As the world continues to deal with the COVID-19 pandemic and the simultaneous economic evolution taking place, the dynamic labor market presents a wide array of risks and opportunities for any corporation. Many companies are accelerating the sophistication of their workforce strategies in order to survive the Great Resignation...
HR has tended to interact with the board related to CEO and executive compensation more than anything else.
It starts with the composition of your board.
The trend has been towards the CEO-CHRO relationship tightening, through the last two years especially, as you can't get the work of the company done without people.
In the last couple years, the discussions have expanded dramatically to things like DEIB (diversity, equity, inclusion, belonging).
This happened with technology years ago.
We're way behind on employee journeys and employee-centric thinking and co-creating.
I think that those who are most successful absolutely have to have a level of business acumen that maybe wasn't as necessary before
We've seen adding new approaches to talent management, better integrating recruiting, onboarding, development, executive development and diversity, equity inclusion into a more unified function.
The notion of people growing up in HR forever is something I worry about.
Good CHROs are always thinking about the development and succession of their own people, and so part of that is giving them board exposure.
Having a very current picture of engagement in a very sophisticated way based on the tools that are now available in the moment point of view of where employees are and a number of dimensions, combined with transparency, I would say is, is the main way [to develop analytical capabilities].
On the different boards I'm on, we're seeing a lot of attention being paid to metrics.
I think there's a lack of real understanding of how critical people are.
As a director, I can't possibly know what our management team knows about the individuals [on their teams].
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