In addition, members of the CHRO Board discussed issues that were top of mind for them, with each highlighting current business issues they are dealing with. These issues varied, ranging from acquisitions, transitioning ownership, implications of the $15 minimum wage, CEO succession, turnover of executive teams, and developing executive leadership talent to replace retiring Baby Boomers.
Also discussed was a recent University of South Carolina Center for Executive Succession report on the Chief Human Resource Officer role. This report highlighted seven areas of importance for the CHRO:
- Strategic Advisor to the Executive Team (focused on the formulation and implementation of the firm's strategy).
- Counselor/Confidante/Coach to the Executive Team (focused on counseling /coaching executive team members or );
- Liaison to the Board of Directors (preparation for and attendance at board meetings).
- Talent Strategist/Architect (building and identifying the human capital critical to the present and future of the firm).
- Leader of the HR Function (working with HR team members regarding the development, design and delivery of HR services).
- Workforce Sensor (identifying workforce engagement/morale issues and building employee engagement).
- Representative of the Firm (activities involving external stakeholders).
The conclusion of the USC study reinforced what the CHROs experience—that building a relationship of trust with the Board, the CEO, and the Executive Leadership Team is essential for success.
In summary, the HR team in a high-performance organization works collaboratively as part of the bushiness team to solve complex business challenges through the lens of organizational effectiveness. And, to quote i4cp CEO Kevin Oakes:“This is a game changer!”