Key Insights on Operating as a World-Class CHRO
Explore the crucial role of a Chief Human Resources Officer (CHRO) in driving business results, shaping culture, and fostering strategic partnerships. Learn about the responsibilities, time allocation, and board activities of top CHROs, illustrated with real-world examples and expert perspectives.
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NAHR CHRO Academy: Role of the CHRO Tracy Keogh| CPO and Growth Partner, Great Hill Partners; Former CHRO, HP Bill Allen| Senior Partner, CEO.Works; Former CHRO, Macys Inc. Patrick Wright | Professor, University of South Carolina NAHR CHRO Academy XXI June 8, 2022 Session 2
Model Of A World-Class CHRO 1.0 DRIVE BUSINESS RESULTS Drive Business Results Board s Leader of Human Capital Driver of Culture and Purpose Creator of Talent Strategy Enterprise Change Leader Trusted Advisor and Coach Link Purpose to Culture Advise and Coach the CEO Challenge the Status Quo Plan and Support CEO Succession Ensure Critical Role Staffing Measure and Communicate the Culture Maximize Senior Team Effectiveness Plan Strategic Enterprise Changes Build Shareholder-Supported Executive Compensation Design Talent Management Processes Hold Leadership Accountable for the Culture Promise Coach and Develop Key Enterprise Talent Manage Stakeholders and Advocate for Employees Surface and Respond to External Trends Direct Strategic Workforce Planning Business Strategy Development Shape and influence business strategy, and partner with executive peers to move the organization forward. Business Acumen Understand the business model, financials, external markets, and customers. Functional Business Leader Create a future-focused, financially disciplined team to run the HR function. Confidential. Not to be copied, distributed, or reproduced without prior approval. 2
Time Spent in Various CHRO Roles HR Function Leader 21% 2021 2020 Strategic Advisor 19% 2019 2018 Talent Architect 17% 2017 Counselor/Confidante/Coach 15% Board Liaison 11% Workforce Sensor 9% Firm Representative 5% 0% 5% 10% 15% 20% 25% Confidential. Not to be copied, distributed, or reproduced without prior approval.
Time Spent by CHRO in Board Activities 37% Executive Pay 2021 18% CEO Succession 2020 2019 16% Executive Succession 2018 2017 Ethics/Compliance/Governance 8% 5% Risk Management 4% Executive Performance 3% CEO Performance 8%* Other 0% 10% 20% 30% 40% 50% * DEI (13/33), Culture, Talent/People Strategy, Engagement Confidential. Not to be copied, distributed, or reproduced without prior approval.
Operating as a World-Class CHRO Discussion Confidential. Not to be copied, distributed, or reproduced without prior approval. 5
Summary - Executing as a World-Class CHRO Understand the World Class CHRO Model Self-assess your development needs and focus on continuous improvement. MODEL Elevate Your Business Acumen Understand your income statement. Know your business inside and out. Connect HR work to the P&L and to shareholder/stakeholder value. ACUMEN Participate in Business Unit Strategic Plan Development Strategy is about making choices and modeling and remediating consequences. STRATEGY Become Purpose Driven Know your purpose in your current role. Most important phrase: We will PURPOSE Lead with Courage Courage flows from your purpose, but you must believe you are fighting for something bigger than you, and not attained without substantial risk. COURAGE Confidential. Not to be copied, distributed, or reproduced without prior approval. 6
