CNBC WEC Member Town Hall: The Economy, Jobs and Strategies for 2023
Host
Dom Chu, CNBC Senior Markets Correspondent
Speakers
Nela Richardson, ADP Chief Economist
CNBC WEC Member Town Hall: The Economy, Jobs and Strategies for 2023
Sorting through the maze that was 2022 and arming HR executives with insights and strategies for talent, wages, and the economy for 2023 was the topic of the Workforce Executive Council Town Hall.
Key Points
- CNBC senior markets correspondent Dominic Chu kicked things off with the question that was likely on everyone’s mind: Are we in a recession? Richardson’s response: No, we’re no
- A slowdown is coming—and it’s a global one. The key indicator for this is worker productivity. Richardson said 2022 is the first year since 1983 when we’ve seen three straight quarters of year-over-year drops in average productivity per worker. Simply put: All workers are working more and producing less.
- The persistence of labor shortages is impacting wages. Wages went up, but they are plateauing. Wage growth is seen mostly in lower-paying jobs in consumer facing industries.
- More than 3.5 million workers have left the job market. About 60% of those workers are retirees and that’s creating a skills gap. Are enough workers coming into the workforce to replace them? We don’t know.
CNBC CEO Council Private Dining Experience in New York
Host
Andrew Ross Sorkin, CNBC “Squawk Box” Co-Anchor
Speakers
Bonnie Brennan, Christie's Americas President
CNBC CEO Council Private Dining Experience in New York
Members gathered for a special CNBC CEO Council Experience—a private preview of Christie’s Luxury Week Auctions, featuring Magnificent Jewels, Watches, Handbags, and Streetwear.
CNBC CFO Council Annual Member Summit
Host
Tyler Mathisen, “Power Lunch” Co-Anchor & Vice President, Events Strategy
Speakers
Jared Bernstein, The White House Council of Economic Advisers Member
Peter Boockvar, Bleakley Financial Group Chief Investment Officer
Rep. Kevin Brady (R) Texas
Sarah Dougherty, Green Finance Center, Healthy People & Thriving Communities Program, NRDC Director
Robert Gibbs, Former White House Press Secretary, Senior Counsel
Sean Hannah, Thayer Leadership Faculty, U.S. Army, Retired
Rep. Patrick McHenry(R) North Carolina
Dewardric McNeal, Longview Global Managing Director & Sr. Policy Analyst
Jen Psaki, MSNBC Host & former White House Press Secretary
John Schaus, The Center for Strategic and International Studies Senior Fellow
Seth Stephens-Davidowitz, Data Scientist, Author, and Keynote Speaker
Diane Swonk, KPMG LLP Chief Economist
Jay Timmons, National Association of Manufacturers President and CEO,
Sen. Pat Toomey (R) Pennsylvania
Deborah Wince-Smith. U.S. Council on Competitiveness President & CEO
Sen. Ron Wyden (D) Oregon
Sara Eisen , CNBC "Closing Bell" Anchor
Eamon Javers, CNBC Senior Washington Correspondent
Steve Liesman, CNBC Senior Economics Reporter
Ylan Mui, CNBC Senior Congressional Correspondent
CNBC CFO Council Annual Member Summit
A culmination of our yearlong programming, the 2022 CNBC CFO Council Summit is the flagship event, bringing together members, speakers, and CNBC journalists and contributors, to tackle complicated topics. This one-of-a-kind event hosts interactive sessions, compelling panel discussions, and features global thought leaders.
4th Annual TEC Summit
Host
Tyler Mathisen, “Power Lunch” Co-Anchor & Vice President, Events Strategy
Speakers
Robert Enslin, Co-CEO, UiPath
Oren Falkowitz, Cloudfare Founder & CEO
Simon Fischweicher, CDP North America Head of Corporations and Supply Chains
Jarel Hawkins, Truist Bank Head, Enterprise Intelligent Automation
Brian Hindo, Innosight Managing Director
Ash Jhaveri, Meta Vice President, Reality Labs Partnerships
Arun Kumar, IPG Chief Data and Technology Officer
Steven Mnuchin, Liberty Strategic Capital Founder & Managing Partner and U.S. Secretary of Treasury
Patricia Pina, Clarity AI Head of Product Research & Innovation
Rajiv Ramaswami, Nutanix President & CEO
John Riccitiello, Unity President & CEO
Linda Shaffer, Checkr Chief People & Operations Officer
Arun Sundararajan, NYU Stern School of Business Professor
Kemba Walden, Office of the National Cyber Director Principal Deputy National Cyber Director
4th Annual TEC Summit
Bringing together industry thought leaders, stakeholders, CNBC journalists, and Technology Executive Council members, the 4th Annual CNBC Technology Executive Council Summit is the ideal forum to tackle these pressing issues. The half-day summit combines moderated panels, smaller interactive group discussions, and peer-to-peer networking opportunities. For more details on this event visit: https://www.cnbcevents.com/tec-summit-2022/ The TEC Summit is an exclusive event for members; learn more about the TEC and apply for membership at www.cnbccouncils.com/tec.
Business on the Ballot: An Election Day Conversation for CEOs
Host
Sara Eisen, CNBC “Closing Bell” Anchor
Speakers
Rep. Ro Khanna (D) California
Eric Cantor, fmr. House Majority Leader & Moelis Vice Chairman and Managing Director
Business on the Ballot: An Election Day Conversation for CEOs
CNBC’s Sara Eisen, Rep. Ro Khanna (D-CA) and fmr. House Majority Leader & Moelis Vice Chairman and Managing Director Eric Cantor joined members for the CNBC CEO Council for an exclusive conversation on the policy calculus for companies coming out of the heated midterm elections.
Key Points
- The economy: Rampant inflation, the Fed’s aggressive interest rate hikes, tax policy, the debt ceiling, and fears of a coming recession in the U.S. and globally: economic uncertainty is high and the midterms will determine who will steer the country through potential crisis.
- Climate and energy policy: Key races in battleground states for climate action could have major consequences for companies in traditional energy sectors, and beyond.
- Healthcare: Access to health care and reproductive care may shift dramatically in many states. What’s at stake for the workforce?
- Foreign Policy: How legislation over the next two years will impact U.S. industrial policy, and the ability to counter the influence and China and Russia.
- Technology: Section 230 reform, regulatory intervention in data collection and privacy protections, cybersecurity risks, and first Amendment rights all hang in the balance: the midterms will determine whether Big Tech will face a major overhaul.
CNBC CFO Council Fed Matters — November 2022
Host
Steve Liesman, CNBC Senior Economics Reporter
CNBC CFO Council Fed Matters — November 2022
Members of the CNBC CFO Council met with Steve Liesman, CNBC Senior Economics Reporter, for a discussion ahead of the FOMC meeting including survey results from a panel of top Wall Street economists, money managers and market strategists about their Fed policy predictions.
Key Points
- The main pivot in discussion on when the Fed will raise rates, and when they will pause them, is reducing the rate of increase.
- 75% of survey respondents say that rising unemployment will be the main thing that causes the Fed to cut rates.
- 68% of survey respondents say Fed rate hikes and balance sheet reductions increased systemic risk, and 60% of those respondents say the increase is somewhat high.
- The employment market is moving at its own pace, dealing with bringing people back into the workforce, early retirees, and the immigrant worker rate dramatically decreasing.
- In order for the Fed to cut rates, it has to see a PCE number below 2.6 for five months, a GDP growth of -2.2%, and an unemployment rate of 5.3%.
3rd Annual WEC Summit
Host
Sharon Epperson, CNBC Senior Personal Finance Correspondent
Speakers
Maeve DuVally, Goldman Sachs Consultant & LGBTQ+ Advocate
Rocco Giannetti, Gensler Principal and Managing Director
Keli Goff, 'Left, Right & Center' Contributor
Vivek Murthy, United States Surgeon General
Alison Omens, Chief Strategy Officer, JUST Capital
Dave Price, Weather Anchor, NBC 4 New York & Former HR Leader
Delano Saporu, New Street Advisors Group CEO & Founder
Judy Smith, Smith & Company Founder & CEO
Dave Stephenson, Airbnb Chief Financial Officer and Head of Employee Experience
Michael Steele , Former Lieutenant Governor of Maryland
3rd Annual WEC Summit
CNBC’s 3rd Annual Workforce Executive Council Summit convened WEC members to discuss key program themes, including the loneliness epidemic, the mental health of employees, and creating inclusive, supportive environments where both employees and the business can thrive. For more details on this event visit: https://www.cnbcevents.com/wec-summit/. The WEC Summit is an exclusive event for members; learn more about the WEC and apply for membership at www.cnbccouncils.com/wec.
Key Points
- According to speakers Keli Goff and Michael Steele, it is imperative that companies remain on top of the constantly evolving political environment, particularly with the midterms just a few weeks away. Goff and Steele also however urged companies to stay true to their foundational values to ensure a sense of trust amongst workers.
- While most employees wouldn’t hesitate to call out of work for an important doctor’s appointment, most would not feel comfortable letting their boss know they couldn’t make it to work because they’ve been struggling with their mental health and had to attend therapy. According to U.S. Surgeon General Vivek Murthy, this is where the culture can and must start to change.
- Reimagining office spaces to align with the new normal of hybrid work is a pressing issue for most companies across the board. In Rocco Giannetti’s eyes, creating a space to allow employees to not just be able to focus but also socialize, is key, especially for Gen Z workers.
- Just earlier this year, Airbnb implemented its “work from anywhere” policy which allows employees to work and live anywhere they desire. According to CFO Dave Stephenson, being intentional about the design of this new policy has been crucial to ensuring employees can have the best of both worlds in their working experiences.
- Maeve DuVally knows firsthand just how important it is to be one's true self at work. Following coming out as transgender at Goldman Sachs in 2019, DuVally was assigned a relationship manager as she went through her transition which was a gamechanger in putting her at ease during this time. DuVally is now urging other HR executives to take similar initiatives to ensure support across the board.
- Working in HR often comes with countless feelings of “I could have done that better.” By taking different HR crises over the years and adding a twist on them in a thought provoking interactive session, HR executives can better prepare for any potential issue that may be thrown their way in the future.
- Founder and CEO of Smith & Company, Judy Smith knows a few things when it comes to crisis management. The real life Olivia Pope urged leaders to keep in mind the importance of listening to stakeholders, preparing for backlash, accepting not always having the full truth among other important concepts when dealing with a crisis at work.
