People and organisational performance

Paperjam: In the quest for performance, what is the role of the HR director alongside the CEO? Does the role involve executing a roadmap, or guiding corporate strategy?

: The role of the HR director at the Luxembourg Stock Exchange goes well beyond execution: they work with the CEO and the executive committee to develop an HR strategy that is in line with the company's vision and the expectations of its employees. Complementarity is essential to balance performance and human capital.

How can we combine the quest for performance with ever-higher aspirations in terms of work-life balance?

This is a very topical issue, and we are integrating the quest for performance with a culture of balance, with flexibility policies and tools that encourage autonomy. The key is a collaborative approach, also with our staff delegation, which values results without sacrificing wellbeing.

Talent acquisition

The job market is dominated by the 'war for talent'. How does this play out in practice in your own recruitment processes? What difficulties are you facing?

The 'war for talent' means that candidates are more demanding and recruitment times are longer. We are facing very stiff competition, some of it international. Another of our challenges is that, as the only stock exchange in Luxembourg, it is difficult to find candidates who already have proven experience in our business.

What 'weapons' does your company use to fight this battle? And what additional 'weapons' would you like to have at your disposal if you had the power to change regulations and laws?

Our main 'weapons' are a strong employer brand and an agile process. Our greatest factor of attraction remains our uniqueness and the possibility to discover unique activities in Luxembourg. There's only one stock exchange!

Greater regulatory flexibility, particularly on cross-border teleworking, would be a valuable asset.

Employer branding

Applied to your organisation, what is your definition of 'employer branding'?

Our employer brand reflects an innovative, inclusive and sustainable development-oriented environment, in line with the values of the Luxembourg Stock Exchange. It is a key tool for attracting and retaining talent.

In the light of this definition, how important is HR in promoting this 'employer brand'?

Human resources plays a central role in aligning internal practices and external messages to reinforce this employer brand. Each of our HR initiatives contributes to consolidating this identity.

Reskilling and upskilling

In terms of upskilling, what are the priority needs that you have identified within your organisation?

Our upskilling priorities are digital transformation and ESG expertise, which reflect changes in the financial sector.

And what tools and systems have been put in place within your departments to support the ongoing training of employees?

We have set up partnerships with training organisations--including one of the Big Four--and digital platforms to guarantee continuous, personalised learning.

Talent retention

Is the 'war for talent' also being waged on talent retention? And if so, what is your conclusion? That today it is just as complex to attract talent as it is to retain it?

Retaining talent is just as complex as attracting it, especially in a market as competitive as ours. It requires a comprehensive offer: career, training and wellbeing. Not to mention providing solutions tailored to the needs of the new generations.

What have been the main changes, or what changes are underway, in your company's 'employee pathway'?

We have digitalised several stages of the employee career path and strengthened individual support, in particular through mentoring and internal mobility programmes.

New ways of working

Flexibility, teleworking... Since the covid crisis, the desire for new ways of working has become more pronounced than ever. How can we respond to this paradigm shift without hampering business performance?

We have adopted a hybrid approach that combines flexibility and face-to-face collaboration. This requires appropriate tools and clear communication about mutual expectations.

At the same time, how can we meet the challenge of employee commitment, which studies show is falling?

To strengthen commitment, we rely on a culture of proximity, regular feedback and initiatives focused on the meaning of work. We also measure our employees' level of commitment via internal surveys followed by concrete action plans.

Employment law

What is your view of the employment rulebook? As it stands, do you see the Luxembourg Labour Code as a partner for employers? Or, on the contrary, something of an adversary?

The Luxembourg Labour Code is a structuring framework, but certain provisions lack flexibility in the face of current challenges, such as cross-border teleworking.

Same exercise in fiction as before... If you had the power, what additional provision would you like to introduce into Luxembourg law to meet your needs more effectively?

At the risk of repeating myself, I would introduce more fluid regulations to allow greater international teleworking, while clarifying tax and social obligations.

Digitalisation

How are you transforming digitalisation into an ally of the HR function?

Innovation is a core value of the bourse. We are using digitisation to automate certain administrative tasks and strengthen HR data analysis. This frees up time for strategic actions. We are also very aware of what artificial intelligence can do for us, and in fact trained all our staff in this area in 2024.

What obstacles do you still face at this stage?

The main challenges are still the integration of complex systems, and I would say that the main challenge is supporting our teams through the change.

Benefits

How important is salary attractiveness today in recruiting and retaining talent?

Salary attractiveness remains an important criterion, but it's no longer enough on its own. Candidates' expectations are evolving towards a search for meaning, and they are also very sensitive to the employer's values.

In addition to remuneration, what other factors should be taken into account to make a job more attractive?

We are putting a lot of emphasis on inclusion and diversity, flexibility, CSR initiatives and personal development programmes, which are becoming major differentiators. Our relatively modest size allows us a certain degree of agility in these areas.

Mobility

A fleet of electric vehicles, incentives to use public transport... In your company, what measures have been, are, or will be taken in terms of mobility?

Our mobility policy is resolutely geared towards electric vehicles, whether cars or bicycles. Our car park is equipped with electric recharging points, which are available to our employees.

More generally, what are the points of vigilance that you are keeping in mind in terms of the green transition?

The Luxembourg Stock Exchange is obviously a pioneer in these areas, through the Luxembourg Green Exchange, founded in 2016. The green transition requires constant attention to the balance between environmental impact, operating costs and employee support.

CSR

What are the biggest challenges for your organisation in terms of the new CSR obligations?

The new CSR obligations require us to adapt our practices quickly and raise awareness among all our stakeholders. Their implementation requires an alignment between our strategic objectives, our available resources and the expectations of regulators.

How do these same obligations impact your internal upskilling and external recruitment processes?

They also mean that we need to strengthen our in-house skills and increase our search for specialist profiles, particularly in ESG. Our LGX Academy is setting up training programmes to integrate sustainability issues.

Gen Z

They are said to be less committed, more demanding, and perhaps even difficult to grasp... Is Gen Z really turning the working environment upside down?

Gen Z is redefining expectations, with a quest for meaning and a demand for greater flexibility. This is forcing us to adapt our methods of communication and management, while rethinking career paths to better meet their aspirations, which are emerging ever more quickly.

What advice would you give to newly recruited 25-30 year olds?

My advice: dare to ask questions, take the initiative, and invest in continuous learning to develop your talents. And don't hesitate to share your own skills with the more senior members of the company.

Diversity, equity and inclusion

As an HR director, how would you define your role and responsibilities with regard to DEI issues?

As HR director, my role is to ensure that our practices integrate and value diversity, while creating an inclusive and equitable working environment. Joining initiatives such as the Women in Finance Charter reinforces our commitment.

Is the 'exemplary' company a utopia or a feasible objective?

The exemplary company is an attainable goal if the commitment is constant, sincere and supported at all levels. It requires regular assessment of our practices, corrections where necessary and an ability to evolve with societal expectations.

Read the original French-language version of this interview /