Leadership Lessons with…Jack Gutt, EVP, Head of Communications & Outreach, Federal Reserve Bank of New York

Leadership Lessons with…Jack Gutt, EVP, Head of Communications & Outreach, Federal Reserve Bank of New York

In 2023, communications professionals serve as trusted advisors, while leaders need adaptability and empathy to navigate uncertainty. We spoke with Jack Gutt, the Executive Vice President, Head of Communications and Outreach at Federal Reserve Bank of New York who highlighted the role of communications professionals as trusted advisors and emphasized the need for adaptable leaders in navigating uncertainty, meeting evolving employee demands, and implementing effective ESG strategies.

Take a look.

What do you see as the key role of a communications professional in 2023?

The role of a communications professional is first and foremost that of a trusted advisor and truth teller. The value we bring is in our objectivity and understanding of the broad environment.

What do you think are the key qualities needed from leaders in 2023?

Objectivity, calmness, adaptability, empathy and of course expertise.

What challenges do you think leaders face in 2023?

We are operating in an environment of uncertainty. Whether it’s economic, socio-political or cultural, things are evolving quickly and radically, and most significantly in a non-linear manner.

What do you think is the future of office working/what can leaders do to develop company culture in a remote or hybrid working world?

This is a challenge we all face. The benefits for employee morale and tactical productivity of being able to work remotely are undeniable. The challenge is in making sure that time spent in person is maximized for acculturation, creativity and innovation. We need to find the right balance and be deliberate.

Employees’ demands are changing beyond salary and benefits. What changes are you seeing and how can leaders meet these evolving employee demands?

I think employees value purpose, culture and a feeling of belonging. I am not convinced that this is new but rather it may take on a different manifestation with each new generation. To me the approach stays the same: make sure people have the ability to do their best work and that the work is meaningful. And create an open and supportive culture.

With an increasing focus on workplace mental health, how have you seen the industry supporting the wellbeing of its employees?

That is certainly a change. And I think it is significant that the conversation is taking place. It’s easy for those of us that have been in the industry for some time, to justify the 80-hour work week as a rite of passage, but we have to recognize that just because that’s what we did doesn’t make it ideal.

What skills sets do you think businesses within corporate communications will be looking for now and in the coming years?

I go back to where I started. Objectivity, a broad perspective, the ability to empathize and relate to a broad range of stakeholders, and the ability to remain calm and flexible.

There is increasing expectation on companies and CEO to lead on sustainability practice in line with 2030 Global Goals. What ESG strategies can leaders adopt to help move forward with this agenda? Are you seeing any impact on these effects with a potential downturn?

There are increasingly contradictory pressures on ESG goals and initiatives that will be challenging for the industry.