HR Trends of March 2023: SVB and Risk Management, Coaching Culture

Welcome to our summary of March best reads on HR trends!

This month, trending topics in the HR industry included the Silicon Valley Bank failure and the importance of a strong coaching culture.

HR Trends for March 2023

The SVB failure should cause employers from all industries to examine their risk management practices.

• Risk management is a pillar of successful banking, yet the company was without a risk management officer for several months.
• Company culture isn’t everything: This SVB employee says it was great there, but management failed its workers.
• The failure offers important lessons for HR.
• For one, HR can protect payroll by working closely with finance.

Having a positive coaching culture can build a more resilient workforce.

• Management training can help leaders become better coaches to their employees.
• Employees who feel cared for by their employers feel healthier than those who don’t, with mentoring and coaching being “key drivers.”
• Replacing standard performance reviews with ongoing coaching can be more motivating and offers more timely feedback.
• Even talent acquisition teams are working more closely with L&D to build a more agile workforce. 

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