Author: M3 Placement

We’re living in challenging times, both economically and socially. The effects of the pandemic have turned out to be more far-reaching and long-lasting than anyone anticipated. Geopolitical tensions like the war in Ukraine are having devastating repercussions. And the social unrest spurred by the overturning of Roe v Wade, widening racial inequities, and escalating political division are creating a highly volatile environment. 

In a disruptive world, it’s difficult for business leaders to stay focused on their “true north,” or even to stay certain about what that true north is. Sometimes you need a beacon to help guide the way. 

For me, one of the beacons that have helped me stay focused on my calling and grow as a leader, no matter how turbulent the world gets, is the concept of conscious capitalism. 

I became involved in the Conscious Capitalism network several years ago before the pandemic hit. Looking back, I can see it was a serendipitous decision because the Conscious Capitalism network proved an unwavering source of strength during those difficult early days and even now in these volatile times by forming a unique association of leaders from around the world called the Senior Leadership Network SLN.  Fellow members met every few weeks and challenged me to look deeper into my beliefs, gave me the energy to persevere, and re-energized me to focus my life’s work on impacting people’s lives.  Those leaders who span from Brazil to Mexico and across the US have become some of my most cherished professional friendships despite never having met in person.   

What Conscious Capitalism is All About 

Conscious capitalism is about operating businesses in ways that elevate humanity – a much-needed concept in today’s world. That may sound like a broad and lofty goal, but it’s abundantly evident that companies can and do make a positive impact on human lives and communities while still minding the bottom line.  

Companies that practice the tenets of conscious capitalism perform 10 times better than their peers. And when businesses operate profitably, the effects ripple across people’s lives in significant, meaningful, and tangible ways. As Whole Foods CEO John Mackey says in his book Conscious Capitalism (which I highly recommend!), people feel most fulfilled and happiest when their work aligns with their inner passions. Well-run, values-based businesses that allow people to achieve that alignment can create prosperity for their employees, their families, and the larger community.   

Becoming involved with the Conscious Capitalism network was a natural step in a journey that started when I was a young girl, watching how my father approached business. I think of him now as an “unconscious conscious capitalist,” and the principles he instilled in me ring true even more today than they did back then. 

My Journey Toward Conscious Capitalism 

Long before I joined a network of like-minded, caring people devoted to encouraging conscious capitalism, I was learning those principles by observing how my father led a successful family-owned telecommunications company. He was exceptionally committed to his employees, customers, vendor partners, and the community, often putting them first in his decisions. And he took the time to understand how his team was really feeling and how their families were really doing—going beyond the surface because he truly cared. 

What I learned about conscious capitalism in those early days was this: Putting people first and achieving profitability aren’t mutually exclusive. In fact, a focus on people is one of the drivers of the most successful, profitable companies. At the same time, when companies hire people who align with the organization’s higher purpose and the individual’s inner passions, they attract people who are committed to the business’s mission and more likely to stay.   

When I reflect on the experience of learning about conscious capitalism, I can see that my introduction to this leadership philosophy was a case of perfect timing. I had attended a few CEO Summits hosted by the Conscious Capitalism National organization and met some remarkable business leaders who were living and breathing this idea. Their energy and passion was contagious. Then when COVID-19 hit, the group accelerated its efforts to build out the network so it could provide much-needed support for business leaders who were struggling with the new normal. Conscious Capitalism’s response was a game-changing moment for me personally and professionally. 

As the world literally shut down, I drew strength, inspiration, and energy from other business leaders in the network. The Conscious Capitalism community became a virtual gathering place for like-minded leaders to support each other and a place where everyone was comfortable acknowledging that they felt vulnerable and uncertain. We leaned into each professionally and personally, even though the sudden and tragic loss of our group chairperson who inspired us from day one. 

It wasn’t until things calmed down a bit and I was able to look back that I realized: that growing up with an unconscious conscious leader and being introduced to the Conscious Capitalism community combined to make a powerful impact on me as the leader of my own company and in the work that M3 Placement & Partnership does for our clients.  

How Conscious Capitalism Impacts My Work 

As organizations were locking down in the early pandemic days, placing employees on furloughs or letting them go, my first instinct was, “How do we lean in and impact people’s lives and help organizations have hope?” As Mackey highlights in his book, sometimes you must take risks to follow your true north.  

For me, that meant figuring out how to be a true servant leader at a time when organizations and their employee desperately needed more support and direction. I started by creating content on how to interview candidates and onboard new hires virtually, to help organizations pivot fast. From there, it evolved to helping companies find, articulate, and fulfill their higher purpose (a key tenet of conscious capitalism) and attract people who fully align with it.  

All of that work tied back to my own higher purpose: impacting lives. By partnering with companies to create cultures that demonstrate and foster high emotional intelligence—where employees can align their personal beliefs and inner passions with the work they do every day—my team and I have been able to help organizations and the people they employ to become more fulfilled and successful.    

What Conscious Capitalism Looks Like in Action 

When I launched M3, I modeled my father’s unconscious embracing of this concept almost instinctively. For example, when it came time to develop my company’s mission, it was quite simple; we were formed to change people’s lives. I recognized that I couldn’t help organizations attract and retain the best talent—and help them create a culture that encourages employees to stay—unless I led a conscious business myself.   

The concept of conscious capitalism took roots in me at a young age, informally, but over time I learned about this movement in a more formal way. By becoming involved in the Conscious Capitalism network, I discovered that the principles at its core—conscious leadership, higher purpose, stakeholder orientation, and conscious culture—are a direct reflection of what my father modeled while leading a major company.  

What does that look like daily? 

For a company like M3, it means:  

• Choosing to partner with organizations that are as committed to their employees’ well-being as they are to the bottom line 
• Being thoughtful and intentional in hiring employees who share our values and our passion for changing lives   
• Making sure our company mission, values, and higher purpose always lead our decisions—even the tough ones! 
• Operating with authenticity in all our interactions 
• Taking great care of our clients holistically—both the companies that trust us to find and retain top talent and the talent we help find the right fit for their professional and personal goals 
• Helping companies from the inside out—which includes ensuring they’re not just recruiting new staff, but creating a culture that intrinsically encourages them to stay  

In the 10 years since I founded M3 Placement & Partnership, I’ve learned that if you put people first and always do the right thing, consistent with your mission and values, you’re bound to succeed at every level. That’s what conscious capitalism really comes down to—creating a culture that benefits the organization as a whole and every individual that makes up its family. It’s helping people go home from their workday as better partners, parents, friends, and community members. 

I’m eager to keep learning and growing with the support of other leaders in the Conscious Capitalism community and would love to see us form a Capital Region chapter one day! 

Mary Malone McCarthy is CEO of M3 Placement & Partnership.

“It’s the new normal.” 

“The only constant is change.” 

We hear these phrases so often that it can be tempting to turn a deaf ear. Perhaps they’ve begun to sound trite because we know change is part of the ebbs and flows of any business and any economy. We don’t need a reminder.

Or do we?

Over the past two years, HR professionals have been hit with the kind of sea change that can only be described as transformative. From new ways of recruiting and retaining talent in an unprecedented labor market, to the complexities of return-to-work policies and the intricacies of setting pay bands for a remote workforce, what we do today sometimes bears little resemblance to what we did yesterday.

Being more agile and nimble forces HR professionals to act differently. When really, we need to think differently.

Digging Below the Surface

The exit interview is a prime example. HR professionals have always found value in understanding why a key employee is leaving and applying those learnings to improve the culture and reduce turnover. Now, more HR teams are conducting “stay interviews” aimed at getting ahead of retention problems. 

The stay interview is a great way to act differently in this new environment. But to be effective, it demands thinking differently about who and how we engage in these conversations. That means not making assumptions about who is/isn’t a flight risk (which has blindsided some companies), avoiding surface-level questions that don’t get at the heart of issues, going beyond surveys that have limited utility, and showing authenticity in asking how someone is truly doing. 

My father was CEO of a family-owned telecom company, and he instinctively conducted his own version of the stay interview before it became vogue. He was known for cutting through the superficial, digging deep to learn what was really on the minds of employees. That kind of thinking differentiates companies that stagnate from those that thrive, even in a challenging labor market.

Modeling the Behavior

Most successful companies have leadership development programs that build the competencies managers need to motivate, coach, and lead teams, focusing on skills like communication, influence, and resilience.

But in a volatile world, what those leaders may need most is a framework and a model for how to build greater intimacy within teams—equipping them to engage in more intentional conversations, understand employee pain points and goals, spot brewing problems, and improve the employee’s experience and the company’s retention rate. 

It may sound nuanced, but it’s a very different way of thinking about leadership development. And it demands that the C-suite is able and willing to model the behaviors themselves, showcasing how it’s done so managers can apply the concept. 

Balancing Competing Priorities

You need to get more employees in the front door. But you can’t risk losing just as many out the back door. However, that’s a very possibility in the current climate.

Balancing these competing priorities takes a more thoughtful approach. If one segment of your HR team is busily creating compelling recruitment materials and rewriting recruitment ads—but no one is working on new retention strategies—you’ll end up running in place.

Retention strategies need to go beyond the obvious, especially given that what employees value today is much different from what they valued yesterday. For example, I found that mental wellness was a major area of interest for my own team, so I partnered with a wellness company to add that benefit to our package. They’re taking full advantage of this opportunity and sharing how grateful they are.  

By thinking differently about how to balance the growing number of competing priorities your HR organization faces in these volatile times, you’ll make better progress on multiple fronts.   

Looking Around the Corner

None of us has a crystal ball, but that doesn’t mean we can’t pay close attention to trends, anticipate change, and prepare for it proactively. 

The most adaptable HR leaders think differently about change—looking around the corner to see what may be coming and embracing it as an opportunity. The shift to a remote workforce is a great example. While some organizations rigidly viewed it as a temporary, necessary move, forward-thinking companies seized on the chance to offer compensation packages that are more competitive for out-of-market candidates. 

When you think two steps ahead and welcome the change you see coming, it opens worlds of possibilities. 

Practicing Self-Care

HR professionals are operating in a pressure-cooker environment today. While it’s important to maintain high performance standards, it’s just as vital to recognize that perfection isn’t realistic when the floor is constantly shifting beneath your feet. 

What helps? Identifying what’s in your control, focusing your energies where they will yield the greatest ROI, embracing that the work you’re doing can impact the entire organization (without letting that fact overwhelm you), and practicing self-care within your HR team by celebrating small wins and picking each other up.     

Building healthier, more caring organizations is within reach, even in these fast-changing times. It just requires that we all think a little differently. 

Mary Malone McCarthy is CEO of M3 Placement & Partnership.

Our CEO, Mary Malone McCarthy, was asked to write an article for Chief Executive, an online Chief Executive Group community. You can find the original article here.

---

Attracting and retaining the best talent has never been easy. Today, it’s a more formidable challenge as candidates and employees bring different priorities and expectations to the table.

What does that mean for you as a CEO?

The ability to attract and retain the talent that’s crucial to success starts at the top. As a CEO, you can make a powerful impact on your organization’s recruitment and retention at a time when it’s more vital than ever.

How CEOs Impact Talent

Just like the pandemic altered employee expectations in ways that may never revert, this shared experience changed how CEOs view their role. Facing a virus that knew no boundaries, many leaders paused, looked inward, and considered how they could be more thoughtful, caring stewards of their workforce.

Staying in tune with the needs and expectations of your current and prospective employees and creating a supportive culture isn’t just altruistic; it’s good business. In a Gallup report, companies that scored highest on employee engagement enjoyed 21 percent higher productivity than those with the lowest engagement scores.

As a CEO, you set the tone for your organization—and that sets the foundation for recruiting and retaining the talent you need to succeed. So how can you ensure your company stands out from the crowd when attracting and retaining talent? These five strategies provide a great start.

1. Make Sure Your Mission Is Clear, Relatable, and Visible

Many companies spend significant time and effort to develop their mission, values and vision. But fewer organizations ensure those elements come to life in everything they do, including hiring and retention. Today’s employees and job seekers want to work for companies that match their values and make a positive impact on customers and communities. That means your mission, vision and values need to connect with them—clearly and powerfully.

Be sure your company shares vivid, relatable stories about employees who are thriving, passionate and living your mission, so candidates can picture themselves working there. Challenge your HR team to ensure every recruitment touchpoint and document brings to life the “why” of your organization.

2. Demonstrate You’re an Authentic, Caring Leader

My father was the CEO of a company with 150 employees. He cared for each like family, and that was reflected in the longevity of great talent and their pride in taking care of customers. He had two simple beliefs: “Do a little more a little better” and “The little things are the big things.” Any time an employee experienced a high or a low in life, he wrote a personal note to show he cared. Even if your company is too large for that approach, there are ways a CEO can demonstrate care and authenticity with employees and with candidates for key positions.

Walking the production floor, taking people to lunch and attending roundtables are a few of the many ways to get a pulse on your current and future workforce. But it means going beyond a quick wave and a generic “hello.” Ask pointed questions, like “How are you really doing?” and “What keeps you up at night?” Open yourself to honest answers, then be prepared to respond and follow up.

3. Challenge Leaders to Think Differently

Senior leaders and department managers understand they’re responsible to manage P&Ls and achieve metrics of performance. But do they recognize they’re also responsible to develop a culture that attracts and retains the best and brightest?

Within the overall company culture, mini cultures exist in departments and regions, each impacted by their respective leaders. And they can make or break your ability to recruit and keep the talent it takes to achieve your goals. Be sure every leader understands their role in creating an environment people want to join and stay with. Ask questions like, “What challenges does your group face at work and at home?” If you get vague answers or pushback, it means your team has work to do to become the kind of leaders that people want to work for.

4. Invest in a Strategic HR Leader

The role of human resources has changed dramatically—but has your company kept up? Today, the best HR leader serves as a trusted advisor to the CEO and a key member of the leadership team. The right person will get a pulse on your workforce’s needs, pain points and expectations; share the good, the bad and the ugly; and help turn your vision into reality by ensuring the company hires, retains and engages the best talent.

If your size and budget make it prohibitive to hire a full-time C-level HR leader, consider hiring a Fractional Chief Human Resources Officer. A fractional approach to C-suite positions can be an effective way to secure the experience and capabilities you need while only paying for a “slice” of a strategic resource.

5. Rethink Employee Benefits

Organizations that view employee benefits as a vanilla tactic rather than a strategic advantage are falling behind in the talent race. Yesterday’s employees and candidates looked for a benefits package that checked the main boxes. Today, an appealing package meets employees where they are.

If a portion of your workforce is hourly-wage workers from underserved communities, consider offering a daycare allowance or free diapers (as one of our clients does). After two years of emotional fatigue from the continued ups and downs of the pandemic, mental wellness services may be a much-appreciated addition to your benefits. The more in tune you are with employees, the better you can gauge which non-traditional benefits they need and value.

As a chief executive, what you say and do has a ripple effect across your organization, even when it comes to talent recruitment and retention. By setting a strong foundation for attracting and retaining the talent that drives success, you’ll build a workforce that’s more productive and satisfied at work, better partners and parents at home, and better contributors in the community.

Let us help you build a successful talent pool program, one that works as well for you as it does for those who join it. Contact M3 Placement and Partnership today for your free consultation.