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'It's important for people entering the HR function to not only understand the business strategies and priorities but also appreciate the organizational context as well.'
This article was first published on August 24, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders, and has been adapted for HealthLeaders.
Human resources (HR) leaders in healthcare can learn and take valuable information from HR leaders in other sectors. In this article, read how one leader is championingtalent, leadership, DEI, and HR at her organization.
Before Elizabeth Derby started her career in HR, she was a Public Finance Banker, dedicated to creating access to affordable housing for people in underserved communities. While she enjoyed the business and strategy aspect of that work, she gravitated to the people side and was ultimately tapped by leadership to assume several high-profile HR roles.
Elizabeth Derby
Today, she serves as a Managing Director at Kincentric where she utilizes a business-aligned and integrated approach to solve people, talent, and culture challenges, with a focus on talent, leadership, DE&I, and HR. She appreciates the interdependencies and linkages of these focus areas, because in her words, rarely does an organization have just one issue they need to solve to achieve their business goals.
In our latest Faces, meet Elizabeth Derby.
How did you get your start in the field?
Clients and colleagues will often say to me “You’re not the typical HR person.” I think of myself as a businessperson first and an HR specialist second. I sometimes say that I became the very statistic that I was trying to prevent by moving out of a line role into an HR role. A sponsor of mine tapped me on the shoulder and asked if I’d build out the firm’s nascent Global Diversity, Equity & Inclusion (DE&I) practice. I jumped at the chance, as I have always been open to new opportunities and like to re-invent myself every 7-10 years.
What’s your favorite part about working in the industry? What’s your least favorite part, and how would you change it?
My favorite part about working in HR is the change you can inspire and the impact you can have on organizations and individuals. When I first moved into HR in the mid-1990s, I was Head of Campus Recruiting for Investment Banking. We created new fellowships and scholarships that provided access for under-represented talent to opportunities in banking that participants would not have thought possible. Fast forward to today and those same individuals are now in c-suite roles creating opportunities for other under-represented talent. I like seeing that multiplier effect.
I enjoy working to solve challenging people-related issues that may be negatively impacting the business. I’ve also been fortunate in HR roles to both directly and indirectly bring in new business for the company. While this may not be typical in internal HR roles, if you align yourselves with the business and bring a needed specialty, you’re able to have a broader impact. In my case, my DE&I expertise and ability to leverage my external network enabled me to contribute in this way.
Today, as a consultant, I get to work with CEOs, CHROs and, other executives to develop their leaders, people strategy, talent practices, and DE&I approaches to drive meaningful change. I start off by understanding my client’s business as well as their challenges and needs so I can provide more holistic solutions. It is extremely rewarding to know you’re a part of enabling, and in some instances accelerating, their business success.
My least favorite aspect is that some HR teams continue to work in silos and create activity over impact. I would change that by having cross-functional agile teams aligned against a specific issue the organization is trying to solve. I saw this work effectively at one organization when we needed to decrease unwanted attrition, as it was costing the firm thousands of dollars, draining institutional knowledge, and negatively impacting our ability to serve clients well.
How can HR most effectively demonstrate its value to the leadership team?
HR is critical to enabling organizational performance. To optimize its impact, HR should directly align its strategic planning process and goal setting to the business strategic planning process and timeline. In doing so, HR can more effectively demonstrate its value by linking its work and quantifying its impact to the organization’s key business objectives. That’s why my guidance for HR professionals is to start with an understanding of the business, including key objectives, strategic priorities, and any areas where the organization might need to mitigate risk. By fully understanding the challenges that the business is facing and knowing where it wants to go, you can provide more effective guidance and tailor solutions that align with the business strategy to drive desired outcomes. There’s an opportunity for HR to increase its data fluency and storytelling capabilities to influence the business to make more objective, data-informed decisions and to tell the story more effectively about how HR adds value.
Where do you see the industry heading in five years? Or are you seeing any current trends?
While the pandemic was incredibly stressful for HR departments, one silver lining is that many of them had to come together quickly to solve very challenging issues. This has helped HR teams develop a collaborative, strategic problem-solving approach that they may not have used previously. I hope this agile, cross-functional approach continues as a trend as companies grapple with ongoing and future challenges.
In terms of key trends, I recently led some research with CHROs and Heads of Talent at leading organizations globally to gain deeper insights around the critical importance of people and talent in driving business outcomes. We identified five key “game changers” that should guide HR teams into the future:
Make culture your competitive edge for attracting and retaining talent.
Transform the talent you have into the talent you need.
Realize that future-ready talent will need future-ready leaders.
Integrate DEI across all facets of talent and leadership.
Stay ahead of the curve with talent insights and analytics.
Additionally, people analytics is an emerging focus for many HR teams and is a critical skill for HR practitioners and teams. I expect to see an uptick here over the next five years in terms of the investment in and sophistication of people analytics.
One thing that has the potential for transformative impact is AI and its multiple constructive use cases across HR. But there are clearly risk factors that must be addressed, and HR should play a pivotal role in determining their organization’s approach to and usage of AI. However, no matter what is in the works, there will always be a need for transformation and new ways of working, making this such an exciting time to be in HR!
Do you have any advice for people entering the profession?
It’s important for people entering the HR function to not only understand the business strategies and priorities but also appreciate the organizational context as well. You’ll soon learn that you cannot simply “lift and shift” best practices. Something that has worked well in another organization may not work in yours. Invest the time upfront to analyze what’s working well/what isn’t and get to the root cause. Examine your context, organizational maturity or readiness or missing foundational elements in your approach. My other advice would be to take a data-driven approach and understand the metrics that matter. Determine how you can translate people metrics into language that resonates with the business. For example, if retention is a pain point, you could quantify the amount of cost savings for each one percentage point decrease in unwanted attrition.
There's still work to do when it comes to the workplace fostering skills and abilities that employees need to succeed.
This article was first published on August 25, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders.
Training and development teams have improved exponentially in recent years, in large part because organizations increasingly see the value of employee training and development and have increasingly allocated funding to support those efforts.
While those tasked with training and development have made great strides, there’s still work to do because of the ever-changing nature of the workplace and global economy and the corresponding change in the skills and abilities needed to succeed.
In an article for Forbes, an expert panel calls out 11 topics learning and development teams often overlook. We won’t go through all 11, but here are a few that caught our attention.
Mindfulness
Mindfulness has increasingly been recognized for its mental health benefits. Some experts believe this meditation technique can and should also be leveraged in the workplace.
“We’ve seen very few employers fully incorporate mindfulness into learning and development programs,” says Natalie Norfus with The Norfus Firm, PLLC. “The Covid-19 pandemic and related events have had a tremendous impact on our collective psyche and how we process conflict and misunderstandings,” she says. “Being able to pause and understand where your colleagues are coming from is a crucial way to prevent small issues from ballooning.”
Accountability
Ownership and accountability are increasingly important in a tight labor market because there are simply fewer people to pass the buck to.
“Employee training only raises awareness but accountability changes culture,” says Robyn Arville of the Natural Resources Defense Council (NRDC). “One-off events need to be deployed as part of a more comprehensive change-making effort. It should also be interconnected with a cumulative set of interventions to understand the root causes of why training is needed. Accountability measures help during pre- and post-onboarding, longitudinal impact tracking, evidence-based practices and behavior metrics.”
Career Paths in the Organization
While employees certainly need to know how to perform their current job duties, a key part of a strong employee retention strategy involves developing workers for greater responsibility further along in their careers. Unfortunately, many employers don’t do a good job of educating their workers on available opportunities.
“Employers must value the whole person, looking beyond an employee’s current role to see where they may be able to grow within the organization,” says Shay David with retrain.ai. “When HR innovators invite employees to explore career-pathing options and learn about upskilling opportunities, they boost employee engagement and retention—and their best people are statistically less likely to look for their next opportunity elsewhere.”
Those interested in reading the full list of frequently overlooked training and development topics can find it here.
Countless employers across the country are desperate for some relief in the labor market.
This article was first published on August 24, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders.
The U.S. economy, and the labor market in particular, has vexed experts and observers for months now. Despite doomsayers predicting imminent recessions and others pointing to widespread tech layoffs as a harbinger of a more general end to the Great Resignation (and despite months of aggressive central bank interest rate hikes), recent data illustrates just how strong and stubborn certain labor market conditions still are.
The Yin/Yang of Workforce Data
While the U.S. economy added the fewest jobs in 2.5 years in June, data indicates a labor market that’s still pretty tight—a market that will likely result in more interest rate hikes from the Federal Reserve, says Lucia Mutikani in an article for Reuters.
“The Labor Department’s closely watched employment report on Friday also showed 110,000 fewer jobs were created in April and May, indicating that higher borrowing costs were starting to dampen businesses’ appetite to continue boosting headcount,” Mutikani writes. There was also an increase in part-time workers, likely due to an economic situation that’s driving jobseekers to consider new options.
Still, the pace of job growth remains strong when compared with historical data and is “showing an acceleration in services sector activity in suggesting that the economy was nowhere near a long-forecasted recession,” according to Mutikani.
A Mixed Bag
This news is a mixed bag for employers. A strong economy is generally good for business. At the same time, countless employers across the country are desperate for some relief in the labor market, which has been incredibly tight in the wake of the COVID-19 pandemic.
Nevertheless, the Department of Labor’s data does suggest that some sectors of the economy are seeing a greater supply of available labor than previously, and big tech layoffs are certainly an important component of that.
Staff-hungry employers should consider working greater flexibility into their hiring and recruitment policies to help take advantage of the slight increase in the availability of part-time workers and victims of recent tech layoffs.
While contingent work can offer both the employer and employees greater flexibility, that flexibility isn’t always ideal.
The labor market has undergone many fundamental shifts over the course of human history. The transition from hunting and gathering to agriculture, the transition from agriculture to widespread factory work, and the shift from industrial labor to the information economy represent some of the most important headlines in this millennia-old trend.
Healthcare leaders, employers, and HR professionals shouldn’t assume we now live in some kind of post-history, monolithic normal that will remain static. Indeed, the way employees work and even what’s considered “work” or who’s counted as an “employee” continue to change.
The Rise in Contingent Work …
According to data presented in the Future of HR report by McLean & Company, contingent work in particular will continue to change the relationship between employer and employee. “Compared to rates before the pandemic, organizations’ contingent worker population has increased by 56%,” according to the report. “Meanwhile, contingent software developers and healthcare workers rose by 214% and 65%, respectively. This trend is likely to continue with the growth of technological platforms that enable employees to act upon more fluid conceptualizations of work. The market for global freelance platforms is projected to reach $18.3 billion by 2031, expanding at a compounded annual growth rate of 15.1%”
While contingent work can offer both the employer and employees greater flexibility, that flexibility isn’t always ideal. When it comes to employers, the concern is that contingent workers just won’t stick around as long as traditional employees.
… And the Loss of Loyalty and Longevity
The McLean & Company report notes that employees are fairly evenly split when asked how economic conditions might impact their contingent worker status. It found 51% of contingent workers who responded felt confident in their work stability despite a potential recession, while 45% reported they would consider leaving a contingent work assignment early if economic conditions became unstable.
The changing nature of the U.S. and the global labor market is nothing new. Change is a natural part of the interplay between employer, employee, government, and other players. The key for employers is to stay up to date on what emerging trends may be on the horizon and adapt accordingly, especially as these trends threaten employee engagement, productivity, and retention.
This article was first published on August 22, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders.
'My approach is rooted in the belief that diversity is not just about representation, but also about creating an environment where individuals can thrive, contribute their unique perspectives, and reach their full potential.'
This article was first published on August 17 2023, by HR Daily Advisor, a sibling publication to HealthLeaders, and has been adapted for HealthLeaders.
Human resources (HR) leaders in healthcare can learn and take valuable information from HR leaders in other sectors. In this article, read how one leader leads with unwavering determination and a passion for creating lasting change.
After graduating from Florida Memorial University with a degree in communications, Monica Davis intended to pursue a career in journalism. It was her childhood dream: telling stories that mattered. However, when an opportunity to work in HR presented itself, Davis’s curiosity wouldn’t let her pass it by.
Monica Davis
“I’ve learned that what drew me to journalism is the same thing that motivates me in my work in HR, and that’s a drive for justice,” she recently shared with HR Daily Advisor.
Fifteen years later, Davis hasn’t looked back, allowing her passion for understanding people and their unique experiences and perspectives to propel her forward in the field of diversity, equity, inclusion, and belonging (DEIB). According to Davis, working in HR has been the most rewarding decision she’s ever made.
“My career has been defined by a relentless pursuit of equity, equality, and empowerment,” Davis says. “As an Afro-Latina, my firsthand experiences of workplace othering have motivated me to endeavor to prevent others from experiencing the same. With a background in HR management and extensive experience in organizational and leadership development, I have dedicated my professional journey to creating inclusive and equitable workplaces that celebrate diversity and foster belonging.”
Over the course of her impressive career, Davis has worked with myriad organizations, including the Miami HEAT and CHG Healthcare, where she helped drive cultural transformations and implemented DEIB initiatives that dismantled systemic barriers.
“My approach is rooted in the belief that diversity is not just about representation, but also about creating an environment where individuals can thrive, contribute their unique perspectives, and reach their full potential,” Davis explained. “I have had the honor of working closely with influential figures and activists like Ruby Bridges. Their journeys have inspired me to amplify marginalized voices and advocate for policies that ensure fairness and equal opportunities. I strive to build bridges between people of different backgrounds, encouraging dialogue and collaboration to create workplaces that reflect the rich tapestry of our society.”
Currently, she serves as the Director of Talent Experience, DEIB at software development company EngageSmart, where she leads with unwavering determination and a passion for creating lasting change.
In our latest Faces of HR, meet Monica Davis.
Who is/was your biggest influence in the industry?
I am immensely inspired by the inimitable Michelle Obama. Of course, she doesn’t formally work in HR or DEIB per se, but her initiatives as first lady and as a public advocate and thought leader promoting diversity, equity, and inclusion have been an invaluable influence on me. She embodies the values I hold dear: compassion, empathy, and the belief that every individual can make a difference. Her commitment to creating a more equitable society, particularly through her work to improve education and empower young girls and women, has been instrumental in shaping my own approach as a DEIB leader. Mrs. Obama’s ability to connect with people from all walks of life, listen to their stories, and advocate for change is truly inspiring. She reminds me that our work goes beyond boardrooms and spreadsheets. The HR field is about enhancing and celebrating the lived experiences and aspirations of real people.
What’s your best mistake, and what did you learn from it?
One significant mistake I made early in my career ultimately taught me one of the most important lessons I’ve learned as an HR and DEIB professional, and that’s the value of ceding control. As a highly driven person who is passionate about making an impact, I believed that if I wanted something done right, I had to do it myself. I underestimated the power of collaboration, and I often found myself shouldering a disproportionate amount of responsibility and trying to tackle everything on my own. While I’m proud of my hard work and ingenuity during this period, it was also unsustainable for me and limiting for my projects. I learned that no one person has all the answers or possesses all the skills needed to succeed. Today, I prioritize building strong, collaborative teams informed by multiple perspectives and skill sets, and I recognize that success is not a solo act but a collective effort.
At EngageSmart, collaboration is in everything we do in the HR department and beyond. This approach is especially important when it comes to areas like DEIB so that we ensure every voice is represented in the programs, policies, and practices we implement.
What’s your favorite part about working in the industry? What’s your least favorite part, and how would you change it?
My favorite part about working in the DEIB industry is the opportunity to make a meaningful impact on individuals and organizations. Witnessing the transformation of workplace cultures brings me a lot of joy and fulfillment. Whether it’s working to implement new cultural initiatives across the NBA or hearing my EngageSmart team members share how they take advantage of flexible work hours to coach their kids’ sports teams, it’s incredibly rewarding to see the positive ripple effects that DEIB initiatives have on people’s lives, enabling them to thrive and reach their full potential. My least favorite part of this industry is the persistence of systemic barriers that hinder progress toward true equality and inclusion. Addressing deep-rooted biases, dismantling systemic inequities, and driving lasting change require ongoing active effort and perseverance. This is why I am committed to showing up every day and using my voice boldly to push for positive change.
It sounds like, through your experience, you really care about people, and you want to help them feel safe and comfortable, which is important in the industry. Please elaborate here.
As an Afro-Latina, I deeply understand the profound impact of representation and the significance of belonging. Throughout my career, I have experienced firsthand the feelings and challenges of being an “only” in certain spaces. That’s why I’ve made it my mission to work toward a future where others do not have to face those same obstacles. Ultimately, my goal is to empower individuals to reach their full potential and contribute their unique talents to the collective success of an organization. I believe that when people feel safe, supported, and comfortable, they can unleash their creativity and work productively toward innovation, leading to positive outcomes for individuals, organizations, and the customers those organizations serve.
How can HR most effectively demonstrate its value to the leadership team?
For those of us in HR, its value is obvious. But for broader leadership, the proof of HR’s value—and even more specifically DEIB’s value—is in the numbers. Data bears out the fact that inclusive practices spark innovation, foster collaboration, and enhance organizational performance. At EngageSmart, we conduct annual employee surveys to measure the success of the programs, benefits, and policies that we’ve implemented and use feedback from those surveys to guide us in our future planning. Another message that resonates with the C-suite is around talent. DEIB is invaluable when it comes to attracting and retaining top talent, improving brand reputation, and mitigating risks associated with discrimination or exclusion, which further emphasizes its value to the leadership team.
Where do you see the industry heading in 5 years? Or, are you seeing any current trends?
In the next 5 years, I anticipate DEIB will continue gaining momentum and be recognized as an integral element of organizational strategies, not just a “nice-to-have.” Increasingly, organizations are recognizing the importance of diversity, equity, inclusion, and belonging as drivers of innovation, productivity, and overall success. I’m confident that DEIB will continue evolving as a critical force in shaping workplaces that are truly inclusive.
What are you most proud of?
I’m most proud of the impact I have had on individual people’s lives, both in the workplace and out, and the transformative changes I have facilitated within organizations. As a mom, my achievements hold even deeper meaning for me because I feel like I am doing my part to make the world a better place for future generations. Seeing individuals’ personal and professional growth brings me immense pride and fuels my determination to continue making a difference. It’s a reminder that the work we do today has the power to shape a more equitable world for our children and those yet to come.
Do you have any advice for people entering the profession?
My advice for those entering the HR and DEIB profession is to approach your work with a commitment to lifelong learning. I always say that I am a student first. Embrace humility, and actively seek diverse perspectives, as this will deepen your understanding and ability to foster inclusion. Build strong relationships with individuals across different backgrounds, and listen attentively to their experiences. Recognize that progress takes time and perseverance, so be patient and resilient in the face of challenges. Stay informed about current trends, research, and best practices in DEIB, and continuously seek opportunities for professional development. Finally, remember that true impact comes from collaboration and collective action, so actively seek partnerships, and cultivate networks of like-minded individuals.
LinkedIn has a bit of a reputation for being old-school. It isn’t the fanciest social media platform with the most bells and whistles, and its reach isn’t as wide as Meta’s products. But if you’re recruiting new talent and hoping to cultivate a great workplace, LinkedIn is the place to be. When people are looking for a job, LinkedIn is where they’re going to go, and the platform can be a useful tool for recruiters seeking new hires.
Although it isn’t the largest social media platform, it is pretty crowded—and becoming moreso. LinkedIn has 875 million members, and over 100 job applications are submitted on the site every minute (source). It’s a particularly intriguing platform if you offer flexible work locations, as many LinkedIn users are outside the US or looking for remote work. How can your business stand out from the crowd and attract high-quality applicants?
Effective company LinkedIn pages will help you:
Generate new leads on recruitment and hiring
Weed through a large amount of candidates with various skillsets
Improve your company’s SEO in general so that more people can learn about your products and services
But if your page isn’t optimized, people won’t see it. You don’t want to pour time, energy, and resources into a platform that isn’t giving anything back. Optimizing a social media page is one of those tasks that it’s easy to put off forever, but once you actually set aside the time and do it and tweak it properly, you may see a substantial difference in the number and quality of recruitment candidates you have coming through the door. Set a day aside to work on your company’s LinkedIn page instead of just letting it sit idle.
Here are five easy ways to optimize your company LinkedIn page to get more eyes on your recruiting content and more applications heading to your inbox.
Utilize Keywords in Your “About Us” Section
One of the most visited sections on your company page will be your About Us section, so you want to ensure it’s in tip-top shape. It should be aligned with your brand, describing your mission statement and clearly as possible, as well as how people can reach out to for more information and what it is that your company provides for people. It should also utilize keywords. People who are unfamiliar with your company will be searching for commonly used words in your industry, so make sure that there’s enough keywords in your page to attract attention (but not so many that it sounds clunky or unnatural). This isn’t the time to get creative with words; people won’t be searching “inner-self workshops” but they might be searching “yoga teachers”. Clarity beats cleverness when it comes to keywords, and your About Us section needs to be crystal clear. You also want to keep things short—a tight paragraph is all you need, as most people will simply be skimming.
Make Your Page Visually Appealing
LinkedIn isn’t exactly known for its beautiful design; there’s not a ton of room for personalization or branding. But there are options to add branded images in important places, and you should make sure you’re taking advantage of those. Company pages with profile pictures get six times more visitors than those without (source). That means your profile picture is of the upmost importance. Use a high-quality version of your logo that will stand out and attract attention. It’s also important to have a banner image, where you can have a bit more creativity and flexibility. Consider showing off your products, a snapshot of happy customers or employees, or any other image that goes well with your logo and makes your page attractive.
Post Video Regularly
Like every other social media platform, LinkedIn tends to prioritize video. It’s no surprise why, either—video attracts the most attention and keeps LinkedIn users on the platform. When you post content to your page, consider making it a video. In fact, video gets five times more engagement than static content on the platform (source). This can either be high-tech and fancy with animation, or lowkey, like an employee sharing why they love working for your business. You can even host live events within LinkedIn, like a career fair or info session for anyone interested in hearing more about your open positions. Although video seems complicated and like a lot of work, it’s almost guaranteed to perform better than a blog post or simple photo. So get out your camera, your most charismatic employees, and your director’s hat.
Invite Your Community In
A LinkedIn page with no followers isn’t a good look. If you’re just getting started, or you feel like your page hasn’t gotten a lot of love lately, make a plan to increase the amount of likes and followers you have. As tempting as it may seem, don’t fall for the trap of buying followers—fake followers are a waste of money that don’t bring in actual leads, and can actually spam your page and bring it down in the LinkedIn algorithm. Paying for followers is never worth the cost. Instead, brainstorm some authentic ways to increase your audience. You can start by simply inviting clients and connections to like your page, and follow it up with an effective content marketing strategy. Make sure your LinkedIn link is on any of your promotional materials as well. Real growth takes time, so don’t obsess over vanity metrics and instead focus on cultivating an online-community feel.
Allow for Applications via LinkedIn
LinkedIn isn’t just for letting people know about your company—you can actually incorporate your applications directly into the platform, making it easier for people to apply for your open positions. If you haven’t started using this feature of the social media platform, start doing so and see your application rate skyrocket. Many people will appreciate the streamlined process applying in-platform provides and can search for jobs with their specific skillsets offered.
In the midst of an uncertain labor market, employers and hiring managers should not lose sight of the time-tested strategies for attracting and retaining talent.
This article was first published on August 16, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders.
The last few years have seen tremendous upheaval in the labor market, spurred in large part by the COVID-19 pandemic and the resulting workplace restrictions. Millions of Americans left their jobs or even left the workforce entirely, a phenomenon commonly referred to as the Great Resignation. As a result, the power dynamic in the labor market shifted noticeably from employer to employee, as evidenced by viral trends like “Quiet Quitting” and “Bare Minimum Mondays.”
Within this environment, employers struggled to find qualified talent and, in some cases, struggled to find any talent at all. Employees felt empowered to demand greater pay and benefits and more flexible work arrangements, particularly remote or hybrid work.
Is the Great Resignation Over?
This trend hasn’t existed in a vacuum, however, as policymakers and businesses have aggressively sought to address the underlying public health and regulatory causes of the Great Resignation. Aggressive interest rate hikes and the easing and ultimate elimination of COVID-19 restrictions at the local, state, and federal levels, combined with broader economic uncertainty, have changed the calculus for both employer and employee.
Some observers believe the Great Resignation itself may finally be over.
“As the dust begins to settle on the Covid-fueled economic tumult of the last few years, one pandemic-era trend appears to be on its way out: The Great Resignation,” says Samantha Delouya in an article for CNN.
“Now, experts say the phenomenon is finished. Ten straight interest rate hikes by the Federal Reserve, slowing wage growth, stubborn inflation and mass layoffs in some industries may be causing Americans to stay put,” says Delouya.
Delouya points to data from the U.S. Bureau of Labor Statistics to bolster her argument: “The number of people quitting their jobs fell by 49,000 in April compared to March, according to the most recent numbers available from the Job Openings and Labor Turnover Survey.”
A Complex Issue
As an initial matter, it’s important to note the extremely complex nature of the American and global labor markets and the Great Resignation in particular. The U.S. economy alone is made up of myriad jobs spread over dozens of distinct industries. While some sectors, like retail and hospitality have been hit very hard, other industries have seen less impact. In still other industries, new technologies like artificial intelligence and other forms of automation have arguably already begun to reduce the demand for certain types of labor.
“While some sources may suggest that The Great Resignation is over and employers can ease their worries about finding and retaining top talent, the reality is more complex,” says Chandni Chopra, Director of Human Resources at LambdaTest. While many organizations continue to face challenges in attracting and retaining the talent they need, the situation “on the ground,” says Chopra, varies across industries and roles.
“Certain industries or roles may indeed be more difficult to attract and retain talent due to various factors,” Chopra says. “For example, industries experiencing rapid technological advancements or high demand may struggle to find skilled professionals with specialized knowledge. Additionally, roles that require unique expertise, such as data science or cybersecurity, often face talent shortages.”
“Resignations may have slowed compared to 2022, but the war on top talent is far from over,” says Kara Ayers, Head of Global Talent Acquisition at Xplor Technologies. “At Xplor Technologies we find it difficult to attract and retain top talent for niche and highly specialized positions—including financial planning and analysis, marketing, and technology roles—due to competitiveness in the market.”
Ayers says it’s not just companies like Xplor that are continuing to face challenges. “Niche and highly specialized roles, like those in technology, marketing and financial planning and analysis have always been difficult to attract,” she says. “But many vertical industries are also struggling with labor issues including dry cleaning, lawncare, hospitality and childcare amid rising interest rates and recession risks.”
Big Companies Have an Edge
The vast majority of employers responding to our request for comment on the potential end of the Great Resignation told us that they are not seeing a meaningful change on the ground. However, others suggest that the situation may, in fact, be improving for large employers at least.
“Major corporations are not experiencing this struggle and are firmly back in the driver’s seat,” argues Jose Laurel, VP of RPO at G&A Partners. “In today’s job market they are more comfortable pushing talent away, being more selective or not needing to hire at all. For small and midsized businesses, the battle for top talent is a reality because they must compete for the same candidates,” he says.
Candidates, says Laurel, “are seeking growth, career pathing, higher salaries, and learning opportunities. SME’s (small to mid-market enterprises) must be creative when seeking talent and be willing to change.”
Evergreen Strategies for Finding and Retaining Talent
In the midst of an uncertain labor market, employers and hiring managers should not lose sight of the time-tested strategies for attracting and retaining talent. While different labor market conditions and industry-specific factors might demand more fine-tuned strategies, some general best practices are truly evergreen.
“To find the right balance in talent acquisition and retention efforts, employers need to consider several factors,” says Chopra. First, she says, they should invest in a strong employer brand and company culture that resonates with potential candidates. “Providing competitive compensation and benefits packages, along with opportunities for growth and development, can also attract and retain top talent,” she says.
In addition, Chopra notes, it’s important for organizations to understand the specific needs and expectations of different employee segments, such as millennials, Gen Z, or older workers, to help inform targeted retention strategies. Those strategies, she says, might include offering flexible work arrangements, promoting work-life balance, and fostering a supportive and inclusive environment.
It’s also important for employers to continually assess their talent acquisition and retention strategies, adapting them to the evolving needs of the workforce and the market. “Regular feedback and communication with employees can provide insights into areas of improvement and help address any retention challenges,” Chopra says. “Ultimately, investing appropriately in talent acquisition and retention requires a comprehensive approach that aligns with the organization’s goals, values, and industry dynamics. It is an ongoing effort to attract, engage, and retain top talent in a competitive and ever-changing job market.” While some journalists and observers are heralding—or at least predicting—the end of the Great Resignation, employers we spoke with largely haven’t seen a meaningful change and are still finding it difficult to attract and retain talent, relative to pre-COVID years. In a challenging labor market, sticking to some core best practices for recruitment and retention while also addressing dynamic conditions is the best bet for employers.
'The best HR people are not reactive—they are not just thinking about what is in front of them. They are thinking about 3 to 5 years from now and how best to position the business for the future based on what they are seeing.'
This article was first published on August 10, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders, and has been adapted for HealthLeaders.
Human resources (HR) leaders in healthcare can learn and take valuable information from HR leaders in other sectors. HR professionals continue to help shape the future of work and also help employees grow and develop in their roles. Our guest for today’s Faces column is no stranger to growth and development and isn’t afraid to roll up her sleeves and ensure everyone around her is able—and has the opportunity—to do the same.
Susan LaMonica
“The world is changing so rapidly, and it is an exciting time for HR professionals,” Susan LaMonica shared with HR Daily Advisor. “We are playing such a meaningful role in the lives of employees and in the performance of our business.”
Before segueing into HR, LaMonica began her career with Chase Manhattan Bank, holding several leadership roles in retail banking, operations, and risk. She would go on to spend an impressive 23-year tenure at JP Morgan Chase, serving in myriad senior leadership roles, including head of HR for the consumer and commercial banking business, head of HR for the investment banking and markets business globally, and global head of development for JP Morgan. During this time, she was also instrumental in a number of bank mergers.
LaMonica has spent the past 12 years as the Chief Human Resources Officer at Citizens Bank. In her role, she leads a team responsible for leadership and talent development; talent acquisition; organizational development and culture; diversity, equity, and inclusion (DEI); and more.
Since she joined the U.S. super-regional bank in 2011, LaMonica has played a key role in the bank’s transformation, such as helping to adopt agile operating models and successfully rolling out initiatives and programs to help prepare the bank’s workforce for the future. She was also instrumental in the largest IPO in U.S. history—Citizens successful separation from the Royal Bank of Scotland—and has since helped facilitate several acquisitions as part of Citizens’ growth strategy. Additionally, she is a member of Citizen’s executive committee, Women’s Impact Network; a founding member and executive sponsor of Citizens Business Resource Group (BRG); and the executive sponsor for the Caring for Citizens BRG.
In our latest Faces, meet Susan LaMonica.
How did you get your start in the field?
I spent most of my career at JPMorgan Chase—23 years, to be exact. I started in a management development program in operations and technology and spent the first 7 years of my career in a variety of operations and risk roles, which required me to travel extensively to Europe and Asia. I then was asked to run a branch in midtown Manhattan. At the time, being a branch manager did not feel like the best fit for me, but when I reflect on my career, it turned out to be one of the best learning experiences I have had. It solidified my deep appreciation for what it takes to work on the front line with our customers, flexing across so many dimensions on a given day. But I remained open to other opportunities that would leverage my passion for leading teams and give me a platform to make a broader impact, and it was at that time I was offered an opportunity in human resources.
Candidly, while I welcomed the opportunity to gain experience doing something new, I had no real “pull” toward the human resources function and was uncertain about making the move. And the rest, as they say, is history—it turned out to be an amazing step for me. So, it was not by design. I fell into it, and I realized quickly that this was a great opportunity for me to do what I like the most, which is to lead, to manage, and to be able to impact company culture in a meaningful way.
Who is/was your biggest influence in the industry?
John Farrell, the CHRO at JPMorgan Chase at the time, had a profound impact on my career and the leader that I became. He was a tireless advocate for all employees—in the HR function and across the company at large. He was comfortable taking unpopular stances with the senior-level team when he felt colleagues were not at the center of decisions. Quite simply, he was, first and foremost, a champion for employees. That employee-first affinity shaped how he showed up as a leader of the HR function, as you might imagine. He trusted and empowered the people on his team and provided them with great latitude and the necessary air cover to drive innovative and meaningful change. He created huge followership and was sought out by people at all levels in the company. His ability to navigate the organization and various stakeholders was exceptional, and he garnered the respect of his peers, other executives, and the board.
What is your best mistake, and what did you learn from it?
I appreciate this question but admittedly struggle with the reference to “mistake” because I do not view life that way. In life, there are choices we are presented with, and we make what we think are the right choices for us at the time. Even if it may not have been the best choice, we learn from all of them in different ways. I mean, I could say that moving into the branch manager role was a mistake, but it was far from that. It helped me to really understand what it was like for our colleagues who were customer-facing and how often they were islands unto themselves. I developed a deep appreciation for those roles and became highly attuned to the need to support our customer-facing colleagues with high-quality solutions and a real sense of urgency. So, while I thought it was a “mistake” at the time, it turned out to be one of the most critical learning experiences in my career.
What is your favorite part about working in the industry? What is your least favorite part, and how would you change it?
I believe that at the end of the day, no successful organization operates without three things: a strong culture, strong talent, and strong leadership. I often say that leadership is the uber-lever. In HR, we have the unique opportunity to have a material impact on those three levers in a meaningful way. I love what I have seen emerging in the industry: a deeper acknowledgment and recognition that nothing happens without the people. People must come first in order to unlock the business outcomes we are trying to achieve. The pandemic certainly highlighted the need to focus on the employee more acutely, and in HR, we are in the middle of it all, which I really enjoy.
That said, in certain segments of the industry, there is a wide variability in terms of where HR is on the continuum—from being side by side with business leaders and leading a very strategic agenda to being thought of as more transactional in nature. Thankfully, the role of HR in the banking industry is evolving to more of the former—we are playing a highly strategic role to enable the business agenda.
It sounds like, through your experience, you really care about people, and you want to help them feel safe and comfortable, which is important in the industry. Please elaborate here.
I learned early on how important it was to acknowledge, appreciate, and support colleagues not just professionally but also personally. Some of that came from my own personal experience as the caregiver for loved ones—both my parents and my husband, all of whom passed away from terminal illnesses. From the support and care I received from coworkers to resources and benefits to supportive leaders, they all helped me to navigate those difficult times, and that is something that I will never forget. The importance of seeing and caring for the whole employee is critical, and the pandemic brought this to life in a big way. Employers must play a role in helping people manage all the different dimensions of their lives, enabling them to bring their whole selves to work, which encompasses everything from how we lead and connect to the empathy and flexibility we provide to the benefits and tools we invest in and so on. What is important to me is striking that balance—being able to look at the talent equation from an organizational point of view but never losing sight of the importance of supporting employees professionally and personally.
How can HR most effectively demonstrate its value to the leadership team?
It starts with context. The most successful HR teams and professionals are people who understand the context—knowing what is going on in the market today, as well as the emerging trends, grasping the dynamics of the business, and understanding the internal factors impacting the business. This is becoming increasingly important as we see economic uncertainty and challenging labor market dynamics add complexity while disruption and innovation continue at a rapid pace. My advice is to continue to remain curious, seek out information and context, and stay connected to all the changes that may impact the business. That way, you can best position yourself to manage the implications to culture, talent, and leadership.
The best HR people are not reactive—they are not just thinking about what is in front of them. They are thinking about 3 to 5 years from now and how best to position the business for the future based on what they are seeing.
Where do you see the industry heading in 5 years? Or, are you seeing any current trends?
Generative artificial intelligence (AI) is certainly on everyone’s mind right now. It is a game-changer, and I don’t think we have seen anything like this since the Internet was introduced. The implications on talent and the capabilities that will be required are massive for all employees, not just technical talent. The way that jobs and organizations are structured is going to change quite significantly. There will be certain functions that will change dramatically, and there will be new functions that will emerge. The potential for rethinking the cost base for organizations as a result will be significant. It won’t be long before we will all have a digital copilot that will enhance how we work. The HR team needs to play a leadership role in helping to think through the myriad implications and ensure that there are robust plans to rethink roles and structures, as well as the acquisition and upskilling of talent.
There has also been in recent years a shifting expectation of talent and more of a focus on social issues. We must continue to further our efforts to drive a culture of belonging, where people can do their best work regardless of their background and feel valued, respected, and heard. The companies that will consistently succeed will be those that have embedded innovation into their DNA. Core to this is ensuring we harness the diverse perspectives and capabilities that exist in our company to drive more creativity and new thinking.
What are you most proud of?
I took 5 years off in between my time at JPMorgan Chase and joining Citizens. My very healthy mother suffered a debilitating stroke, which was devastating and a wake-up call for me personally as a mother of three children. This was a life-changing event for our family. It brought into focus the fragility of life and the need to be really deliberate in how we spend our time and to live more fully in the present. My mother never had a chance to do all the things she had planned for her retirement. I did not want that to happen to me—I wanted to find time to take a pause in my career and not wait until I was in my sixties to retire and then have my health suddenly give out. So, I found the right time to step back, and I took it, which was very risky. I knew it would not be long term, but I also knew it was something I needed to do to be present for my mother and my family. I am proud that I had the courage and the support to make that choice. It was one of the best decisions that I made for myself and for my family, and the time away widened my perspective when I did eventually return to work.
Do you have any advice for people entering the profession?
This advice applies broadly to most people entering the workforce and is not necessarily industry-specific. Now more than ever, it is so important to stay intellectually curious and remain current on what is emerging in the external landscape. This will ensure you have your finger on the pulse of the future and will position you to provide thoughtful insights to leaders as they reimagine the future and effectively navigate their businesses.
Investing in building cross-functional relationships with people in all areas and types of roles at your company, as well as externally, is also extremely valuable. Not only does this build your network of trusted partners who can help you deliver results, but it also provides you the benefit of diverse perspectives while helping you better understand different parts of the business/industry.
I would also encourage people to be open to learning and growing their careers in all different kinds of ways and not be limited by the belief that growth comes only by the next big job or promotion. Be open to new experiences and interactions that will build new skills and capabilities.
The proportion of 65+ workers in the United States is expected to grow from 25.8% in 2021 to 30.7% in 2031.
This article was first published on August 9, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders.
It’s no secret that advanced economies are seeing a frightening demographic shift. Fewer births and greater longevity have combined to create older populations with fewer young people caring for the elders. This hasn’t been seen at any point in recent memory for most nations, and many observers have referred to it as the “demographic time bomb.”
The demographic time bomb is a slow trend that may lead to potentially dramatic results.
The Impact of an Aging Population
While governments look at the demographic time bomb and see crises in the areas of pensions, social security, and health care, businesses are primarily concerned with the impacts of an aging population on the labor force.
According to data presented in the Future of HR report by McLean & Company, “an aging and multigenerational workforce is already a reality but is expected to be more pronounced. On a global scale, labor force participation rates among the traditional working age group (25 to 54) is projected to decrease, whereas the proportion of older workers is expected to see increased labor force representation.”
For example, the proportion of 25- to 54-year-olds in the global workforce is projected to drop from 70.0% in 2020 to 68.3% in 2030. Over the same period, the proportion of 55- to 65-year-olds is expected to grow from 11.9% to 13.3%, and the proportion of those aged 65 and above is expected to increase from 4.1% to 5.1%.
Employers: Prepare to Take Proactive Action
The numbers in North America (United States and Canada) are even more pronounced, and the proportion of older workers is already higher than the projected global 2030 proportion. The proportion of 65+ workers in the United States is expected to grow from 25.8% in 2021 to 30.7% in 2031 and from 27.5% to 32.4% in Canada over the same period.
While many governments are looking at ways to tackle the demographic time bomb, employers shouldn’t sit back and wait. Leveraging new technologies such as artificial intelligence (AI) and taking deliberate steps to improve recruitment and retention numbers are a couple of ways companies can fight to stay ahead of the demographic curve.
HR managers have not only an opportunity—but an obligation—to take steps to ensure that employees are heard and responded to on an ongoing basis within an environment of transparency and trust.
This article was first published on August 7, 2023, by HR Daily Advisor, a sibling publication to HealthLeaders.
Many, if not most, organizations have methods in place to gather input from employees—suggestion boxes, hotlines, focus groups, engagement surveys, etc. But are these organizations actually using this input strategically?
The High Cost of Poor Communication
Organizations can’t risk the high costs of disengaged employees. According to Gallup, disengaged employees have 37% higher absenteeism, 18% lower productivity and 15% lower profitability. Those impacts should illustrate why companies should work to actively seek the voice of the employee.
These are costs that are likely affecting the majority of US employers. Various studies have illustrated the links between employee engagement and a wide range of other business and employment metrics.
For example, engaged employees are 87 percent less likely to quit a job than disengaged workers; and disengaged employees are 18 percent less productive and 15 percent less profitable on average.
A big part of engagement is simply feeling valued and listened to, but unfortunately many companies don’t do a good job in this respect. According to data from the Workforce Institute, 83 percent of surveyed employees feel they aren’t heard “fairly or equally,” while 60 percent feel their opinions are just ignored entirely.
These are the kinds of perceptions that can lead to disgruntled employees whose frustrations can quickly skyrocket. In addition, today’s employees are increasingly very socially aware and expect their employers to be too. Knowing where they stand can be tough; effective listening can help.
Opening Channels and Really Listening
While many companies have incorporated some efforts or technologies to better listen to employees, few place as much emphasis on it as today’s employees demand of them.
It’s not enough to simply conduct annual engagement surveys. Employers need to have sources of ongoing input and feedback that can be continually monitored—and acted upon.
Continuous listening provides an “always on” feedback loop between employees, their managers, and senior leaders. Today’s business environment is in a constant state of flux, both internally and externally. Things don’t remain static for long, including employees’ sentiment about a wide range of issues.
Ongoing input channels provide organizations with in-the-moment insights into employee sentiment, helping to foster a culture of transparency and engagement. Without this type of real-time feedback, organizations miss the opportunity to really move the needle on engagement, and retention.
Creating a Climate of Trust
Of course, it takes more than making tools available for input to create an environment in which employees feel free, and comfortable, to share their thoughts and ideas—especially constructive input about things they feel could be improved. It takes trust.
One critical component for creating a climate of trust that will ensure open and honest feedback is demonstrating the willingness to listen, really listen, especially to negative input.
The top organizations aren’t afraid to tackle tough issues, inviting input from employees and other key stakeholders that can, at times, be brutal.
How can organizations create this type of climate and what role do HR professionals play in the process? Here are some important steps to take to create a culture that fosters trust, engagement and commitment.
Conduct a Communication Audit
An important first step can be conducting a communication audit. HR can help to evaluate the organization’s current communication practices and channels to determine what’s working, and what’s not.
What tools are used to get critical information to the workforce?
On what channels and at what time is the most engagement and interaction?
This should be an ongoing process, not just an annual event.
Having measurement tools in place is important to continually monitor the effectiveness of communications. Measurement tools can also help HR shape how they approach the employee experience and better understand the shifts in today’s workforce. Tools that can measure morale and employee sentiment, can give HR deeper insights into areas of improvement or how they can ensure greater alignment and support for all employees. In addition, this type of measurement can help organizations control the spread of misinformation. This is especially critical in an era of social media where the push of a button can impact organizational reputation for years.
Practice Transparency
Transparency leads to trust, something that many organizations today are sorely lacking. Transparent frequent communication can help. This might include such things as sharing regular updates or addressing tough issues over video each week.
As employees continue to voice their opinions, employers should evaluate how they disseminate information and strive to provide a single source of truth when addressing concerns.
Regardless of the level of trust and transparency in your organization, it’s a best practice to offer both direct and anonymous means for employees to provide feedback—positive or constructive. This can be done through “old-fashioned” physical suggestion boxes or more modern modes of input like online surveys and polls. Input can also be gathered via grassroots or town hall meetings, all-hands company meetings, manager 1:1 meetings, open-door policies or vendor-managed hotlines.
Take Action!
This, of course, is where the rubber meets the road. You’ve invited input and employees are speaking loud and clear—perhaps even in a very unified voice. But what are you doing about what you’ve heard?
Action must be taken based on inputs received, even if that action is nothing more than an acknowledgment of receiving the input and an explanation of why nothing may be able to be done at this point in time.
In many cases, changes can be made, or solutions implemented. Even when they can’t though, providing a response summary, including the input and “business why” will show employees that they have been heard.
Finally, make sure to close the loop. The number one way employers lose credibility with employees is failing to close the loop on inputs received.
