WhatWorks: Mastercard Evolves To Systemic HR™ - E193
Oct 23, 2024
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Nick Benaquista, SVP at Mastercard, shares insights on the company's innovative HR transformation towards Systemic HR. He discusses enhancing employee experiences through collaboration and technology, showcasing a shift away from siloed models. Nick highlights the importance of adapting HR roles and the successful implementation of programs like employee stock purchases. The conversation emphasizes continuous evolution in HR practices, driven by employee feedback and leadership commitment to creating meaningful experiences.
Mastercard's transformation to Systemic HR focuses on enhancing employee experience through technology and cross-functional collaboration among HR teams.
The ongoing HR transformation at Mastercard illustrates the need for continuous adaptation and resource management to balance evolving organizational demands.
Deep dives
Focus on Employee Experience
Understanding the comprehensive needs of employees is essential for organizational growth, particularly within HR functions. An emphasis is placed on enhancing the overall employee experience by assessing current offerings and ensuring they adequately meet these evolving needs. A significant part of this transformation involves evaluating existing roles and responsibilities to cultivate a more efficient and responsive HR model. This approach aims to provide employees with faster access to the necessary services and resources that align with their expectations, especially considering the rapid growth observed at MasterCard.
Implementing Systemic HR Approaches
The transformation at MasterCard revolves around the concept of systemic HR, which promotes cross-functional collaboration to address interdependencies within the organization. This new model encourages disparate HR teams to work together, emphasizing the importance of experience owners, technology owners, and leaders coordinating efforts to provide cohesive solutions. By developing infrastructure that fosters these collaborative relationships, the organization aims to overcome siloed operations and create a united front in handling employee needs. This collaborative effort represents a significant cultural shift within HR and sets the groundwork for more integrated service delivery.
Continuous Evolution and Challenges
MasterCard's HR transformation emphasizes that true change is a continuous journey rather than a one-time project, necessitating ongoing adjustments and adaptations. Despite the enthusiasm for evolution, challenges abound regarding resource allocation and the balancing act of maintaining day-to-day operations while pursuing transformation initiatives. The shift towards a dynamic HR model underscores the importance of prioritizing actions and sequencing changes effectively without compromising urgent business needs. As new technologies and organizational demands arise, the HR function is positioned to evolve further, including the integration of AI to enhance operations and employee engagement.
In this episode of the WhatWorks podcast series, Nick Benaquista, SVP, People and Capability Partner, Chief Administration Office and Strategic Growth at Mastercard, shares how Mastercard has transformed HR from a static, siloed, overlapping model towards the product and consulting-oriented model of Systemic HR. Now in year 2 of the ongoing transformation, the company is continuing to change HR roles, jobs, operating models, and skills, and is using technology and AI to elevate the employee experience and its continuous business transformation.
Interviewee Nick Benaquista, SVP, People and Capability Partner, Chief Administration Office and Strategic Growth at Mastercard
Company Mastercard, a leading US-based global payment solutions provider with 33,000 employees