CHROs are making their lists, checking them twice, and strategizing for ways to maximize engagement, productivity in 2020.
Moving into the new year, HR leaders will be focusing more than ever on driving business outcomes. Their top priorities include building critical skills and competencies, strengthening current and future leadership, incorporating organizational design and change management, driving digital transformation, and enhancing employee experience.
Yet, according to a new survey, only 9% of chief HR officers (CHROs) say they are prepared for the future of work. At the same time, nearly half (46%) report their employees lack the necessary skills to drive future performance. To address these challenges, CHROs will need to partner with business leaders to establish a way to balance emerging, existing, and traditional skill sets. They also will need to work with managers to show employees how they will grow as individuals with in-demand skills development.
Among other insights from the survey:
- CHROs who use complementary leadership say they saw a 60% increase in team performance. This model brings leaders together to share responsibilities based on complementary skill sets.
- 43% of CHROs say their organization lacks a clear, consistent strategy for digital transformation; and about a third (35%) say they have inadequate talent to drive digital transformation. To fill these gaps, CHROs need to become experts in digital business, collaborate with other organizational leaders to address digital goals, leverage talent processes, and deliver functional support.
- 46% of employees express dissatisfaction with their work, so improving the employee experience is essential. Among other efforts, this means reminding employees of positive experiences and reframing their memories about negative ones. This, the survey authors suggest, can potentially improve employee satisfaction by more than 30%, as well as drive increases in workers’ intention to stay.
- 57% of employees encounter significant barriers in their day-to-today work. Some of these are the result of organizational changes, including executive leadership transitions or being moved to a new team or manager. HR leaders should address this by involving employees in change decisions to help reduce their risk of becoming fatigued.
These are not short-term issues, and organizations would be well advised to include these in their five- and 10-year strategic plans.