In an exclusive Q&A session with Paige Ross, Global Head of Human Resources at Blackstone, we gain profound insights into the world of talent management and employee development within one of the world’s leading financial institutions. With over three decades of experience spanning various industries, Ross shares invaluable wisdom on fostering a culture of continuous learning, data-driven decision-making, and inclusive leadership. From innovative approaches to professional development to holistic well-being initiatives tailored to diverse workforce needs, Blackstone’s commitment to its employees shines through. Discover how Ross and her team embrace diversity and drive organizational success through unwavering resilience and belief in the potential of every individual.
Drawing from your extensive leadership experience—to become this kind of leader and shape a space to co-create, what are the things that an HR leader needs to learn or unlearn?
We work in a constantly evolving world, so it’s crucial to embrace the humility to learn new things – like staying up-to-date on the latest technologies (AI comes to mind).
Next, it’s imperative to follow the data and develop insights accordingly. At Blackstone, we run an engagement survey each year to check-in on employee sentiment, and to understand where we can do better as a firm. Just as important is being transparent with employees about the results, and informing them of how we’ll take action against what they’ve told us. This continuous feedback loop is critical to raising the bar in how we make Blackstone the absolute best place to grow a career.
Finally, stay hyper-focused on culture – but know that it’s not just HR’s responsibility. Culture is something that EVERYONE owns – and for us, it’s all in how we start our week. “BXTV” is our global, Monday morning all hands meeting, which sets the tone for the days ahead, covers macroeconomic trends and recognizes great work our people have accomplished. And for some levity, we run a weekly photo contest to showcase our employees in and outside of work. I’ll also add: if you’ve seen our holiday video, you know we DO like to have a bit of fun at Blackstone!
Blackstone likely attracts highly driven individuals. How does the company support continued professional development and mentorship within the organization?
We’re an organization that respects hard work and rewards success – and our employees are integral to our culture of integrity, professionalism and excellence. We’re humbled that Blackstone has become one of the most respected financial institutions and a trusted partner for some of the world’s largest investors. I continue to be amazed each year by the interest in working with us. In 2023, we had a staggering 62,000 applications for just 169 full-time analyst positions.
On the development front, we view transition moments as key opportunities for growth, such as when employees join the firm or are promoted. Equally important to developing great investors is cultivating the leadership skills of our people; in fact, our employees participated in more than 13,500 hours of training in 2023. To name a few programs which complement our ongoing Blackstone Curriculum:
- New Hires: Beyond traditional orientation, all new employees hear from our Chairman, CEO and Co-Founder, Steve Schwarzman, and our President and COO, Jon Gray. This way, they get first-hand perspectives from the top of the house on what makes the Blackstone culture so special. New joiners also partake in check-ins at the 30, 60 and 90 day marks, so we ensure a smooth onboarding and course-correct as needed.
- Early Careers: To help our junior talent hit the ground running, we offer a learning curriculum for developing foundational skills, from Financial Modeling and Business Writing, to Time Management and Leading Effective Meetings.
- Next Level Leadership: Each spring, we convene recent promotes to help increase their knowledge of the firm, strengthen peer connections and accelerate success at their new level.
- Business Unit Mentorship: Our businesses pair junior talent with more seasoned mentors, in either pods or 1-1 relationships. This helps to promote connection and learning, in a more tailored way to the team’s needs.
- Annual Feedback Touchpoints: All employees receive ongoing feedback throughout the year, including goal and objective setting, mid-year check-ins and formal year-end 360 degree reviews. This keeps our people accountable against their goals, and mindful of their areas of opportunity.
As of January 1, 2024, we’re proud that nearly a third of our partners globally joined Blackstone as Analysts or Associates. And, as of this same date, more than half of our partners have been with the firm for 10+ years. This is a true testament to our commitment to growing talent from within our ranks.
The private equity industry is known for its demanding nature. How does Blackstone seek to promote work-life balance and support employee well-being?
Core to our mission at Blackstone is creating a culture where all our talent can thrive – and a crucial element of this is supporting their well-being. Blackstone has a suite of resources which are useful to our employees as they navigate different experiences and life stages. These include TELUS Health, our employee and family well-being solution; Headspace, which offers a meditation and mindfulness app, as well as emotional support chats and coaching; and Grayce, which guides those caring for loved ones. Further, we’re heartened to offer services like Kindbody, which support our employees as they navigate their fertility or family-building journeys. These are all part of our broader, comprehensive Benefits offerings.
Also, providing charitable support to our local communities is an additional pillar of our culture, and another important way we instill a commitment to our employees’ well-being. Specifically, in partnership with the Blackstone Charitable Foundation, we organize year-round volunteering events, giving opportunities and our annual employee grant competition, the Blackstone Gives Back Challenge.
Generations Z and Millennial have distinct workplace expectations compared to previous generations. How have the aspirations and needs of high-potential employees changed over time, and how does Blackstone adapt its approach to attract and retain these individuals?
We believe that when people are empowered to do their best work, they generate business results that provide lasting value. Similarly, we believe that teams of individuals with varied backgrounds and experiences make better business decisions. Above all: our greatest assets walk in and out of the door each day. That’s why it’s crucial to have a culture where we not only attract extraordinary talent, but where everyone can thrive throughout their careers.
For these reasons, we’re focused on building a broad pipeline for the next generation of leaders at Blackstone. To do so, we use a hybrid in-person and virtual recruiting strategy to connect to more than 1,000 schools, including Historically Black Colleges and Universities. By the numbers: from year-end 2020 to year-end 2022, the number of women in senior leadership roles at Blackstone globally doubled. During that same period in the US, the number of individuals from underrepresented racial groups in senior leadership roles increased by 2.5 times.
In this vein, our Employee Resource Groups are a prime way we support our people with a strong sense of community and belonging. These networks are open to all employees and serve as a platform for our professionals to expand their cultural awareness and connect with others around shared backgrounds and experiences. These groups include our Diverse Professionals Network (comprising communities for Black, Hispanic, South Asian, Middle Eastern and East Asian employees); our Women’s Initiative; OUT Blackstone; BX Vets; and our Working Families Network.
Leading through transformation often involves navigating resistance to change, both internally and externally. What is your recipe for maintaining your personal resilience?
Whenever someone takes on a new role, it’s important to remember that those making the hiring decision have demonstrated their belief – and the firm’s – in that candidate. This is a mindset that we can carry far beyond the early days in a job. The company believes in you, so you should simply believe in not just yourself – but in your future potential.
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Paige Ross Global Head of Human Resources at Blackstone Paige Ross is the Global Head of Human Resources at Blackstone. In this role she oversees human resource management globally for the firm. Ms. Ross brings more than 30 years of experience in talent development and strategic planning across a multitude of industries and geographies. Photo: Blackstone |
This profile was published in the April 2024 issue of The HR Digest.