Boards and Chief Human Resources Officers (CHROs) should support and challenge each other to get the most out of a shifting talent dynamic.
In brief
- The ongoing disruption of recent years has exacerbated the talent crisis. People risks now top the board agenda, prompting CHROs to become even more strategic.
- To stay ahead, human-centric transformation will be key, but EY teams’ research suggests a gap between what employees want and what employers think they want.
- CHROs and boards can overcome challenges by collaborating to enhance the CHRO role, get talent governance right and create a human-centered culture.
As disruption is now a modern-day constant, organizations across all industries must go through wave after wave of transformation – and talent plays an integral part in every challenge they face.
As a result, Chief Human Resources Officers (CHROs) and their equivalents have had to move far beyond traditional human resources territory; to support and advise the CEO on their transformation and growth agenda. But to attract, retain and deploy the best talent, today and into the future, organizations must accept that skilled employees now hold much of the bargaining power.
As ever, boards need to oversee the talent agenda in a way that reflects the current dynamic. That means making sure that talent remains a top business priority and the CHRO maintains their elevated status. It also involves supporting the CHRO in listening to employees and influencing the organization to create a human-centered culture and a more personalized employee experience.
For the third and final article in the series “The Board and the CxO”, we’ve interviewed EY professionals and clients to better understand why the relationship between the board and the CHRO is increasingly important. We’ve then suggested how to enhance this dynamic and ways of working to further unlock the strategic value of the CHRO role. By doing so, organizations can use the current, unprecedented workforce trends to create a competitive advantage, rather than simply mitigating the risks.
courtsey : ey.com
