From his decade at Merrill Lynch, followed by a decade at OppenheimerFunds, to his current position as Chief Human Resources Officer over at Vitech Systems, Andy Doyle knows what questions he needs to be prepared to field and how best to represent his talent in the boardroom. In this episode, he fills us in on how he strikes the balance between profitability and compensation and how bonuses and salary increases are typically calculated. He shares what he learned from his move from large organizations to an ‘adolescent’ company, what he found needed the most attention upon commencement, and we discuss the immense power of company culture and what needs to be put in place in order to nurture it, as well as what it means to cultivate culture in a remote world. Andy also explains what Vitech has done to actively engage with employees and shares some tips on how to propagate culture from afar.
Key Points From This Episode:
- Introducing Andy Boyle, Chief Human Resources Officer at Vitech Systems.
- Who Vitech’s board is comprised of.
- Find out how Andy prepares for board meetings with investors.
- How Andy strikes the balance between profitability and compensation.
- Insight into how bonuses and salary increases are calculated.
- The vital partnership between the CHRO and CFO of a company.
- Andy’s experience of moving from large companies like OppenheimerFunds and Merrill Lynch to a smaller company like Vitech.
- In what area Andy felt he could be most impactful when he started working at Vitech.
- The factors that go into making a company a great place to work.
- Why it’s important to build a social contract between employees and the organization.
- The power of a great company culture!
- How Andy’s approach to engaging with employees has had to change due to the pandemic.
- The adverse effects of remote work, and how to propagate culture in a remote world.
- The benefits of a change of scenery amidst the remote work lifestyle.
Tweetables:
“If you don't have a great CFO, your job as CHRO is very, very difficult.” — Andy Doyle [0:07:00]
“I think that [the] social contract becomes the foundation of a strong company culture.” — Andy Doyle [0:15:19]
“I've seen the power of what great company culture can do in my career and, when you don't have that, it doesn't matter what your strategy is.” — Andy Doyle [0:15:33]
“People will care about their company when they feel their company cares about them. The leaders of the organization have to do that, not just with what they say, but with their actions.” — Andy Doyle [0:16:23]
Links Mentioned in Today’s Episode: