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4 reason companies need a CHRO

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Demand for distinct culture is increasing among companies. Every organization is looking to build a company culture that fosters learning among employees, motivates employees to push their limits, and overall increase company’s bottom line. In order to achieve this, business leaders are steadily moving to rely on CHROs. These senior executives accompany CEOs in decision making and have turned out trusted advisors to them.

Here are some prominent reasons companies benefit from CHROs, or chief human resource officers.

  1. Propagate fairness across organization

Today workforce moving towards more diversification and inclusivity. Companies are willing to join in and keep themselves open to employees from all races, sex, nationalities, and color, as long as it helps companies might their business objectives.  However, differences among people can hamper to achieve this objective.

Further, it is also important to compensate employees fairly. According to a report from Payscale’s 2017 report, which surveyed 7,700 employees found that 44 percent of employers feel that they pay employees fairly, however only 20 percent employees agree to it.

  1. Maintain civility across organization
    In a global survey conducted by Mckinsey & Co, the company found out that around 62 percent of employees were treated rudely at least once in a month. This number has been increasing consistently, which means managers are becoming rude towards their employees.

This lack of civility can cost companies a lot of money for multiple reasons—employee leaving work because of manager’s constant rude behavior, time and effort invested in conflict resolution, and building a bad rep among other employees.

Disgruntled employees don’t perform well and propagate ideas of harassment and bad work culture, in turn keeping good talent away from joining company.

Chief human resource officers have the responsibility to build practices around maintaining civility in the workplace.

 

  1. Well-being of employees
    The amount of time spent at work has increased considerably in the last few years. From 38.1 hours a week, in 1980, to 38.7 hours a week, in 2019, employees are spending more time at work. Why is this important? This much amount of time at work easily bereft employees of their personal time. So well-being of employees is an important matter of concern here.

CHROs have to come up with strategic plans to facilitate easiness among employees for them to talk about their professional as well as professional problems. This will ensure their overall well-being and health.

 

  1. Promote technology

Company leaders today expect CHROs to be strategic managers, who can assess talent capabilities required to meet business strategy and achieve growth objectives.

This further raises the question: Are CHROs aware of the HR tools and technologies which can help to achieve strategic goals? In a poll conducted by Harvard Business Review, among 300 executives, it came out that executives understand the importance of technology to achieve strategic goals. Cloud-based employee management systems, learning tools, workforce analytics etc. are popular tools.

 

 

 

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