It’s fairly obvious that CHROs are the strategic business partners of business ownership today. But where do they stand on actual business revenue growth?
Out of the numerous functions and responsibilities that are entrusted to a CHRO and pretty much taken for granted, there is a particular one that often gets a miss. It is that of the business revenue, pretty much the end of the rainbow. But is it possible for a CHRO to impact an organization to such an extent? The more pertinent question probably is, how?
Collaboration – We’re talking real-time collaboration with business teams to drive home value orientation in people practices. Collaboration is mission critical for the distributed workforce architecture of the modern enterprise. Time and money savings, coupled with a centralized employee services platform, translate into real, tangible value addition to the bottom-line of the business.
Competitiveness- The ability of a CHRO to influence the intangibles of the workforce and transform them into real, specific tangibles are probably the biggest impact areas of the CHRO. Engaged employees, spurred on by superior capabilities, skills, and the competitive spirit, the motivation and loyalty to beat their market competitors, add more value to the topline of a business than most other business assets can. And the High Impact CHRO is the mainstay of every single one of these facets. Every single one.
Concurrence – The CHRO of today’s corporate world is concurrent to the vision and mission of the business ownership as much as they are to the analyst’s quarterly projections and the organization’s social media followers. It may sound like part PR, part Stakeholder Communication, and part brand management, but it is just where the high impact, functionally unified HR leadership is headed. The onus is on them to ensure every stakeholder is on the same page.
Being a CHRO is vastly different today than it was probably even just a few years ago. The global socio-economic dynamics are rapidly changing, and the corporate world too, as a result. The HR leader of today has an edge if they are focused on positive business impact. Tomorrow, however, it will be a survival skill.