Insights from Milken Institute Global Conference

by Fran Durekas Tags: global, milken conference, recruiting, retaining, work-life

Each year, the Milken Institute Global Conference brings together the brightest visionaries and thought leaders across business, finance, government, academia, philanthropy, law, science and the news media. The Milken Global Conference provides fertile ground for fresh thinking – for new ideas, new frontiers, new definitions.

As this year’s visionaries gathered in the conference hallways, I had the good fortune and privilege to moderate a panel on “Recruiting and Retaining Talent through Work-Life Programs.” After all, the term “work-life balance” has long held a universally understood definition among HR executives and talent cultivators. Or, has it?

When my fellow panelists from Bombardier Inc., Roll Global Inc., Safeway, and Saint John’s Health Center began to unravel this so-called universal work-life balance definition, we discovered that it isn’t at all “universal.” In fact, the concept of “work-life” is changing every day, every hour – and means something different to every employee. The idea that “work” and “life” play two completely separate roles in a person’s world – and, with any luck, can co-exist – no longer hold water. “Work” and “life” inevitably creep together. So what is the key? It’s about “work” and “life” operating together – to keep employees happy, balanced, motivated, and engaged. It’s also about “work” and “life” being smoothly integrated for employees.

As HR executives continue to evolve approaches, it’s worth sharing a few observations from these savvy panelists:

• One size absolutely does not fit all. As Safeway’s Larree Renda (executive vice president, Safeway, Inc. and president, Safeway Health) points out, differentiation – in work-life programs, benefits and services – sets employers apart. Offering “work-life” benefits that employees may not get from another employer can make or break successfully attracting and retaining employee talent.
• Talk the talk AND walk the walk. Bombardier, Inc.’s Senior Vice President of HR and Public Affairs John Paul Macdonald mentions the company’s strong corporate responsibility identity as an example. When Bombardier recruits new talent, the company doesn’t simply say “we value Corporate Responsibility” – instead, it invites prospective employees to contribute their ideas and thinking to help create the company’s next responsible product.
• “Work-life” inspiration comes from role models. Leaders who set examples for striking a healthy, supportive balance between work and other aspects of life, naturally inspire this same philosophy among the employees they manage. By sharing and fostering this practice with their employees, these leaders ensure that the healthy cycle continues. The example of balancing “work” and “life” starts with senior leaders. Hands down.
• Today’s employee is … not necessarily tomorrow’s employee. LaTisha Starbuck, vice president, mission and ethics at Saint John’s Health Center, astutely observes that employees’ lives – both at home and work – are becoming increasingly more complex. Employees are “providing care for their work” and also playing role of caregiver at home for young children, aging parents or other family members. Flexibility in giving employees space to care for their personal/home lives, while staying productive in their careers is not a “nice-to-have” benefit – it’s essential.
• “Work” and “life” is a dynamic combo. Career, family and life all intertwine to create a complex world for today’s employees. Recognizing that this complex combination requires a long-term, real and sustainable approach to keep employees healthy and motivated, is a critical step for HR executives.

While there are more steps to take in the area of “work-life” integration programs – and new approaches to be discovered – discussions like this panel are a major leap in that direction. We’ll be forever evolving work-life integration as our “work” and “life” worlds change. Inspired by the insightful experts and discussions at the Milken Institute Global Conference – I’m confident we’re on a progressive track.

For more on this topic, you can watch a video of the “Recruiting and Retaining Talent through Work-Life Programs” panel discussion or learn more about the 2011 Milken Institute Global Conference by visiting the conference website.

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