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    Entries in HR (485)

    Wednesday
    Sep052018

    One way legacy companies can change the recruiting and retention equation

    One challenge most older, 'legacy' companies can face when recruiting and attempting to retain their most desired people and keep them from flocking to the newer, more exciting, and often more lucrative startups in their industries is their very own legacies and brands.

    One could argue that 25 year old hotshot developers are not that interested in joining say an IBM, when they could jump on a new AI or blockchain startup. Or in finance, the allure of say a JP Morgan Chase might not hold all that much resonance when that same 25 year old has been immersed in crypto currency exchange technology for the last few years. Or in retailing, what would draw someone who has many options to a company like Walmart or Target, when modern, fast-moving, and tech-driven startups like Stitchfix seem to be much more exciting?

    Well, one 'legacy' company is trying a really clever strategy for to address this challenge - the legendary auto manufacturer GM is looking to improve its success in recruiting and retaining talent for its new self-driving unit named Cruise, by offering new employees equity directly in the Cruise unit, and not in legacy GM. From a recent piece in TechCrunch describing the plan:

    In what will be seen as a big recruiting and retention win for Cruise, employees will be offered equity in GM’s self-driving technology subsidiary rather than shares of GM. The securities offering was disclosed in a recent SEC filing for GM Cruise Holdings LLC.

    The equity structure gives all Cruise employees the chance to own actual shares of Cruise, not in GM. It’s a critical development for a company, even one flush with new capital like Cruise, that is working to deploy autonomous vehicles on a commercial scale.

    “The goal was primarily to create a new equity structure so that we could recruit and retain the best talent by giving them direct participation in potential upside in Cruise through owning actual shares in Cruise, which we didn’t have before,” Cruise CEO and co-founder Vogt told TechCrunch.

    So how does a company like GM better compete for in-demand talent, that may be drawn to their smaller, upstart competitors? By making it seem for the most part that this talent doesn't really work for GM, they work for a self-driving car startup called Cruise that just so happens to be subsidiary of GM. And this allows GM not only to get a lift from not being wed to 100+ years of GM history from a branding perspective, it allows loosens up the compensation purse strings for these Cruise employees, as large, legacy companies like GM have much more rigid and formal methods of allocating compensation - ones that their startup competition usually are not encumbered by.

    And if things work out for Cruise, the prospect for employees of really cashing in with a spinoff and an IPO add the carrot of potential future millions that 'legacy' GM would never be able to match. It's a clever way to combine the strengths of GM's legacy and history with some new ideas that shore up some of the weaknesses in that legacy.

    And yes, I am a GM owner. But I am still driving my own car. For now anyway.

    Have a great day!

    Friday
    Aug172018

    Expect Great Things

    The other day I caught an interview with Kevin Dann, the author of 'Expect Great Things: The Life and Search of Henry David Thoreau'. I don't know any more than the average person about Thoreau, I read Walden Pond I am pretty sure back in high school, but that is about it.

    But the interview with Dann, the most recent of Thoreau's many biographers really resonated for me, and mainly for the author's reasoning behind the book's title.

    Here's the section from the interview, courtesy of the Art of Manliness Podcast:

    Kevin Dann - And you’re pointing to my contextualizing Thoreau in this way. A big part of that was a signature I found right away was this sense, you know, I used it for the title of the book. “Expect great things”. So his mantra was, that he said in a hundred different ways, “In the long run, we find what we expect. We shall be fortunate then if we expect great things.” And whether it’s astrology, or reading tea leaves, the operative principle of magic is that what we think manifests in the world as being real, and that’s what his mantra was. “Expect great things”.

    I pretty much stopped really taking in the rest of the hour-long conversation after hearing that. The 'Expect Great Things' concept I just could not stop thinking about. Maybe because it is so different than what I am comfortable or used to doing. I might, on a good day, 'hope' for good things to happen, but I have to admit it is the more rare situation that I 'expect' great things. 

    And Thoreau's point, as far as I think I understand it, is that eventually we find what we expect to find. We find what we think or believe we are going to find. There is also at least a bit of mysticism in what Thoreau was talking about. We also, I came to learn, communicated with faeries out in the woods.

    But if Thoreau was right, and we do indeed, eventually, find what we expect to find, then it makes perfect sense to expect great things. Who would expect less?

    Ok, I am signing off for the week. I am going to try better to expect great things in work, at home, for my Liverpool FC team, and for the folks that I hold dear. I hope you will too.

    Have a great weekend!

    Monday
    Aug132018

    PODCAST: #HRHappyHour 333 - How AI in HR Will Enhance the Employee Experience

    HR Happy Hour 333 - How AI in HR Will Enhance the Employee Experience

    Sponsored by Virgin Pulse - www.virginpulse.com

    Hosts: Steve BoeseTrish McFarlane

    Guest: Jeanne Meister, Future Workplace

    Listen HERE

    This week on the HR Happy Hour Show, hosts Steve Boese and Trish McFarlane are joined by Jeanne Meister for a conversation on Artificial Intelligence in HR and how it will enhance the employee experience. Jeanne shared her insights on how AI will impact HR, how the skills and roles of HR will adapt and change over time and supported by AI technology, the connection between customer experience and employee experience, and gave HR leaders some advice about how to begin to introduce AI into their HR practices and programs.

    We also got an update on the Logic concert, Steve's acute 'uncoolness', a James Taylor update, and previewed some of the AI related content that will be showcased at the upcoming HR Technology Conference.

    You can listen to the show on the show page HERE, on your favorite podcast app, or by using the widget player below:

    This was a fun show, thanks Jeanne for joining us!

    Subscribe the HR Happy Hour Show on Apple Podcasts, Stitcher Radio, Google Podcasts or wherever you get your podcasts - just search for 'HR Happy Hour'.

    Friday
    Aug102018

    n = 1

    1. Beloved footwear brand Crocs is in a bit of trouble. Might want to stock up on some just in case. I did the same move when I learned that Twinkies were being discontinued a few years back.

    2. There was some really interesting coverage on what auto manufacturer GM is doing to try and better control employee healthcare costs and improve outcomes. It is clear that all of the traditional strategies they have been trying up until now have not moved the needle.

    3. One of the biggest stories in college sports was recently broke by a reporter that ESPN laid off earlier in the year. Tough to get 'scooped' by someone you decided was not essential to your business.

    4. From Academia - 'Compensation and Incentives in the Workplace' by Edward P. Lazear. "A sample of some of the most applicable papers are discussed with the goal of demonstrating that compensation, incentives, and productivity are inseparably linked."

    5. Still more from the market for truck drivers from Fortune. Between automation influences, labor force demographic changes, and increasing regulatory pressures, hiring truck drivers has never been harder.

    6. Infographic (are they still a thing?) 'Debunking 8 Myths about AI in the Workplace'

    7. The English Premier League season kicks off this weekend. If you need a team to support, I recommend Liverpool. This is our year for sure.

    8. Trish McFarlane and I did a great HR Happy Hour Show earlier this week with guest Erica Volini from Deloitte on the 2018 Deloitte Human Capital Trends Report. You can listen to the replay HERE or on your favorite podcast app.

    9. Speaking of the HR Happy Hour Show, our new version of the show for the Amazon Alexa platform just crossed the 50 episode mark. To listen to the show just add the HR Happy Hour Skill to your Echo device's Daily Flash Briefing.

    10. It's one month until the HR Technology Conference in Las Vegas. Check out the agenda and register here. Use my code STEVE300 for $300 off your HR Tech Conference pass.

    Have a great weekend!

    Wednesday
    Aug082018

    Culture, Experience, Dedication (and a little summer basketball)

    Warning - This post seems to be about basketball. It is not entirely about basketball. Maybe 87%.

    Basketball is largely a year-round sport these days, but during the period from the end of the NBA's official Summer League in Las Vegas, (absolutely the most fun trip I make every year), and the beginning of training camp for the new season, usually there is not much happening in the sport. For hoops junkies like me, the eight or ten weeks or so with no real basketball to watch can be a little bit of a bummer.

    But four years or so some enterprising entrepreneurs decided to try to fill that hole in the basketball calendar with a new concept - a $1M dollar, (since increased to $2M) winner-take-all single elimination tournament called, simply, The Basketball Tournament (TBT)  The teams that comprise the field in TBT are made up of some combination of former college players not good enough for the NBA, professionals playing in one of the numerous pro leagues in Europe, Asia, the the Middle East, and a smattering of retired players looking for one more run with some good competition, (and a chance to grab a share of $2M).

    TBT has kind of caught on among hard-core basketball fans, and for a couple of weeks in July, (supported by coverage on the ESPN networks), TBT becomes almost the most interesting story in the basketball world. Assuming, of course, we are not waiting for LeBron to pick a new team.

    But the real story of the four years of TBT has been the story of the team named Overseas Elite, the still undefeated and now four-time winner of TBT, and winners (remember this is a winner-take-all event), of $7M over their run, a prize shared by players and coaches. Overseas Elite, a team made up of players who have almost no NBA experience at all, most of whom were not even decent NBA prospects, and who now play professionally in places like Dubai and Morocco, has delivered a stunning 25-game win streak, (again, this is a single elimination competition), across four tournaments, while defeating many teams that on paper, had much more talent than they possess.

    Here's the part of the post where we shift from a sports story to an HR/Talent story.

    So to what can we attribute Overseas Elite's string of remarkable success?

    Three things that have resonated with Overseas Elite and can be applied to building teams in just about any endeavor?

    Culture- When Overseas Elite, then the 3-time TBT champion, had to fill two open roster slots for the 2018 tournament, they didn't just seek out the best of most talented players they could find. “We don’t pick just any guys,” team leader DJ Kennedy said. “We pick guys who fit our team as far as high character and not being selfish and guys who can really mesh together.” 

    Experience - With most of the roster consisting of relatively older players with years of experience at the pro level from playing around the world, Overseas Elite always played with poise, didn't panic when things were going against them in a game, and over four years and 25 wins under pressure, have found ways to win every time. Knowing what to do in almost any situation only comes from hard-earned experience, and often this experience can make the difference against a more talented team. Our lesson? Don't underestimate or undervalue experience on your own teams in your organizations. Having been there before is a kind of skill you just can't teach.

    Dedication- Amazingly, in the world of TBT and professional basketball, six of Overseas Elite's 10-man roster have been with the team for all four tournaments and have won four championships. Sure, these six guys have stuck with the team because of all the success, (and prize money), but have the success and prize money been a by product of the core of the team remaining intact over the four year run? Probably some of both I guess. While it is hard to know for sure what the real value of this kind of 'core team' consistency is, it has to have at least some value. If you trust the process on the recruiting and hiring side, and you have a decent strategic plan, then letting the team stay together to figure things out can lead to more sustained success over time.

    Ok, so this post was mostly about basketball. Apologies. But I love the story. I hope that Overseas Elite can keep it going next summer. I for sure will be watching.

    Have a great day!