Jeff Smith, former BlackRock Global Head of Human Resources, has identified five critical priorities for HR professionals in 2024. With over a decade of experience leading HR at one of the world’s largest investment management firms, Smith’s insights offer valuable guidance for navigating the evolving workplace landscape.
At the top of Smith’s list is leader and manager development, including succession planning. “Leaders need to drive change and help drive strategy and create culture,” the former BlackRock executive explains. He emphasizes that this priority extends beyond skill development to designing appropriate leadership roles and creating the right incentives—both compensation and recognition—to motivate high performers to take on leadership responsibilities.
The second priority Jeff Smith identifies is HR technology and data analytics. “It is critical to have exceptional technology to make processes better and more efficient, for culture and risk management, and to help provide data and insight to make decisions,” Smith notes. He advises HR leaders to carefully evaluate new technologies rather than defaulting to established players, ensuring they make strategic choices that keep pace with rapid technological change.
Creating an intentional culture ranks third on Smith’s list. This challenge, he acknowledges, has become more complex in hybrid work environments with fewer in-person interactions. “To do this the desired culture has to be clear; employees have to believe in and care about it and in the end, both demonstrate behaviors consistent with the culture and feel like they belong in the culture,” the former BlackRock HR head explains. He recommends designing all HR processes—from communication to training to promotion criteria—with the desired cultural impact in mind.
Jeff Smith’s fourth priority revolves around career management, which he sees evolving toward more flexible structures. “I think the theme evolving here is the phasing out of traditional linear career paths, static job descriptions and inflexible structures….and moving toward more flexible and iterative career journeys that allow people to use their skills and build,” he observes. This approach requires ongoing experimentation and adaptation.
Finally, the former BlackRock executive emphasizes the importance of building a strong HR talent pool. “The job of HR is hard enough, one of the hardest, and without great talent it has no chance of success,” he states. He urges HR leaders not to neglect their own teams while focusing on serving the broader organization.
With his industrial-organizational psychology background and extensive corporate experience, Jeff Smith brings a unique perspective to addressing these HR challenges. His recommendations reflect both evidence-based practices and practical business realities developed during his time leading human resources at BlackRock.
