With uncertainty in the marketplace and the ongoing disruptions of COVID, social unrest, global conflict, and fears of recession mounting, HR issues are getting increased attention at most organizations. The role of the CHRO, already a complex balance between employee needs and business objectives, has become even more complicated with the rise of remote and hybrid work, DEI and ESG adherence, and an increased demand for wellbeing support from a global workforce. Now more than ever, the role of HR has become business critical. CHROs are tasked with leading the way on how we work, where we work, and how we stay connected.

To learn more, Executive Networks interviewed and surveyed 112 Chief Human Resource Officers from Global 1000 organizations, to get their take on how their roles have evolved, and what the future holds. meQ was honored to support this important research initiative. The results are available in the new research report, Global CHRO of the Future. This report uncovers 7 trends that can help HR leaders create a new vision and purpose for today’s challenges. Below are some highlights from the full report.

 

An increased focus on HR

Future of work issues have become a business imperative, as more and more boards of directors are placing HR issues on their agendas to anticipate expanding expectations of employers. According to the 2022 Edelman Trust Barometer, employees are expecting businesses to tackle issues such as climate change, income inequality, and worker re-skilling.

More than half of the CHRO respondents said engagements with their fiduciary boards have “substantially increased” since the beginning of 2020, and nearly 3 in 4 said their boards are “more involved in HR matters than they were 24 months ago.”

This trend makes it more important than ever to enter such conversations armed with the data and analytics you need to prove the efficacy of your programs – and your spend.

 

The struggle to retain not just talent, but the right talent

With virtually every sector of the economy facing higher-than-normal inflation, some employers are facing pressure to raise salaries, while others are starting to lay off employees amid concerns of a recession. As organizations tighten their belts, retaining top talent becomes even more important. 83% of CHROs report facing a significant talent retention problem for in-demand skills. The top factors leading to increased voluntary turnover include stress and employee burnout, lack of visibility into career development, work life balance issues, and compensation.

Building resilience in individual employees and developing managers to lead their teams with empathy will reduce burnout, improve retention, and increase productivity across your organization.

In the full report, you’ll learn:

  • How top CHROs are dealing with retention problems and handling remote work challenges
  • Their 5 key strategic priorities, and the new skill sets demanded of HR
  • How they’re balancing new and increasingly complex human workplace initiatives such as DEI and ESG

The workplace, and the role of the CHRO, are forever changed. Leading companies to a successful future means creating the right guiding principles for successful work models, and staying ahead of unique challenges. The role of the CHRO remains pivotal in helping organizations and their people rise with resilience in the face of uncertainty.

Download the Global CHRO of the Future Research Report

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