How did you end up on the path to CHRO? What career experiences helped prepare you for that role?
I had always thought, I'm just going to do great work, but I realized that's not always all there is to success. You have to build relationships, understand organizational dynamics and know where your work fits in within the larger business.”
Paige Ross: Funny enough, I got into HR by accident, following my graduation from Hofstra University with a PhD in organizational psychology. I began my career working in consulting for several firms: I started in compensation and then expanded my focus, learning the value of touching all different aspects of HR. These experiences helped me figure out what areas I was most interested in. I realized that to learn how best to motivate people, you can't just practice one piece of HR. You have to think about how to develop, promote and reward people. While compensation is a key part, it's not the only element.
In moving roles, I’ve always thought in terms of what I’m missing in my career or skill set, which is why I took on opportunities with both Pfizer and Avon. For example, at Pfizer, I had never done M&A before. But they had just bought Wyeth and wanted me to be the head of HR for the consumer business. I went for it, and that job challenged me to my core. I had always thought, I'm just going to do great work, but I realized that's not always all there is to success. You have to build relationships, understand organizational dynamics and know where your work fits in within the larger business.
My first position at Avon was a global talent development role, where I learned about globalization and how each region and leader had their own unique way of doing things. Part of being successful is understanding people’s expertise and bringing that to bear, so that was a muscle I developed. I then became Avon’s head of HR for North America, a unit that was really struggling. At first, I didn’t want to take it. I had a global job that I loved. But ultimately, it gave me an opportunity to work in a turnaround business, to manage a P&L, to work with incredible leaders and to help change the business trajectory. Within two years, we — meaning all of us, the whole team — went out and did just that.
Those experiences led me to my final position before joining Blackstone — a role leading talent management at Centerbridge Partners (an investment firm). At the time, I was actually weighing an offer to be CHRO for a different global company, and my mentors were all telling me to take that job. But my gut told me Centerbridge was an opportunity I couldn’t pass up. It was an industry I knew nothing about. It was a new role that never existed before. At that point, I had hit on every aspect of HR, and I was confident I could repeat that anywhere. The way I saw it was, even if it didn’t work out, at least I'd have learned a whole new industry. So, I took it. That job taught me how to focus on the two or three things that could move the needle to help a company grow and be successful. Working with Centerbridge’s portfolio companies across all different sectors was also a huge learning opportunity.
Above all, trusting my gut and taking the Centerbridge role put me in a great position for my current job with Blackstone, a seat that I feel privileged to sit in.
Tell me about your role as CHRO at Blackstone and how you work with the C-suite team.
Paige Ross: What makes Blackstone so successful is that we don't get distracted. We focus on our North Star. My job, and my team's job, is to make sure we identify, recruit, develop and keep the best talent, period.
Blackstone Chairman, CEO and Co-Founder Steve Schwarzman has a relentless pursuit of excellence; he wants the firm to do great things with great people who operate with integrity and professionalism. Our people have such passion for their work and for our clients and take true pride in being a trusted partner to some of the largest investors in the world. To date, we’re proud to say that we have more than $1 trillion in assets under management, 230+ portfolio companies, about 12,400 real estate assets and nearly 700,000+ people employed globally across our portfolio. As we often say, it’s our people who are Blackstone’s greatest asset — which is why we continue to invest in our HR function.
After joining Blackstone, I looked at our promotion process, among other things, and wanted to make some changes. I put together three pages of recommendations and sat down with Blackstone President and COO Jon Gray and Steve who said, "Okay, let’s do it." Their approach is, if you can make a cogent argument for something that would deliver results to the business, then do it. Don't assume they are doing everything right.
It’s incumbent upon HR leaders to have the courage to show what we can do, the ability to learn what we don't know and to always think like a businessperson. The best HR leaders are businesspeople first, with an expertise in HR.”
For example, we’re now in our fourth year of doing an engagement survey that we piloted after I joined. Before the first one, I was told, “We don't need an engagement survey. We know how our people think.” But I said, “Let’s try it anyway.” And we got some interesting findings. We analyze the data each year and have made considerable enhancements across many areas, such as how we communicate with our employees. For example, every Monday morning, we kick off the week with “BXTV,” our firm-wide meeting, which brings equal parts energy and transparency. Similarly, we’ve invested in robust training and mentoring programs to help our people grow professionally. We also took our 360-degree review process and made it more robust, while also implementing assessments for both talent and compensation. These things are proving their value by helping leadership make better talent and business decisions; but above all, they drive Blackstone’s HR mission: to recognize talent, respect hard work and reward success.
What are your thoughts on AI and how it fits into work and HR in particular?
Paige Ross: From a business standpoint, we’re focused on providing backing to companies poised to benefit from the AI revolution, as well as arming our portfolio companies with the tools they need to stay ahead of the AI curve. When it comes to data centers, Blackstone owns the fastest growing platform in the world, and we’re positioning the firm to be the largest financial investor in AI.
On a more personal level, Steve has been a strong and early supporter of AI, with more than $500 million in donations made to MIT, Oxford and Harvard. And from an HR perspective in the U.S., AI has helped us extract themes from our 360-degree reviews and our engagement survey.
Now, while it’s an incredible tool, AI will never replace human judgment. So, we need to be open-minded about what it is and what it isn't. We also need to grow with it, because AI will continue to transform how we function internally at Blackstone, across our portfolio and throughout the industry.
What skills have helped you succeed as an HR leader, and what advice would you offer future HR leaders?
I’ve had people who have the right answer and the right judgment, but they lack the courage to speak up when they know it’s what the business might not want to hear. You need that courage."
Paige Ross: There are some extraordinarily talented people in HR. But there are also some who are satisfied just doing what the business wants them to do, rather than what they should do. I’ve had people who have the right answer and the right judgment, but they lack the courage to speak up when they know it’s what the business might not want to hear. You need that courage. If you're inviting me to the table, assume I'm going to give you my point of view — full stop. You may not agree with me, but you're always going to get my honest view. That approach has helped me hire C-suite executives, work with challenging business leaders, talk about certain issues and enable success. If I don't have that courage, then I shouldn't be at the table.
It’s also important to always be learning. Have the humility to know that you don't know everything. Have the courage of your convictions. Always have a perspective and share it, and don’t forget to have fun. I think HR is the best career in the world, and I’m so honored to work every day with an exceptionally talented team at Blackstone.