The role of CHROs is increasingly becoming important as companies recognize that people are the most important resource. At the same time, the expectations of CEOs from their CHROs is also rising from the position of a mid-level staff limited to employee administration and transactions. In today’s hyper-competitive business environment, there is a new sense of urgency to fill job vacancies quickly and minimize hiring mistakes. Finding and developing the right talent for the right job remains a challenge.
“CEOs are interested in revenue growth, profitability, innovation and the ability to retain customers. They are interested in business issues and talent issues, but not HR issues.”
- Jeff Schwartz, Principal - Deloitte Consulting & Co-leader for Deloitte’s global talent initiative.
The above observation underlines the new expectations of CEOs from CHROs.
Apart from the routine operations, today, CEOs expect their CHROs to -
Help build agility in the organization culture to move quickly within market spaces.
Play essential role in keeping their company competitive and especially help save costs.
Proactively track new technologies and implement them at strategic levels to ensure organizational competency.
Attract, develop and retain high-value individuals who are necessary to protect market positions while aggressively supporting rapid profitable growth.
Not surprisingly, these expectations are not limited to C-Level executives in HR. The HR function has moved to the board-level visibility. The CHRO is held to these same levels of performance and dynamic leadership in terms of how he/she leverages talent, culture and costs for revenue.
Contextual intelligence technology can make a huge difference to CHROs when applied to the human capital supply chain. Given the fact that HR data is huge and also the most unstructured, thereby mostly unused it is all the more imperative that CHROs employ intelligent technology to harness HR data and make more sense out of this latent data in today’s digital age.
Contextual analytics of talent data provides unprecedented insights and in-depth understanding in actionable areas such as talent sourcing, development, planning, deployment, management and monitoring. Since contextual technology gives accurate results, it empowers the CHROs with valuable knowledge to make realistic data-driven recommendations which could be used by the CEOs to make more impactful decisions.
CHROs can make strategic contributions in the areas of talent strategy by identifying gaps, potential candidates for leadership roles and options for cost savings with insightful contextual analytics of their talent data.
CHROs can advise CEOs on efficient investment ideas vis-à-vis existing skills data of talent pool and the best possible future course.
CHROs can definitely help impact bottom line by increasing revenue/employee with contextual talent analytics.
CHROs can align talent to business goals and decisions by customizing L&D, getting more relevant candidates, increasing employee retention and optimizing talent to help fulfil organizational direction.