Paving the way for CHROs to thrive in the future
With the rapid transformation in the world of people and work, a significant trend that has been witnessed is the changing skill demands. As a result, the skilling agenda of organizations has become a key facet garnering much attention from HR leaders. It is a crucial road map to enabling both employees and leaders to thrive in the hybrid workplace and keep up with the dynamic skilling needs. Gartner’s 2022 HR Priorities Survey revealed that 59 percent of HR leaders prioritize building critical skills and competencies. When it comes to organizational priorities for 2022, operational excellence tops with 66 percent of HR leaders emphasizing it followed by business excellence, which comes at a close 65 percent.
Building both operational and business excellence requires HR leaders to stay ahead of the game. This requires them to upskill themselves as well as keep pace with the digital transformations of the hybrid workplace. The key areas of upskilling that leaders must invest in are data analytics, organizational culture, and talent management while effectively and efficiently strategizing for the new normal.
Navigating the world of data
Building business excellence requires tech-savvy leadership. Mckinsey’s survey found that organizations with digitally empowered leadership outperformed their peers in their ability to build top-performing tech endowments. This is in line with the urgency to turn digital and keep pace with the rapidly transforming digital landscape.
One of the key investments that HR leaders have made is setting up digital platforms transition to a virtual and now hybrid work model. Given the vast amount of data available on various fronts — from hiring to skilling to well-being programs — it is imperative for leaders to be experienced in drawing actionable insights. Fluency in people analytics is critical to thrive in the new normal and fix any loopholes that may be present in ongoing digital programs.
Reinforcing organizational culture
Culture is indeed a critical driver in the organization, and it has to expand beyond daily responsibilities. In the absence of a physical workplace, it is difficult to ensure that the values of the organization are instilled and continued. Culture is a workforce experience that drives engagement, enhances well-being, and permeates a sense of belonging to the organization as well as with each other.
HR leaders now more than ever have to navigate this new workplace and engage in strategies that will enable every employee to understand the organization’s culture and leverage that to excel in and enjoy their work as well as find meaning in it.
Strategizing for talent management
No longer do recruiters find geographical barriers in the hunt for the best talent. With a widening talent pool, HR leaders must have clarity on the roles that are required for the organization. Talent acquisition is only the beginning. Along with aiding recruiters in the hiring process, retaining and upskilling talent within the organization are important endeavors. This requires encouraging and enabling a culture of continuous learning. And it is HR leaders who have to initiate this journey before approaching learning and development professionals. It requires foresight on the changing skilling needs as well as clarity on business goals.
Thriving in the future of work
The HR leader’s roles and responsibilities are continuously evolving. While they must prioritize building innovative strategies, they must also engage in a continuous learning process.
In light of the urgent and significant role that HR leaders are starting to play to drive operational and business excellence, the Wharton Executive Education Chief Human Resources Officer (CHRO) Program is a welcome opportunity. It empowers HR leaders to deliver on their responsibilities with greater efficiency and builds upon their foundational knowledge to thrive in the unprecedented future of work.
The challenges that the future may yield in building an excellent workplace may be unforeseen, but the need of the hour is to level up on critical skills and competencies to deliver actionable results for the present and ease one’s way into the future. A program that enables this journey of building a better workplace, achieving business goals, and preparing oneself for the future is a viable investment. To learn more about the program and how it can help you become a future-ready HR leader, click here.