CHRO Roles in 2020 covers a wide range of the spectrum. The advent of artificial intelligence, expectations of the millennial workforce and intense talent wars have added more complexities to their roles.
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Balamani
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The profile of CHRO has come a long way from that of a conventional HR head to an estimable business leader. Today, the CHRO enjoys a significant place in the boardroom along with the CEO and the CFO. An organisation looks up to the CHRO for being the leader who can enunciate and devise people-specific strategies. The CEO looks up to the CHRO for hiring and retaining the organisation's talent base to gain a competitive advantage. As per a survey of 800 CEOs, this was found to be the number one challenge that concerned these executives globally. At number three came the problem of developing next-generation leaders.
As a result, the responsibilities of a CHRO covers a wide range of the spectrum. The advent of artificial intelligence, expectations of the millennial workforce and intense talent wars have added more complexities to their roles. As we step into a new year, the challenges are going to become even more fierce and will require the CHRO to don multiple hats at a time.
Let's look at how the industry will view a CHRO in 2020.
In today's time, all the decisions made in the board room have a strong backing of data. For instance, whether it is to change the marketing strategy or saving operations costs, no plan is presented to the C-suite leaders without meaningful data. In this scenario, the CHRO will be expected to be comfortable with data. The HR leader will have to go beyond raw pieces of information to deduce crucial action points. The CHRO may even be expected to set a precedent in the HR department about the relevance of data reporting and analysis.
With millennials forming a significant chunk of the workforce, the CHRO will have to relook at the culture and execute changes, if necessary. For instance, a Linkedin survey found that millennials are more keen to know about a company's culture and values. They prefer to read online reviews about an organisation before applying to a job. They value work-life balance and expect flexible working hours at their place of employment. Due to such a distinctive mindset; attracting and retaining them is becoming a challenge. The CHRO will have to drive changes to make the organisation a preferred employer for this talented segment of the workforce.
The west is waking up big time to the pay disparity and unequal growth opportunities between men and women. It also extends to employees belonging to different minority classes. In today's time, employees know their worth and are ready to move on, if not rewarded appropriately. Moreover, such discrimination also puts an organisation's reputation at stake. The HR leader will be expected to play a key role in conceptualising equitable compensation structures for the employees.
The role of a CHRO involves working with multiple stakeholders and even influencing their decisions from time to time. The CHRO, thus, needs to possess a strong business acumen to support her view points. Moreover, the CHRO has to stay updated with what is happening in the external world. Benchmarking the compensation packages and benefits may help considerably in attracting talent.
Automation and AI are here to stay. The CHRO will have to adopt a progressive mindset and embrace this new aspect of HR. AI-powered tools are transforming the world of HR. They are becoming instrumental in giving the function a more strategic direction by managing the transactional aspects of the job. These tools are not only enhancing the HR capabilities but also improving the efficiency and productivity of the department. For instance, Unilever has reduced hiring time by 75% by using screening tools. Some of these tools also help in enhancing the employee experience and their overall engagement levels.
The latest HR initiatives are focussing more on empowering line-managers for engaging employees. The shift has happened partly because of the reason that millennials want more consistent and constructive feedback from their managers. They want to know if they are progressing in the roles and the opportunities available for their growth. Secondly, there is a realisation that line-managers who work closely with their teams have more far more influence than HR managers who sit on different floors. The CHRO will have to implement new initiatives to empower line-managers to have meaningful conversations with their team members.
CHRO's all over the world will enjoy an even more notable place in the boardrooms in 2020. Their roles will demand excellence in multiple aspects of modern-day HR.
Many people would say that it is absolute madness to keep on doing the same thing, time after time, expecting to get a different result or for something different to happen.
Hoover Dam and the Grand Canyon: Book yourself a seat on any of the many sightseeing tours available and go and watch the architectural marvel that is Hoover Dam built over the Grand canyon which is also a grand sight to see by itself. Black Canyon is another must see as is Lake Mead which is so beautiful just because it is a body of water all surrounded by desert-like nature. Colorado River:
While looking at the Dam and Canyon is from above, to see the true beauty of the river, you have to go down. The Colorado river is excellent for river-rafting and water sports, but you do not have to take part if it is not your thing. Instead just sit back and enjoy another of nature’s marvels.
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Who can not resist going to one of the old towns like those in the Western gun slinging movies? Your destination needs to be Old Nevada. There you can delight in an old western town right in the middle of Red Rock Canyon. They host western shootouts too so come prepared, partner! I could go on and on about other attractions like the theme park in Circus Circus, the Gilcrease Nature Sanctuary, the Henderson Bird Viewing Preserve and Mt. Charleston but I think you get the picture. In Las Vegas and hate gambling? Do not despair. Just go out and have some clean un-gambling fun.
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