The role of Human resources has been modified over the years and so has the function of the Chief Human Resources Officer. From struggling to acquire a seat at the table to becoming an essential part of the executive team, the CHRO has faced extreme challenges to reach where it is today.
The role of a Chief Human Resources officer has progressed to an extent that it has come at par with the CEO along with the CFO. These three leaders are the heart and soul of a business taking it forward with their skills and wit. As it’s the CEO who fabricates the business strategy and leads it, the CFO manages the investments and financial resources, while, the CHRO acts as a voice for putting forward people’s agendas and directs their energies towards achieving the overall objectives of the firm. So basically, an organization incomplete without the contribution of these three heads.
However, one role that has gone under the most vigorous phase of transformation is of the Chief of Human Resources and there is a plethora of factors contributing to the that – technological progression, automation, alterations in the profiles of the workers, changing methodologies of working and an enhanced focus on attracting the best talent. Therefore, you can say that the CHRO profile has shifted from being a conventional HR professional sticking to his/her duties to a full-fledged business leader targeting and tackling with each and every area of the organization.
Today, a CHRO is a change agent alongside a culture sustainer, they are powerful as well as supportive, moreover, they hold a deep knowledge of the human resources function along with being commercially aware owning a clear understanding of technology. There is a plethora of responsibilities carried by a CHRO and he/she is supposed to retain a number of skills mentioned below.
1. Strategic psyche alongside business acuity
A Chief Human Resources Officer is required to be discerning, open-minded, future-oriented along with the ability to make fact-based decisions. They are expected to build a solid people plan that is not just limited to the needs of the human resources, but, should also be aligned with the comprehensive objectives of the company.
2. Change as well as transformation management
The Chief of Human Resources plays a huge role in defining corporate strategies, procedures, structures along with technologies to tackle alterations in external surroundings and the business environment. Steering change management requires a company to welcome learning agility as well as creativity as a culture. A CHRO is expected to incorporate this agility by becoming the catalyst for transformation.
3. The expertise of structuring fair compensation plans
Problems related to pay equality are gaining prominence all over the market and Chief human resources officers have to play a primary role in constructing equitable compensation together with incentive structures in order to entice and retain top talent. The duty of the CHRO is to constantly check internal remuneration structures against the marketplace, look for potential gaps and rectify them.