Talent Architect/Strategist Role of the CHRO and the HR Function
In this video, Tom describes numerous changes afoot in the world of business. More specifically, he outlines the changing nature of Human Resources and the requisite knowledge, skills and competencies associated with that change.
Organizations of all sizes are looking for growth opportunities. A top concern identified by CEOs in the Economist survey conducted in 2012 is insufficient talent within the organization as a whole. And, specifically, insufficient creative leadership talent.
To build on this, in a global IBM study of CHROs, respondents identified gaps in 3 key areas. Rapidly developing workforce skills and capabilities. Fostering collaboration, and knowledge sharing, and developing future leaders.
As evidence, one only needs to listen to the responses of HR leaders during an interview about leadership. One HR leader interviewed shared that leaders are in high demand, but are hard to find. Another stated that in their organization, we have strong managers, not leaders. And we need strong leaders to achieve our objectives.
To validate these opinions, in the global IBM study of HR leaders, 60 percent of the respondents identified creativity as the most important leadership quality.
Additionally, according to research conducted by Monks and Lajoux, 80 percent of the market value of S & P 500 companies come from things like strength of the brand. The quality and depth of leaders and workers. And the quality of stakeholder relationships such as employees, customers, suppliers, investors, and the communities it operates within.
In summary, I would argue that all of these findings, when polled together, support the recognition among CEOs discussed in the conference board's 2014 global survey of CEOs, that human capital is the engine of the enterprise. Human capital can be best described as the knowledge, skills, competencies, and other attributes required by an organization's workforce to be productive and competitive.
All of these surveys and data points, when polled together, create a foundational idea that the talent architect/strategy role of the CHRO is mission critical to the success of any organization. That this type of creative leadership, when effectively implemented to lead a team, provides an opportunity for the entire HR function to contribute to the growth and success of the organization and add value to every department of the enterprise.
To accomplish this, I argue that it will be necessary to transform and re-imagine the CHRO role and the HR function.
So if the talent architect's strategist role is really the way to make a long term difference in business, let's consider what it means to serve as this type of leader for your organization. What is different than the more traditional roles that often plague the HR department?
In short, this shift in perspective involves focusing on high impact activities and strategies that deliver measurable results to the top and bottom lines of the firm. We can accomplish this by emphasizing how we can imagine and develop the human capital critical to the present and future successes of the firm. This includes protecting and growing the intellectual capital of the firm represented by our talent. And from my experience, for organizations to thrive in a hypercompetitive, ever-changing, global business landscape - in other words, a VUCA world - we need to focus on developing leaders and workforces that are agile, resilient, creative, and innovative. And we need to work in environments that leverage people, processes, and systems that are anti-fragile.Hide Transcript
Key Concepts from this Video:
Creativity, Market Value, Human Capital