Our January '24 Newsletter: Chock Full of Talent News

By Linda Brenner | January 16, 2024

Talent Insights for the New Work Reality

The best talent-related articles curated by your friends at TGA

Quote of the Month:
"Our industry does not respect tradition - it only respects innovation."
– Satya Nadella, CEO of Microsoft

Let’s Modernize Talent Acquisition Before Jumping on the AI Train
HR and Talent Acquisition teams often lack the necessary foundation to make AI truly effective because of undefined processes, ambiguous roles and unclear goals. So before delving into AI-driven solutions, TA needs to build its foundation: clear strategies, well-defined and differentiated processes, supporting org design and data-based measures of success. Only then it can be determined where AI can add the most value.

How a 40-ounce cup turned Stanley into a $750 million a year business
How did a $70M company grow 10x during COVID? The catalyst was the Stanley Quencher, a 40-ounce insulated cup that gained popularity, especially among women. Under the leadership of President Terence Reilly, the Quencher's appeal was amplified through influencer partnerships, limited-edition drops, and collaborations, turning it into a social media sensation and driving substantial growth for Stanley as a whole. This is a great story and a marketing best practice for '24.

The Freelance Economy and Your Talent Strategy: An HBR Podcast
This podcast explores the need to evolve talent strategies in the face of digital transformation. The rise of micro-entrepreneurs (60 million creators on social media making a living from their work) and the shortage of tech talent will force organizations to adapt to a more flexible hiring and engagement approach. The discussion highlights the efficiency of freelancers, who dedicate more time to learning and leverage generative AI to augment their work, shaping a new era in the digital transformation of the talent industry.

From MIT: How to Hire and Retain the Best Finance Talent
Finance leaders: it's time to shift from an audit-focused mindset to a strategy-based mindset, according to this article. As financial roles become more strategic and technical, leaders must foster a mindset shift from being enforcers to enablers (and not that kind of enabler). As financial roles become more strategic and technical, leaders are encouraged to source and select a blend of both traditional and contemporary skills in people who can interpret the impact of investments on business outcomes.

Good News and Bad News: More Women Are Negotiating for Higher Pay
Turns out it's an outdated myth that women don't negotiate for higher pay. The study highlighted in this article shows that professional women now report negotiating their salaries more often than men. But jokes on them, maybe, because the research by Berkeley Haas Professor Laura Kray shows that women's efforts to negotiate are being turned down more frequently, contributing to the persistence of the gender pay gap. The study emphasizes the need to move away from blaming women for not negotiating and highlights the importance of addressing systemic issues to achieve pay equity.

The Problem with Unconscious Bias Training
One of our brilliant team members is deeply experienced in and passionate about diversity, equity and inclusion. This article by Ciarra Jones discusses the limitations and potential harm of unconscious bias training in fostering diversity, equity, and inclusion in the workplace. For many reasons that she details, there needs to be a far more comprehensive approach to driving true DE&I change in organizations.

Paying More to Get More: Chipotle's Approach to Hiring 19k Workers
Who knew that spring was burrito season? Apparently Chipotle. To get ready, they plan to hire 19,000 workers to keep up. To accomplish this hiring goal? On top of the $15-$20 per hourly wage they instituted last year, they will match up to 4% of an employee’s salary through 401(k) contributions if they make student loan payments, offer free mental-health counseling sessions, provide workers access to a special credit card, etc. Will these perks work? Time will tell . . . but at least they're being innovative.