16 Aug 2015 / By Vanessa Gavan
Historically, HR has struggled to demonstrate value to the C-suite, but today its ability to add value should be clear. It would be a rare CEO who does not regard people as a major asset or understand how their acquisition, development, and retention are strategically important. Effective talent management is so essential that eight out of ten CEOs say it is the key to competitive success.
However, many CEOs believe their HR teams lack the skills and competencies to meet the challenges of twenty- rst century workforce management and do not see the HR function as demonstrating a return on investment. A 2014 report by Deloitte highlighted ‘improving the skills of the HR function’ as a top talent issue for CEOs, with four out of ten reporting their HR teams were underperforming.
A fundamental shift is required to address the gap between what CEOs need and what HR is providing. It involves rede ning what makes a good HR professional and reviewing HR’s structure, strategies, and practices to bring them up to date with the way the world is evolving. Think strategic, agile, outside in, data savvy, insightful, co-creative, market led, innovative, connected, authentic, and personally invested. These are the words that come to mind when I think about the future of HR.
Wherever your HR department is on the transformation journey, it is essential for every CEO to be supportive, involved, and proactively driving its change…