Chief Human Resources Officers (CHRO’s) are in demand around the globe. Over the last decade, the CHRO has been thrust into the centre stage and plays a central role in the success of an organization. This change has been brought about by fast-paced changes in the operating environment and digitization of the global economy.
Prof Ram Charan, a world renowned author on Human Resources and Business Management shared his views on how a CHRO can develop his capacities to meet the challenges of an evolving economy. Given below are eight salient points that he advised CHRO’s to focus on at the NHRD Network Conference:-
1. Develop Expertise’s On Judging People and situations. Ability to predict and anticipate the future can make you a valuable asset to your organization.
2. Practice Business Diagnosis – This is not about profit and loss. It is common sense that accumulates over time and is not just about metrics. A hands on CHRO will not face any difficulty in making a business diagnosis.
3. Learn to Connect Numbers and People – In a world of Big Data, it pays to know your analytics and tools.
4. Mastering Externals – Connecting with the CEO and other colleagues. Maintaining good all round relationships is essential for a successful CHRO’s.
5. Link yourself with the goals of the company, priorities, concerns. Digitization is taking place at a rapid pace and CHRO’s need to prepare for this.
6. Build a new HR Talent Pipeline. Don’t wait until there is a vacancy.
7. Split HR – Read prof Ram Charan’s recommendations on this HBR article.
8. HRI’s , Systems, Performance systems and others – Develop robust systems that can withstand shocks and can scale up.
Reallocation, reassigning numbers. Don’t be afraid of numbers but common sense is more important than numbers. Never be afraid to ask questions?