in workers’ keenness to take the conventional career path has profound implications. HR chiefs must rethink their strategies in areas ranging from employee retention to succession planning.A recent survey by recruitment consultancy Randstad suggests that almost 1/2 of employees have little interest in climbing the greasy pole. While 56% of respondents considered themselves to be ambitious, 1/3 said that they had no intention of becoming managers. Jess Munday, co-founder & HR Chief of Custom Neon, believes that such findings reflect a “changing perspective on what ambition and success mean."  More are associating managerial jobs with stressful workloads for which no pay rise can compensate, according to Munday, who believes that this view is deterring potential managers from seeking such roles. Instead, people are prioritising work/life balance & valuing their wellbeing & self-fulfilment as much as, if not more than, traditional career advancement. "Offering people more project work or to delegate some managerial tasks, as that still enables us to promote learning and growth, avoiding stagnation” Munday explains. Also, ensure that existing managers serve as positive role models. Bruce Watt, SVP at Leadership Consultancy DDI, believes that too many firms promote high performers to management roles whether they’re suited for these or not. It may be a better solution to bring in others who seek leadership positions. (Raconteur) 

Sourcing vs. Recruiting: The Key Differences and Processes According to research from LinkedIn’s Future of Recruiting, 87% of talent acquisition (TA) professionals indicate that recruiting is becoming more strategic. This indicates a shift in the role of recruiting leaders towards a focus on driving business change. Sourcing and recruiting are essential parts of the talent acquisition process. While they have specific functions, they work best when combined, creating a more efficient hiring system. Sourcing is like casting a wide net to attract the most qualified candidates through outreach messages while recruiting narrows it down by selecting the most suitable candidate for the position by screening resumes, interviewing, and evaluating via assessments. (aihr)

Most Employers Lack Guidance for Using AI “For many organizations, it’s the Wild West re: how they are adopting & implementing AI,” a Gallagher expert said. About 71% of organizations don’t provide guidance around when, where or how to use artificial intelligence tools in the workplace, according to a Feb. 8 report from Gallagher. On top of that, 13% of communicators were unsure if their organization even used AI, & half were skeptical about the impact of AI. While adopting AI, organizations should focus on the basics, training opportunities & feedback mechanisms to measure ROI, according to the report. New AI tools haven’t replaced the importance of human connection. About 84% of communicators said they rely on managers for communication to some extent, especially around strategy, vision and purpose; values, behaviors and culture; & organizational change integration. Many front-line employees may feel communication with managers is lacking, according to a survey by SafetyCulture. About 40% of workers said communications from management were “out of touch,” & 30% said internal communications got in the way of performing their roles.  (HR Dive)

Ways to Lead for the Unique Needs of Gen Z  Gen Z employees are especially tough to attract, but also to retain. 83% of Gen Z workers consider themselves to be job hoppers, & 75% wouldn’t hesitate to leave a job, even if they don’t have another one at the ready, according to a poll by ResumeLab. Gen Z workers want to see where things are going. 71% of Gen Z workers have spent increased time evaluating their life’s priorities, & 34% are worried about the future, according to the Cigna data. Leaders need to pay Gen Z workers fairly, provide pay transparency, Leaders need to pay Gen Z workers fairly, provide pay transparency, & be clear about the career progression they can expect  be clear about the career progression they can expect. Try to ensure, that their work is meaningful & well-matched to what they’re passionate about: 72% say having satisfying job duties is more important than salary. Other impactful ways to lead: provide growth opportunities, promote team-building and connecting with colleagues, & offer a work environment that fosters a healthy work-life balance. (Fast Company)

Improving Pay Equity: It starts w/ the Hiring Process As both organizations & prospective employees increasingly evaluate dynamics around compensation, improving pay equity is becoming a key focal point in the ever-critical hiring process. Pay equity: fair & consistent compensation of employees based on their skills, qualifications, responsibilities & performance regardless of gender, race, ethnicity, age or other characteristics. The hiring process is one of the most influential drivers of pay equity, as this is when leadership designs the role, sets the title & level of the role, and determines the salary range, incentive targets, hiring bonus, retention bonus & obviously the actual compensation offer.(HR Executve)

HR Leaders: How to KeepTop Talent In Light of Disconnect & Burnout "You need a really strong partnership between the business leader & talent leader,” according to Bijal Shah, interim CEO of Guild. Keeping good workers starts w/ having good leaders—& both CEOs and HR need to come together in formulating a plan. For companies to retain their best employees, Shah recommends a two-pronged approach: HR should provide learning opportunities for workers, while business leaders should look to understand & interact with people on a human level. Designing internal mobility paths for workers ensures they get the training they need to grow shows that the company is invested in their futures. Bosses should prioritize branching out & engaging w/ their employees face to face. Shah adds it’s critical that business leaders acknowledge the importance of their employees in driving company strategy—alongside HR’s duty to train workers in forward-projecting skills. (Fortune.com)

As States Drop Degree Requirements, Employers Still Seek Out College Grads Although new policies are propping up workers w/out degrees, experts say higher education will continue to play a role in hiring decisions & pay rates. The move was part of an effort to fill a large number of position vacancies. However, in a new report, Georgetown CEW projects that workers will increasingly need greater levels of education to succeed in the modern economy. By 2031, the report’s authors estimate that 72% of all jobs will require postsecondary education or training — increasing from about 68% in 2021. The 2031 prediction includes that 42% of jobs will require at least a bachelor’s degree. “Even though states are removing the B.A. as an entry-level requirement for jobs, they are not removing the B.A. as a promotion requirement or as a requirement for more senior positions,” said Nicole Smith, chief economist @ Georgetown University Center for Education & the Worforce.  (HR Dive)

Could We Be Working For Even Longer? According to a new study by the International Longevity Centre, UK state pension age should soon be raised to 71, calculating the % of over 65s relative to the working age population across 121 countries. It then split the countries into groups based on their healthy aging and prevention index ranking; assessing lifespan, health span, work span, income, environmental performance & happiness.It found that in the highest-ranked countries where populations are rapidly aging, there won't be sufficient people of working age to sustain economic performance, pay taxes & fund pensions, if the age of retirement isn't significantly raised. Currently, there are more than 3 people of working age per retiree in the UK, this could drop to less than two by 2050. It raises important questions for business leaders, who may find themselves managing increasingly elderly workforces. (Raconteur)

 HR Leaders Can Learn From Taylor Swift Make key stakeholders feel heard by careful design, think how Swift’s strong, relatable messaging makes her target audience of young girls feel more “heard from,” more hopeful, stronger and more confident. Swift demonstrates executive presence while projecting as an extremely positive, high performer who is always present and builds her network. She appears to listen carefully to what other people say, surrounds herself with high-quality advisors with whom she collaborates, and then executes what she wants to do—or, more precisely, what she needs to do. As an HR leader, your “audience” isn’t exactly a stadium full of screaming fans or the hundreds of people involved in making a pop star’s music & marketing machine work. But your employees deserve to feel just as “heard” as the Swifties do. (HR Executive)

Another Shockingly Good Jobs Report Shows America's Economy is Booming The January jobs report showed that the US economy added a stunning 353,000 jobs last month, confounding market expectations Friday morning and pushing up Treasury yields. The unemployment rate stayed at 3.7%. Job gains were mostly focused in health care and social assistance, according to the Bureau of Labor Statistics. A new CNN poll shows the public’s long-held pessimism about the economy is easing — but a majority of Americans still think the US economy is in trouble. While the latest jobs numbers underscore the strength of the US economy, it remains to be seen if the data could push back the timeline for interest rate cuts, which markets were hoping would start in March. Fed Chair Jerome Powell poured cold water on that notion Wednesday, saying there would be no rate cut that month. Friday's whopper of a jobs number certainly confirms that. (CNN)

4 Qualities Of Successful Chief Revenue Officers In 2024 & Beyond “While the role of Chief Revenue Officer (CRO) is fairly new, organizations are increasingly embracing this position. According to LinkedIn’s 2023 Jobs on the Rise list, the title of CRO, sometimes known as Head of Revenue Operations or Revenue Management, is the fastest-growing job title in the United States, and for good reason. CROs must be disruptive, big-picture thinkers who are constantly on the hunt for new ways to generate revenue for their organizations and optimize processes and systems to drive business growth. As consumer purchasing trends and selling markets continue to evolve into 2024, the most successful CROs may need to adopt traits and behaviors to stay agile and position their organizations for future success.Today’s CROs drive more than new business salesby taking a holistic view of the customer journey and collaborate with different departments across the business, from marketing to sales to customer success, to ensure each customer phase or touchpoint is accounted for. (Forbes)

Is It Better to Select a CEO Who Is an Outsider or an Insider? A new working paper suggests the best option

might be a candidate who is a bit of both. For example, an executive who runs one of the firm’s subsidiaries but isn’t in

a leadership role at the parent company might be the top choice, WSJ reports. The paper’s author, Tingyu Du, a Ph.D.

student at UCLA Anderson School of Business, describes CEOs promoted from subsidiaries as “hybrid CEOs.” Du’s

research suggests these types of leaders seem to be especially effective during times of economic and/or industry

turbulence.“Hybrid CEOs perform better than insiders or outsiders because, on the one hand, they are knowledgeable about the company culture and capabilities, and on the other hand, they have an outsider mindset, being more open to new ideas, and they haven’t been part of the head office.” (WSJ)

New Study Lists Top 10 Countries w/ Best Work-Life Balance The index score appears to be a consolidation of multiple factors, including statutory annual leave, minimum statutory sick pay percentage, minimum wage, healthcare system, happiness index, average weekly work hours, and LGBTQ+ inclusivity. Universal

government-funded healthcare systems were a common factor among the top 10 countries with the best work-life

balance, which is not surprising—healthy employees do make good workers. The top 10 countries on this list included:

New Zealand, Wellington; Spain, Madrid; France, Paris; Australia,Canberra; Denmark, Copenhagen; Norway, Oslo;

Netherlands, Amsterdam; United Kingdom, London; Canada, Ottawa; Brazil, Brasilia (HR Digest)

AI Jobs Are Among the Fastest-Growing, Even As Many People Fear the Technology. Allie K. Miller, who got her start builiding AI products at IBM & then led machine learning-focused business development for startups at Amazon Web Services (AWS) told LinkedIn News: “One of the biggest challenges at the moment is to de-noise the space – there is so much going on in AI. A lot of clients bring me in and they go: ‘The world of AI is insane. What are the 2 things we need to focus on?’” Miller is not alone: the AI market expected to grow 20-fold by 2030 and 73% of U.S. orgs already adopted the technology in some form or another, AI has become increasingly top-of-mind for CEOs & board members alike. AI-related roles & titles that were recently non-existent are surging in demand. This is reflected in LinkedIn’s 2024 Jobs on the Rise list, which captures the fastest-growing jobs in countries around the world over the past 5 years. 2024’s report reveals increasing demand for AI-related roles such as AI consultants, VPs of AI & AI engineers across the globe. The role of AI Consultant appears near the top of the ranking in the U.S., at No. 8. Company AI leaders or VPs of AI are also growing in prominence, though those senior roles don’t yet feature in the top 25. The number of U.S. businesses w/ a head of AI on staff increased by 10% btwn August 2022 & August 2023, w/ the number of people holding these positions also growing 2.7%. 

(LinkedIn News)

Technically HR: Got ‘Zoom fatigue’? “Zoom fatigue” is real. A recent study of university students found detrimental effects to participants’ fatigue levels after video conferencing on apps like Zoom, Teams, & Google Hangouts. Our virtual & flexible world of work also poses significant challenges for employers & HR pros: team cohesion, employee isolation, communication woes, & costs associated with travel bringing disparate employees together. Microsoft is betting virtual reality may help address some of these concerns.“We’ve done a ton of work over the last few years to make these hybrid meetings now more effective and more inclusive,” said Microsoft’s Nicole Herskowitz, VP of Teams. “But what we also know is that to really have a truly flexible workplace, employees are going to just need new technologies that help them feel more connected.”MS is bringing its VR technology—MS Mesh—to Teams, allowing for 3D immersive experiences for Teams meetings. 

(HR-Brew)

Companies Could Be Making A Big Mistake In the Way They’re Doing Layoffs Despite brightening economic data 2024 has started off with layoffs. According to Peter Cappelli, professor of mgmt & director of the Center for HR @ University of Pennsylvania’s Wharton School, when a company announces incremental layoffs, while avoiding immediate bloodletting, it instead sets off a chain reaction of unintended consequences. “You will panic people & lose people who will quit rather than stick around and wait for the next round of layoffs, so that’s an incredibly bad idea.” In Cappelli’s view, the current wave of layoffs is not because of the economy, but rather because companies are feeling pressure from investors to cut costs. The cuts make investors feel like the company is being proactive, but that’s all the layoffs accomplish, Cappelli said, adding, “These layoffs won’t do any good.” 

(CNBC)

 Wellness Is Not A Trend Wellbeing eaders find that holistic strategies prioritizing well-being must involve senior leadership, foster authentic connections, and adapt to the changing landscape of work to be successful. “by combining technology and human connection to prioritize the employee experience, employers can help build trust and demonstrate care for workers.” (HCA Mag)

Over 70% of Organizations Expect AI to Impact Their Hiring Plans in the Next 2 Years  Generative AI is impacting talent strategies now. In a recent Deloitte survey with 2,835 business and technology leaders involved in piloting or implementing generative AI in their organizations, over 70% said that they expect to make changes to their hiring strategy in the next 2 years because of AI. Employees are more optimistic than leaders might think. 

In fact, 71% of workers say AI gives them a sense of empowerment, and 76% agree that AI could make it easier & quicker for them to find information—huge numbers. 

(Superhuman AI)

CEO Optimism Doubles As Inflation, Macroeconomic Concerns Recede Executives expect more pressure in coming years due to technology and climate developments, a PwC survey indicates. CEO optimism is growing as concerns about inflation & economic volatility fall, w/ the proportion of those who believe global economic growth will improve during the next 12 months more than doubling from 18% to 38% year over year, according to a Jan. 16 report based on PwC’s Annual Global CEO Survey. “As business leaders are becoming less concerned about macroeconomic challenges, they are becoming more focused on disruptive forces within their industries,” Bob Moritz, global chair of PwC, said. Generative AI, in particular, appears to be a catalyst for reinvention, according to the report. Overall, CEOs believe AI tools will boost efficiency, innovation and transformational change. 70% of those surveyed said it will significantly change the way their company creates, delivers and captures value in the next three years.To keep up with the changes, training is a must, 

the CEOs said. About 69% said workforce upskilling will be required to see the transformative benefits of generative AI. 

(HR Dive)

How HR Acts as a Catalyst for Organizational Growth and Success Artificial intelligence (AI) has emerged as a game-changer, revolutionizing key aspects of HR, such as recruitment, training, employee development, talent management, etc. While the benefits of AI in HR are undeniable, it is crucial to address ethical considerations surrounding data privacy, algorithmic bias, and transparency. Organizations must implement robust policies and ensure transparency in AI-driven processes to build trust among employees & maintain ethical standards. While there is no one-size-fits-all solution to creating a healthy workplace, safety is a large component of the culture many are seeking as they consider employment opportunities. Even as laws change, employers can always restrict the use of drugs in the workplace to create a safe environment for their staff. Increasingly, HR teams find themselves on the front line, along with their IT counterpart, in the fight against data breaches. The reason is simple. According to the 2023 Verizon Data Breach Incident Report (one of the most comprehensive reports available on security incidents), 74% of breaches involved the human element – meaning people making mistakes, being tricked (social engineering), or misusing information they already have. 

(HR.com)

Will Workplace Flexibility Be ‘Less Flexible’ In 2024?  Achievers (500+ pp), finalized its “colocation strategy,” requiring employees to report to company hubs on two set days a week. CPO Hannah Yardley said the strategy was necessary after their hybrid work arrangement was lacking consistent, in-person collaboration which posed a real threat to the development of employees and the “opportunities for creativity and growth” of the business. Opting now for “anchor days” for intentional, collaborative work, an approach that Yardley says will enhance innovation while still enabling the workforce to take advantage of the various other dimensions of workplace flexibility Achievers offers. 

(ER Executive)