A few years ago, Chief Human Resource Officers, or as frequently referred to as CHRO, existed at a handful of companies. That too at enterprises or conglomerates. In the past few years, medium-size companies have started to bring CHROs on board. This change in the structure among c-suite executives is visible at many companies.
Why is this changing?
A simple reason is – changing workforce dynamics. The increasing number of millennials in the workforce, demand for inclusivity & diversity, and growth amid ever-fledgling economy have put pressure on c-suite executives to bring someone who can manage a workforce and drive change that meets business interest. Additionally, technology and data-driven human resource processes to increase productivity have put insurmountable pressure on business leaders to hire someone who can implement and execute human resource operations effectively.
Thus, companies are looking at hiring Chief Human Resource Officers.
These c-level executives accompany CEOs and other senior-level managers and board members in strategic human capital planning, as per the interest of business and requirements of contemporary workplace settings. A CHRO is tasked to effectively manage recruitment, performance management, and employee training and development.
Today, efficient chief human resource officers are expected to —
- Embrace digital economy – Digitalization has improved productivity. Moving away from manual processes, companies are moving to technology for all human resource-related processes. CHROs need to adapt to this change and drive reforms accordingly.
- Be a strategic partner – Human resources is not just an administrative function anymore. Companies are looking for CHROs who can think strategically in planning and impact the bottom line of the company.
- Be a harbinger of change – As the workforce is constantly evolving, it is the responsibility of the CHRO to manage this change effectively without hampering organizational productivity.
- Promote inclusivity & diversity – Inclusive & diverse workforce is the need today. Human resource leaders are required to implement employee policies that promote inclusivity and diversity at workplaces. Recent cases of sexual harassment, sexism, and race discrimination at workplaces have brought glaring attention to fractured employee policies in the corporate. Business leaders want managers who can devise policies that stand strong in such situations.
- Drive data-based approaches – CHROs today are expected to collect data on employees and derive insights. Workforce analytics is a growing in-demand skill as part of human resource management.
So far human resources have been taken as a mere function in an organization. Steadily, it is being recognized as a cog in a bigger wheel required to run corporate. To keep up with the changing trends in the workplace, CHROs have to evolve. This evolution is not merely switching to technology-driven approaches, but also understanding the psychology of millennial workforce, their aspirations, motivations, and goals and devising workplace policies that bring the best out of them and improves their productivity.
In summary, human resources professionals looking to further grow in their careers will have to unlearn the strategies that worked well with their team and relearn the art of people management. In a nutshell, the workforce is evolving, CHROs need to up their game too.
