The Essential Capabilities of a 21st Century CHRO
Change is clearly a dominant theme in the 21st century. With modern trends like the digital revolution, globalization, talent shortages, greater workforce mobility, and a multigenerational workforce, long-established business models are facing disruption on many different fronts, and companies seeking to maintain competitive advantage must be more agile and flexible than ever before.
One of the keys to business success in today’s volatile economic environment is attracting and retaining the best talent. As such, industry leading organizations are recognizing the importance of the role of HR leaders to their continued success. Once known for simply managing traditional personnel and administrative tasks, roles for Chief Human Resources Officers (CHROs) are evolving beyond siloed people initiatives.
The success of a company’s efforts to attract and retain key personnel is directly linked to business success and profitability. As a result, many organizations are now asking their CHROs to work directly with the executive team to create a talent strategy that aligns with the company’s business goals. Modern CHROs have become key strategic business partners with CEOs and CFOs and work to create effective strategies for a dynamic workplace environment that involves constant change.
The role of a 21st century CHRO has expanded dramatically in terms of complexity, corporate impact and breadth of responsibility. In order to succeed in this expanded role, CHROs must have a diverse set of skills and knowledge that spans different disciplines and industries. In this blog, we will discuss the scope of work of a modern CHRO, along with some of the essential qualities that are necessary for success in this expanded position.
[Read More]
