Our world is going through a transformation. Old businesses are fading into the horizon while many new ones are arising. Shareholders and board members are looking for a CHRO with the necessary skills to guide a company in a business environment, where the only thing constant is change.
The changes in the business landscape is throwing up new challenges that require a CHRO to have the following characteristics:
- Track Record of Advising the CEO on Leadership Changes with Discretion
A CHRO has to collaborate with the CEO on topline leadership.
- They should have experience in creating the blueprint of the leadership.
- Hiring the right leaders or arranging their exits with discretion.
- HR should not be their only Experience
CHROs should think of themselves as strategy partners. They need to contribute towards the development of the organization-wide business plan and objectives.
- They need to work closely with the CEO in creating the strategy blueprints.
- In order to do this, having experience in a business vertical / horizontal has become a key factor.
- Transformation Experience
Change of pace has been increasing steadily with technology causing rapid changes in our society. Products and services are becoming obsolete in years instead of decades.
- A CHRO must have experience in guiding the transformation of a company in new directions and ensuring leadership / team / business strategy changes to keep up with the pace of changes.
- Experience Working with a Multi-Geographical Global Workforce
Today’s organizations work with people from multiple cultures and even multiple geographical areas. This brings its own set of challenges in creating a cohesive and focused team.
- The CHRO must have an understanding of how to create HR policies that respect laws of the respective countries, but still creating an over-arching culture for the organization as a whole.
- Experience in creating policies must be inclusive of multiple cultures and aid in creating a harmonious and thriving atmosphere for employees, who may work with team members belonging to different cultures and geographical areas.
- Experience in creating blueprints for training and sensitizing a global workforce on working cohesively in cross-cultural teams.
- Experience in Hiring and Retaining Talent for Knowledge-based Jobs
Knowledge based workers have been around for decades. What’s changed? The rate at which one area of knowledge is becoming obsolete and new areas of knowledge and skills are coming up is ever increasing.
- A CHRO must have experience in rapid talent acquisition matching the knowledge requirements to meet organization’s business goals.
- Experience in creating talent retention as well as talent development programs for niche knowledge areas.
- Use of Information and Technology to Arrive at Key Decisions
Today, with technology available on fingertips, a CHRO must be able to take advantage of the information accessible via technology to arrive at smarter decisions.
- The CHRO must have Big Data skills – what data they need as well as tools they want to use to analyze the data for their business objectives.
Reading through these characteristics, one begins to realize that a CHRO cannot be visualized as a mere HR leader – they need to be architects of a company’s success strategy.