October 27, 2022
Image: Don Farrall/Stone/Getty Images
Welcome back to our Workplace newsletter. Today, we take another look at why it’s so hard to recruit talented senior HR leaders right now. Plus, we hear from the CEO of Sollis Health about what lured him away from Peloton after six years.
— Allison Levitsky, reporter (email | twitter)
On Tuesday, we spoke with HR leaders and headhunters about companies scrambling to find qualified chief people officers. The pressures of the last two-and-a-half years — from public health concerns to building remote teams, from rapid hiring to conducting layoffs — have largely fallen on the shoulders of CHROs, driving some to retire, take career breaks, or switch gears to roles in consulting, VC, or private equity.
But that’s not the whole story. Some people leaders who have left in-house CHRO roles and gone into consulting or private equity say burnout didn’t drive them to change gears.
In other cases, HR execs are simply hunkering down at their companies and ignoring calls from recruiters. Kathy Zwickert, who retired from her role as chief people officer at NetSuite in 2017, has noticed this as a board member at tax software company Avalara, which struggled to find an experienced CHRO who was willing to move to Seattle.
At the same time, the pipeline of strategic, business-oriented HR talent is weak, some people leaders told me. Part of the reason for that is the move away from “academy companies” known for training up HR talent, such as GE, Sun Microsystems, Cisco, Yahoo, Intel, and HP.
Some HR leaders are still putting emphasis on training the next generation. At HP, Keogh touted the fact that more than 40 of her employees had gone on to lead HR organizations at other companies.
Brad Olson’s six years as an exec at Peloton were “formative in [his] career, fast-paced and exciting,” he said. But a call from a recruiter seeking a CEO for Sollis Health left an impression, partly because Sollis lives with multiple sclerosis and spends “more time than most in doctors’ offices.”
Protocol news writer Nat Rubio-Licht sat down with Olson to hear about how he decided to leave Peloton to become a first-time CEO for Sollis Health, along with the biggest lesson he learned at Peloton.
Low pay is the top reason employees decide to quit, followed by a lack of opportunities for advancement. Learn how an effective compensation plan can help combat these two major reasons.
Here’s one possible reason your Slacks are going unanswered: 42.7% of workers say they take naps during the workday, according to a new survey from Sleep Foundation.
Anyone else having a bad case of Great Resignation whiplash? It’s hard to keep up with which tech companies are growing, shrinking, floating, or sinking. We’re here to help.
⬆️ Elon Musk told Twitter employees that he’s not going to cut 75% of the company’s workforce, Bloomberg reported.
⬇️ Zillow laid off around 300 employees, but told TechCrunch that it continues to hire in “key technology-related roles.”
⬇️ The NLRB put out a complaint against Amazon CEO Andy Jassy over his comment that Amazon employees would be “better off” without a union, Vice reported.
⬇️ Fitness and wellness app maker Mindbody cut staff, according to several reports.
For more news on hiring, firing, and rewiring, see our tech company tracker.
Flexible work and resignations are at historic highs and employees are questioning if their compensation matches their worth. What are business and HR leaders supposed to do about this? BambooHR surveyed full-time, salaried employees and discovered the top 2022 trends surrounding compensation and what employees really want.
A roundup of workplace news from the farthest corners of the internet.
IT outsourcing companies in India are cracking down on moonlighting in order to protect corporate secrets. (FT)
Is your company ready for climate risks? (Harvard Business Review)
So-called long social distancing has kept an estimated 3 million people out of the workforce, costing the U.S. economy $250 billion in the first half of the year. (Bloomberg)
Winter is coming for Big Tech, and young tech workers should be prepared. (Insider)
Thoughts, questions, tips? Send them to email@example.com.