Today, leadership is about influencing behavioral change. Successful managers and executives embrace their leadership positions, which can make them intimidating to their employees. The great piece of advice Jeff Smith, BlackRock’s former head of global human resources, shares is to recognize that “10 out of 10 people are people.”
In other words, they’re just like you and me. “This helped me at a young age to not treat senior people with fear or worry. Try to be yourself,” he explains. “We are all just trying to live our lives and do our best.”
As we near the end of 2023, it’s apparent that leaders need to be human experts and experts in business strategy and execution. In a Forbes post, Justin Hale of Crucial Learning, the corporate online and in-person training platform, stated, “Leaders need to become experts in why people do what they do if they want to help their people act differently. Leaders don’t influence outcomes; they influence humans to act in ways that drive better outcomes. Behavior change is the job of a leader.”
Good Leaders Attract Top Talent
Leaders and managers need to spend individual time with their employees. Jeff Smith says, “These meetings are critical to providing a forum for people to express their views and to feel [like they are] a part of the organization. If someone does not have 30 minutes per week for one of their employees, they probably should not be leading them.”
Creating and communicating a meaningful purpose beyond just making money is one of the best things a company can do to attract top talent. “Culture is everything,” Smith stresses. “it is what you stand for, how you do work, what you are held accountable for, and how it feels to be somewhere [because] companies are not the same. [Corporate culture is] one of the big differentiators. So, even if you don’t try, you will have a culture, so you might as well work hard to foster, nurture, and create the culture you want.”
To be clear, paying well is essential, but so is showcasing a successful business. “There is nothing like a company’s success to attract top talent,” notes Smith.
Developing and implementing modern technologies and approaches to human resources management should not be the be-all and end-all, nor should innovation be the goal in and of itself of any HR function. By contrast, Smith suggests that “getting the basics right and executing them is far more important before you are spending time innovating.”
If attracting top talent is the objective, there are a few key steps to better the chances of success. “Pay people right and have great hiring practices,” says Jeff Smith, HR professional. It’s also crucial to develop the company’s leaders and foster a culture of feedback.
“Ensure leaders know their expectations and have good solid processes, then innovate on top of that where it is important to the business and where it is going to work because there is a foundation to innovate on top of,” he adds.
A Few of Former HR at BlackRock Jeff Smith’s Professional Accomplishments
Smith studied psychology at the University of Connecticut, where one of his mentors, a professor and industrial-organizational psychologist, inspired him to pursue that field. I/O psychology focuses on crucial aspects of human life, specifically work lives, for greater insight to better the health, well-being, and effectiveness of organizations and individuals.
After earning a Bachelor of Science degree in psychology, Smith attended graduate school at Virginia Polytechnic Institute, where he had to decide whether to go into research or applied work, such as consulting and human resources. It wasn’t a difficult decision.
Smith says, “I had always imagined being in the corporate world even though I did not really know what that was all about, partially because I had a bunch of role models with corporate jobs growing up and partially because it seemed to offer more opportunities than research and teaching although I respect that a great deal.”
Smith continues, “I think being ‘psychologically minded’ is very helpful in terms of thinking through the dynamics of teams. And not just focusing on the business issue at hand but [also] on the people who are dealing with the issue. I/O psychology also focuses on leadership theories and theories of motivation, which is very applicable to the business world. ”
He finds it especially helpful when building strong relationships and teams. “One of my favorite things about working in companies is the teams and people you get to work with,” says Smith.
Smith’s most outstanding business achievements include growing an HR department from a small group focused on process and compensation to a global, highly impactful group. He says “HR should be involved in all aspects of talent and at every table involved in a high percentage of talent decisions.”
Guiding the establishment of BlackRock’s Human Capital Committee, over a decade ago,is another of Smith’s unique and impactful accomplishments. “The point was to make the talent agenda leader-led and have respected leaders from every single business,” says Smith. “And to help shape, drive, influence, and promote all talent practices across the company.”
Smith is well respected for his foresight and expertise in hiring the best in terms of HR professionals and being a magnet for talent in the industry. He’s committed to getting talent to the front and center of the agenda of the CEO and the leadership team.
“I have been very fortunate to have mentors and strong leaders in every job I have had,” he says. His mentors have crossed gender and races. “I have not had a single type of mentor in terms of style or background, which I think has been critical,” he explains.
He’s also committed to giving back to the next generation of human resources leaders. “I have a lot of people I informally mentor, many of whom used to work with me at one place or another and are heads of HR or have senior jobs in many industries,” he says. “it is fun to help them and see them succeed.”
