Deloitte seems to have hit upon a new and emerging change in the Human Resource function. In a report released recently, Deloitte defines the changing role and examines the most important responsibilities this new Human Resource manager will fulfill.
The Human Resource Administrator will soon become the Chief Human Resources Officer, holding a position often as important as that of the CEO and CFO. Thanks to the increased demand for talent, and the seeming lack thereof, the Chief Human Resources Officer or CHRO, will become an increasingly important role.
The evolution of the CHRO is occurring in the business sector today simply because of the fact that the human issues of talent and capability, compensation, health care costs, and pension programs demand an aggressive strategy. The need for corroboration between the CFO, CEO, and CHRO as a combined effort to address, plan, and implement successful and profitable business strategy has reached a critical level.
The role of the CHRO, according to this forward thinking report from Deloitte would be divided into four major categories: Workforce strategist, organizational and performance conductor, HR Service Delivery Owner, and Compliance and Government Regulator. Simply naming the major areas of responsibility gives us some indication of the unbelievable changes occurring in the management of the human asset.
Perhaps the most important of the four defined responsibilities lies in the Workforce Strategist role. As business strategy and overall performance are more closely linked to the business workforce, the CHRO must now play a much larger role in the development and implementation of strategies that capitalize on global labor trends, available talent, and technological advances.
As the evolving role of the employee and the company's workforce continues to play an increasingly important place in the success of the company, the CHRO will continue to hold an elevated status as a business peer of the CFO and CEO.
