Jamie Dimon View of the Economy
On April 23, I attended the Economic Club of NY and listened to JPMorgan Chase CEO, #JamieDimon discuss economic issues in the U.S. economy for 2024. He was interviewed by #MarieJoseeKravis, chair emerita of the #EconomicClubofNew York. Here is a short summary of his remarks.
In his comments he was bullish on a “robust” U.S. economy and mentioned the low unemployment and positive consumer financial environment, housing prices for owners, However, he pointed out the problems with increasing U.S. debt and concerns that inflation might endure longer than expected keeping interest rates higher. He mentioned concern over government spending. He pointed out threats to commodities markets and movement of people due to the continued conflicts in the Middle East and Ukraine.
Dimon observed, the U.S. government would benefit from more “practitioners.” He said he’d like to see the next president populate the cabinet with members of the other party. He promoted putting people with practical, business experience at the table, hopefully reducing political polarization. “I want the next president, whoever it is, to put the other party (members) in their cabinet. That is what I would like to see. I would like to see practitioners go back to the government.” He said he was “very excited” about the future.
His remarks and conversation were very well received. Personal ancedotes from my table mates who know him were very favorable. He is much admired.
For a more detailed commentary on the economic future read his annual report to JPMorgan shareholders:
https://reports.jpmorganchase.com/investor-relations/2023/ar-ceo-letters.htm
NYIT Faculty Scholars Luncheon
Creating Positive Corporate Culture to Reduce Workplace Bullying
Laura Persky, Ken Pinnock and I are very pleased to announce our research “Creating Positive Corporate Culture to Reduce Workplace Bullying” has been recognized at the 2024 NYIT Faculty Scholars Awards Program.
This research highlights the problem of workplace bullying and provides suggestions for organizational processes that might prevent it from occurring. The study explains why workplace bullying exists and how certain organizational structures, cultures, or leadership styles can contribute to and reinforce negative behavior. This study includes both qualitative primary and secondary research sources. It provides recommendations for creating a positive work environment by applying organizational virtuousness practices that may inhibit or mitigate negative behaviors. The findings offer diagnostic suggestions and proactive structural efforts that can help minimize the opportunity for bullying.
The paper is available in the Global Journal of Business Research, Vol. 17, No. 1, 2023, pp. 43-53. https://bbd501.p3cdn1.secureserver.net/wp-content/uploads/2024/01/GJBR-V17N1-2023-4.pdf
For a diagnostic review of bullying in your organization contact walsh@birchtreeglobal.com.
Managing Global Workforce Risks
“Managing Global Workforce Risks”
If you are concerned about managing global risk and want to make sure you haven’t overlooked a significant issue, then you won’t want to join this live webinar, “Managing Global Workforce Risks.” Join the @BPHR and @Birchtree Global teams at 12:00 PM EDT on March 6.
This presentation details the three major categories of risk: Personnel, Security, and Information and describes what business and HR leaders can do to minimize negative risk outcomes.
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_xEDTjya3RF-Bp-MCYkbrnQ
This webinar is eligible for recertification credits.
Important Comments from Prime Minister of Japan Fumio Kishida Meeting 9/21/2023
I was honored to attend the Economic Club of New York’s lunch with Prime Minister of Japan Fumio Kishida. His comments had important implications for the business community. They included:
A description of the Japanese economic revival with an annual growth rate of 11.4%
Japan is open for business and governmental support and reforms will facilitate investment
Domestic investment at record levels, high stock prices, and reforming the asset management sector
Eliminating barriers to entry, labor market reforms, priority help for child care and women in the workforce
A focus on the development of cutting-edge technology in AI
A focus on the defense of national borders and climate change
For more information see the link to his speech below:
Aashna Sinha speaks to Columbia University Human Capital Management Students
The nice thing about teaching at Columbia University is getting to listen to dynamic speakers like CHRO Aashna Sinha. Aashna spoke to my class on leading a multicultural workforce with her observations on working with companies like Richemont, Mercer, Deloitte and Coty. Her experiences and observations on linking HR activities to the financial performance of the corporation resulted in 60 minutes of non-stop questions from the class. If you are looking for top and bottom-line focused business and HR professionals let me know and I’ll put you in touch with some of the best students at Columbia University, and some of the best HR leaders like Aashna!
#birchtreeglobal #birchtreeperformancehr #globalhr #humancapitalmanagement #hrci #shrm
Valerie Morel Speaks to Dr. Janet L. Walsh Class on Global HR Leadership
Thank you, Valérie Morel for an amazing presentation to my Columbia University Human Capital Management students. The course is Leading Cross-Cultural Global Organizations and focuses on global human resources management around the world. Valerie is a subject matter expert and leader in global human resources with senior leadership experiences in Bayer, Pfizer, Charles River Lab, Prudential Financial and Capgemini.
She gave a compelling presentation on the link between training and performance management and corporate financial and operational performance. She did a fantastic job of integrating the class’s broad and diverse HR experience internationally. The class discussed how financial performance in the organization is increased by linking HR strategy directly to corporate strategy and customer satisfaction.
Thank you Valerie!
#birchtreeglobal #globalhumanresources #valeriemorel #janetlwalsh #harvardbusinessreview #columbiauniversity #bucknell #SHRM #HRCI
Columbia University Class Welcomes Blair Bennett
Columbia Class Welcomes Blair Bennett
Blair Bennett, Senior Vice President Global Talent Acquisition at PepsiCo was the featured guest speaker at Dr. Janet Walsh’s Leading Cross Cultural Global Organizations class at Columbia University. Blair spoke about the differences in talent acquisition around the world and how individuals are sourced, hired, integrated, and promoted in Pepsi. What was fascinating was the discussions around how an organization like Pepsi with different divisions like beverages and snack foods, adapts to different countries. That business strategy is integrated into the staffing strategy and decisions made in human resources infrastructure. The students, all professional business people, were excited and impressed with the chance to learn first-hand from a remarkable executive. Thank you, Blair!
Giovanni Giordano Speaks at Columbia
Thank you, Giovanni, for speaking to my masters class in HR at Columbia University. To kick off the class in managing the multicultural workforce, Giovanni used his global experience leading complex HR strategy and operations at British American Tobacco, Ferrero, Proctor and Gamble to highlight the challenges designing the integration of HR and corporate strategy. The students are early career HR leaders who welcomed the insight and advice. I know Giovanni has helped accelerate their careers!
Giovanni is currently the CEO of Blue Pragma, a Human Capital advisory business (https://www.linkedin.com/company/bluepragma/). Its mission is to help public and private companies develop the leadership and organization effectiveness they need to transform and accelerate growth.
#giovannigiordano #bluepragma #birchtreeglobal #columbiauniversity #globalhr #SHRM #HRCI
The new ISO Guideline 30414 contains key organizational metrics that help executive leadership identify the costs, benefits, and outcomes from HR operations. If you are a portfolio manager or HR leader, you can show your financial executives just how important good HR management practices are to increasing the EBITDA value of your businesses. For example:
• Assume the company has: 250 employees
• Employee annual turnover: 16% (national average)
• TOTAL cost of replacing an employee is: 0.75x annual wages
• Annual wage is: $77,500 (national average, source: MarketWatch)
Let’s assume that BPHR does an audit of your HR practices and makes recommended changes leading to a modest reduction in employee turnover to 10%.
The annual savings for not replacing the 15 employees would be:
15 employees x 0.75 x. $77,500 = $872,000 added to EBITDA
The equity value would then be:
$872,000 x 7 = $6.1M, or an additional 11% in equity value.
This is just the beginning. BPHR focuses on increasing financial performance through Human Resources operations. Our team of financial and HR executives will answer your questions and help you uncover more ways to increase EBITDA.
See more of what we do at
https://lnkd.in/erQgDkBM.
Contact us at walsh@birchtreeglobal.com for a discussion of the possibilities.
Thank you, James Calver, for the insights!