Navigating Economic Tides: How HR Can Promote Resilience Across A Business

The ChapmanCG team held an HR Leaders Live Forum in Paris hosted by Manuela Montagnana, Chief People Officer at Criteo. The focus of the discussion revolved around Navigating Economic Tides and how HR can promote resilience across a business.

In the ever-evolving landscape of the digital economy, companies like Criteo, stand out not just for their market presence but also for their strategic adaptations amidst global shifts. As a smaller player compared to industry giants like Google and Microsoft, Criteo has carved a niche for itself as the first French unicorn, publicly traded on NASDAQ, with headquarters in Paris, they foster a robust global footprint spanning Europe, the Americas, and APAC.

Adapting to Disruptive Forces

The digital advertising industry has seen significant upheavals, catalysed by privacy restrictions ushering in what some call the "Cookie Apocalypse” or “ThirdPartyCookieDepreciation”. These shifts have revolutionised digital advertising strategies, prompting companies to innovate how they target consumers based on behaviours and profiles. Concurrently, the COVID-19 pandemic accelerated online shopping and digital advertising trends, presenting great opportunities for agile firms like Criteo.

Leadership and Cultural Transformation

Under new leadership, Criteo has embarked on a journey of cultural transformation, prioritising diversity, inclusion, and employee well-being. The appointment of a CEO from outside the organisation with a background in sales underscores Criteo's commitment to fostering a dynamic workplace culture that values openness and innovation.

So What Does This Mean?

The global workplace is experiencing transformative changes, driven by a shift towards flexibility, remote work, and inclusive practices. These shifts not only respond to recent challenges but also strategically aim to enhance employee satisfaction, productivity, and organisational resilience.

Flexibility and Work Environment: There is a significant global movement from rigid office attendance norms towards flexible work arrangements. Countries like France are leading this evolution by working collaboratively with employees and unions, moving from prescribed office days to empowering teams with greater control over their schedules through collaborative agreements, boosting autonomy and job satisfaction.

Manuela commented that Criteo's model is completely flexible, focusing more on creating ‘pull factors’ to the office rather than dictating a mandated number of office days. Coming to the office should be intentional because you meet colleagues, learn, and exchange. Providing appealing features like a great office environment and perks like good food can attract employees to the office, though it shouldn’t be the sole focus.

Other social activities and features that create a lively and engaging office environment and foster collaboration should also be considered.

Team Dynamics and Leadership: Central to navigating these changes is the emphasis on team commitment and participatory decision-making in attendance policies. Effective leadership in remote settings is paramount, requiring managers to adopt successful practices that foster team cohesion and morale amid dispersed workforces.

Impact of Remote Work and Pandemic: The COVID-19 pandemic has underscored the challenges of managing remote teams, integrating virtual hires, and maintaining team unity. Over-communication and frequent pulse checks have emerged as critical strategies to bridge gaps and sustain high levels of employee engagement.

Manuela also commented that a culture of getting things wrong is also OK.

We are leading into the unknown and need to encourage ideas, not all of which will work, but that is also OK.

Cultural and Geopolitical Considerations: Cultural diversity is increasingly shaping workplace policies, particularly in managing sensitive issues such as conflict, politics, and religion. Organisations must navigate global geopolitical uncertainties while fostering inclusive environments accommodating diverse perspectives and creating a ‘safe-haven’ for their employees.

HR Strategies and Employee Experience (The Wellness Centre of Excellence): A growing trend towards personalised HR practices is evident, balancing bespoke employee experiences with consistent performance management standards. Leveraging technology for tailored benefits and engagement initiatives has proven effective in enhancing employee satisfaction and retention rates.

Challenges and Future Directions: Challenges ahead include harmonising standardised HR practices with personalised approaches and ensuring managerial accountability. Future strategies are geared towards optimising hybrid work models, redesigning office spaces to foster community, and implementing initiatives like "gravity days" to encourage in-office collaboration and connection.

In conclusion, thriving in the ever-evolving workplace necessitates embracing flexibility, fostering inclusive leadership, and innovating HR strategies. By proactively navigating these trends, organisations can cultivate resilient cultures that prioritise employee well-being and drive sustained business success in the new era of work.