How Bloomberg talents deliver the figures
HR Magazine visited Bloomberg Hong Kong to see how the dynamic and transparent organisation recruits and retains its mission-critical talent.
Most professionals know Bloomberg as an influential source of market-moving news, data and analytics, but few are aware of the collaborative corporate culture embedded within the brand. Evidence of this philosophy first presented itself in the organisation’s foyer in Hong Kong—significantly doubling as staff pantry—where sustenance was liberally provided in the form of an ever-replenished selection of snacks and drinks. Here, market-savvy executives conversed on the morning’s trading conditions—a snapshot of the collaboration common to daily working life in the organisation.
True transparency
Rows of transparent glass meeting rooms, along one side of the workspace are synonymous with this open culture and reflect the key values of openness and transparency which are intrinsic to the organisation. Identical in their offices the world over; these meeting rooms house the entrepreneurial spirit of Bloomberg, allowing innovation and excellence to thrive. In terms of internal dialogues: suggestions, new concepts and progress are core to Bloomberg and are encouraged from each and every member of staff through open lines of communication throughout the business. In point of fact, the organisational structure is flat so that job titles—considered restrictive—are not specified on business cards. Mandie Fankhauser, Head of Recruitment APAC, elucidated that the success of the organisation is very much a function of its people, leadership strategy, award winning products and a deep understanding of customer requirements.
Global search for team fit
Employee credentials are critical and it is essential for talent in the organisation to have a non-linear, can-do mind-set in order to help achieve business goals. Fankhauser explained, “Talent must be bold; only those who are able to rise to challenges, actively embrace change and adapt to the diverse and fluctuating face of client demands, can survive and flourish in this swift-paced environment.”
Change is regarded as positive and success rests on an ever-moving target. Once coined the ‘Type B’ personality: Bloomberg employees certainly appear to be dynamic, forthright and results driven. Fankhauser cautioned that this determination to voice out opinions must also be matched with a team-player sensibility and an understanding that only through collaboration can optimum end results be delivered. She also emphasised that the organisation’s recruitment strategy is ‘global’ in the real sense of the term, so that a campaign for talent to work in one geography will span other markets around the world to ensure the correct team-fit.
Professional development
Once on-board, orientation for new hires is a far cry from a one-day induction programme, spanning a twelve month period in which new starters learn about company values and their place within the whole picture. Thereafter, employees are encouraged to take advantage of a variety of different career tools available. An internal career portal offers information from different departments, internal job postings and inspirational career-success stories. The organisation also provides access to mentors, networking events, discovery days and motivational guest speakers.
Career development is also offered from the Bloomberg University where instructor-led training or self-paced content helps further develop staff skills. The drive is to maximise the potential of all incumbent talent and as such employees are expected to take ownership of their careers and those who remain stagnant for too long are given a gentle reminder that more opportunity is there for the taking. Fankhauser elaborated that such opportunities may include repositioning on an alternative project or encompassing extra activities to broaden their scope of experience. Job shadowing is welcomed at Bloomberg so that employees can identify their particular strengths and interests before making their next definite career move.
What goes around comes around
Flexitime, part-time schedules and work-from-home options are available for staff in the firm belief that the opportunity to adjust where and when work takes place will positively affect the quality of employees’ lives both inside and outside the workplace. Fankhauser pointed out that these flexible working initiatives had allowed employees to sustain high performance over the long term and strengthen business results.
Michael Bloomberg himself instilled a strong philanthropic ethos into the DNA of the organisation and this still ranks highly in the organisation’s culture with many projects taking place inside working hours. CSR activities include environmental endeavours such as tree planting and cleaning rivers as well as more community-based concerns. In all cases, the company matches employee-raised charitable donations with equal contributions.
Any organisation that values the social and ethical aspects of employees’ lives, whilst providing a stimulating and varied workload will be better placed to hold onto talent. Moreover, the associated ROI will be high and business risks mitigated as Bloomberg’s low attrition rate attests. But do old hands tolerate the ‘upstarts’ making their fresh-faced opinions known? Jill Fleming, Professional Development, Recruiting, provided reassurance that no such resentment exists, “It’s not about tenure or how long you’ve been in your role; it’s about attitude, passion and performing at a level that is the best you can be. These are the types of employees that progress at a fast pace in our organisation.”
Paul Arkwright
Publisher
