Human resources have undergone a massive transformation in the last decade. From being an administrative function, HR has become a strategic business function that businesses can’t operate without. From being the eyes and ear of the organizations, HR leaders have come to occupy a chief’s position in the board room, paving way for more innovation and growth of an organization.

HR leaders are no longer bound to traditional roles and responsibilities. They are now driven by the need to accelerate/aid the growth of the organization. Digital transformation is no more a competitive edge for employers, it’s a need for survival. Employers require digital transformation to simply survive the current wave of digitalization or be ready to lose to competitors.

Emerging technologies are not a novel addition for companies. They are a means to increase efficiency, productivity, and drive growth strategy for employers. According to a KPMG report, out of 1200 global HR executives, nearly 39% of HR leaders are harnessing novel technological approaches such as analytics, AI, and digital labor to improve business processes.

The changing role of the CHRO

Today the role of CHRO is more important than ever. Unlike yesteryear, CHROs are now getting recognition from C-suite and are highly valued assets for any company. CHROs are expected to assist businesses in strategic growth decisions related to recruitment, compensation, talent management, performance management, training, employee experience, and more.

Today CHROs are expected to do more than day-to-day activities. They offer their insights on business decisions that shape work culture and defines the future of workplaces. Their experience and feedback are critical to matters that transform business processes, to make them better and effective. CHROs now need to constantly innovate and work on talent strategies to aid in achieving organizational goals.

CHROs are the center of culture and diversity. They are responsible for setting up a workplace that aligns with the core business values and aids in achieving business goals. This requires them to acquire knowledge of designing programs that keep employees engaged, encourage employees to do better, increase the productivity of employees, retain employees by reward and recognition strategy, and ensure inclusivity and diversity at the workplace.

Connecting human labor and digital

Technologies such as machine learning, artificial intelligence, predictive analytics, IoT, are redefining business processes. These technologies have the potential to make processes faster and more efficient. According to the KPMG report, 50% of HR executives are planning to use these technologies in their organization.

Automating repetitive and mundane tasks will free up a lot of time and allow employees to focus on more cognitively –demanding tasks that will aid in the growth of the organization. However, the talent for these technologies is in short supply. HR leaders need to understand the influence and the impact of these technologies on their organization and take measures to upskill employees.

Digital technologies are accelerating development and growth for organizations. New age CHROs understand the impact of integrating technologies and how they impact the business and align their skill development strategy to meet the business goals.

Wrapping up

Over the last decade, moving away from administrative function, human resources has become a critical business function. HR leaders who were merely responsible for the smooth execution of day-to-day administrative tasks, now are responsible for business-impacting decisions. They are key contributors to the growth of an organization. They are enablers of people-oriented strategies that accelerate employee engagement, increase productivity, boost employee morale, speed up career development, and architects of the future of work.

In a nutshell, the role of a CHRO has changed significantly and is expected to change more. To excel as an HR leader, executives need to embrace the change and move swiftly or risk losing business.