BlackRock’s meteoric rise to become the world’s largest asset manager required not just financial acumen but exceptional talent management. Jeff Smith, who served as BlackRock’s Global Head of Human Resources for over a decade, played a pivotal role in this transformation by elevating HR from an administrative function to a strategic business partner.
“HR has broadly not been a respected profession and is just there for administrative purposes,” Smith reflects. “I think HR is a business in its own right and literally enables every single thing that happens in a company.”
When Smith joined BlackRock in 2006, he brought a scientific approach informed by his PhD in industrial-organizational psychology. This academic foundation gave him unique insights into leadership dynamics and organizational behavior. More surprisingly, his statistical training proved invaluable.
“In studying and researching as part of your PhD, you need to understand statistics to test and prove your hypotheses,” Smith explains. “You learn it and that is helpful over time in many ways.”
Smith’s tenure at BlackRock coincided with one of the company’s most significant expansions. He co-led the merger between BlackRock and Barclays Global Investors in 2009, integrating thousands of employees across different corporate cultures. This experience shaped his views on change management and organizational development.
Among Smith’s most innovative contributions was the creation of the Human Capital Committee, which he describes as “a truly unique and impactful accomplishment.” This initiative made talent management leader-driven rather than HR-driven, embedding people strategy throughout the organization.
Smith also championed diversity before it became an industry standard. “I think the leaders have to believe it matters or it is not likely to happen,” he asserts. “And they need to show it in their words and actions.” His pragmatic approach focuses on putting “exceptionally qualified diverse talent in important roles” rather than making token hires.
Currently consulting on talent strategy and leadership development, Smith maintains that the most interesting environments involve growth and change. His passion for transformation emerges clearly when he discusses his preferences: “I am not as interested in stable environments that are not growing or changing.”
As organizations navigate post-pandemic workplace changes, Smith advises flexibility while maintaining core business needs. “The #1 thing in all of this is getting the job done and being a strong performer,” he emphasizes.
For HR professionals looking to elevate their impact, Smith’s experience at BlackRock offers a blueprint for transforming the function from administrative support to strategic business partnership. His evidence-based approach, centered on leadership development and strategic alignment, continues to influence talent management practices across industries.
