Former BlackRock HR head Jeff Smith believes many HR leaders make a critical mistake: focusing so much on serving the organization that they neglect developing their own department. “Don’t forget your own organization,” Smith cautions, explaining that HR leaders often get “immersed in the needs of the board and the CEO and the businesses and not focus as much on their own organization—which is the key to getting it all done.”
During his tenure at BlackRock, Smith transformed the HR function from what he describes as “a small mostly administrative group that focused on process and compensation” into “a large, global highly impactful group that was involved in all aspects of talent and at every table involved in all talent decisions.” This evolution didn’t happen by accident but through deliberate talent development within HR itself.
Smith identifies several characteristics of excellent HR executives, including understanding the business, maintaining curiosity about talent, having the courage to make difficult decisions, and providing trustworthy counsel to different stakeholders. Perhaps most importantly, he emphasizes “standing up for the importance of HR…believing in its importance and demonstrating it.”
One of Smith’s notable innovations at BlackRock was creating the Human Capital Committee, which he describes as “a truly unique and impactful accomplishment.” The committee’s purpose was to make the talent agenda leader-led, involving respected leaders from every business unit in shaping talent practices across the company.
“The HR talent pool has not been the deepest in the past,” Smith acknowledges, “so you need to focus on hiring the best of the best and ideally, making HR a destination for great people in the business.” For more insights on building strong HR organizations, Smith’s approach provides valuable guidance.
With his background in psychology and organizational development, Smith brings a uniquely qualified perspective to human resources leadership that continues to influence best practices in the field.