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TheCHROasagrowthexecutiveFocusingthepowerofdata,techandpeopletoacceleratereinvention—andanewvisionforgrowthWEF2023ThecallforacceleratedchangeContents03Settingsightsonnewgrowth10HowtospotaHigh-ResCHRO15HowtosupportaHigh-ResCHRO19Puttingtheforcesofchangetowork29Areyoureadytojointhe5%?Thewayforward2hFrom2017to2022thelevelofmacroeconomic,social,geopolitical,climate,consumerandtechnologicaldisruptionincreasedby200%.1Andtoday,tightlabormarketsandtalentshortagescontinuebeyondthepandemicasskillgapsremainathighlevels.2Inthisenvironmentitisabundantlyclearthatorganizationsneedtoacceleratechange—notonlytocompetebutalsofindnewpathstogrowth.Accenturehasidentifiedfivekeyforcesofchangethatareessentialtosuccessinthenextdecade:totalenterprisereinvention,talent,sustainability,themetaversecontinuumandtheongoingtechnologyrevolution.ForC-suiteslookingtoforgeahead,theseforcesareshowingtheway.TheCHROasagrowthexecutive3Figure1TopfocusareasidentifiedbyCEOsFigure1TopfocusareasidentifiedbyCEOsfordrivinggrowthinthenextthreeyears(%frequency)today’schallenges:1.Adoptingatotalenterprisereinventionstrategythattransformseverypartofthebusinessthroughtechnology,dataandAI,andnewwaysofworkingAND2.Embracingnewopportunitiestoaccessandcreatetalentandtounlockpeople’spotentialBoldleadershipisrequired,andCEOsaresteppingup.Tospeedtransformationandgrowth,theyarefocusedonleveragingthefullpotentialofDatafromn=570CEOsurveyresponsesdata,technologyandpeople.InDatafromn=570CEOsurveyresponsesattheverytopoftheiragenda.3TheCHROasagrowthexecutive4It’stherightpriority.Accentureresearchhasfoundthatbyactivatingthegrowthcombinationofdata,technologyandpeople,companiesstandtogainapremiumofupto11%ontop-lineproductivity4—theultimatedriverofprofitabilityandrevenuegrowth.It’sthehumanelementthatmakesacriticaldifference:Whencompaniesimplementdataandtechsolutionsthatfailtoputpeopleatthecenter,thepremiumreducestojust4%.That7%gapinproductivityunderscoresthesignificantimpactthatpeoplehaveasanimportantsourceofcompetitivedifferentiationandcontinuousgrowth.Yettherealityisthatjust5%oflarge,globalorganizationsarefollowingthrough.5Theseleadingcompaniessitinthetopquartileoftheirrespectiveindustriesforplacingparallelemphasisonthedigitalcore6andtalentcreationtoachievetheirbusinessgoals.Theyareabletoshapetransformationinwaysthatarepeople-led.711%top-lineproductivitypremiumwhenunlockingthegrowthcombinationofdata,techandpeople4%top-lineproductivitypremiumwhenunlockingdataandtechaloneTheCHROasagrowthexecutive5Whatelsemakesthis5%soeffective?Theanswerliesinthenewskills,redefinedrolesandboundarylessconnectionstakingshapeintheC-suite.Withunprecedentedaccesstodata,enabledbycloudsolutions,executivesarediscoveringpowerfulwaystoleadchangewithintheenterpriseandbeyond.Thenexus:ChiefHumanResourcesOfficers(CHROs).8Withtheskillstheybringandtheimpacttheymakeacrossallpartsofanorganization,anewtypeofCHROissteppinguptoleadtheirC-suitepeersinconnectingdata,technologyandpeopleandcultivatingcollaboration.Indeed,AccenturehasidentifiedhowtheseCHROs,whoarecentraltocreatingthedigitalenterprise,arebringingbusinessgrowthandexceptionalhumanexperiencesintohigherresolution.Theseskilledandconnected“High-Res”CHROsareacceleratingcontinuousreinventionbyfindingnewstreamsofvalueineverycorneroftheorganization.TheCHROasagrowthexecutive6Awarenessisn’ttranslatingintoactionTheimportanceofCHROimpactisgainingattentionfromtopleaders:infact,89%ofthe570CEOswerecentlysurveyedsaythattheCHROshouldhaveacentralroleinensuringlong-termprofitablegrowth.Butonly45%ofthoseCEOs,bytheirownadmission,arecreatingtheconditionsthatallowCHROstoleadbusinessgrowth.ofCEOssaytheirCHROofCEOssaytheirCHROshouldhaveacentralroleinensuringlong-termprofitablegrowththeconditionsthatenableCHROstoleadbusinessgrowthTheCHROasagrowthexecutive7Andwhenwecombinedthosefindingswithresultsfromoursurveyof570CHROs,wefoundthatjust29%ofCHROsareplayingthatrole,havingboththeprofileandtheconditionstheyneedtoactasHigh-ResCHROs.9TheCHROasagrowthexecutive8TheCHROasagrowthexecutive9SeizingtheopportunityBycultivatingtherightskills,connectionsandconditions,organizationscantaptheirCHROstomaximizethegrowthcombinationofdata,technologyandpeople.Throughthisgroundbreakingresearch,weofferalookattheseHigh-ResCHROs,thestrengthstheybringtothetableandthebreakthroughwaystheycanleadandinnovateacrossanorganization. 1001High-ResCHROSystemsthinkingCommunicationInclusion/culturalSystemsthinkingCommunicationInclusion/culturalawarenessBusinessacumenLeadingCHROsOtherCHROsSficiencyscale.ComparedtootherCHROs,leadersareatahigherlevelofproficiencyacrossallskillsmeasuredinourresearch.igureHigh-ResCHROsaremoreproficientthantheirpeersacrossallskillsmeasuredLeadership StvtalmetTechnologyanddataEmotionalintelligence CollaborationTalentengagement Creativity Researchskills Abilitytoexecute FinancialacumenDatafromn=570CHROsurveyresponsesTheCHROasagrowthexecutiveThey’realsomorelikelytobeattheverytoplevelofproficiencyforsixcriticalskillsrelativetootherCHROs:advancedinsystemsthinking,financialacumen,leadership,technologyanddata,strategictalentdevelopment,andbusinessacumen.Figure3SkillsetsSSkillsetsSystemsthinkingtoscoreathighestlevelofproficiency+52%High-ResCHROssynthesizeinternalandexternalcomplexitiesandspotconnectionsholisticallyversusindividually,applyingthoseinsightstoacceleratechangeFinancialacumen+44%applydeepexpertiseonfinancialtopics(e.g.,P&L,financialdata)whenmakingdecisionsandtakingactionLeadershipskills+44%drivestrategicoutcomesthroughaligning,inspiringandmotivatingotherstoworktowardacommongoalTechnologyanddataskills+39%continuouslyevolvetheirunderstandingofwhat’spossibleforthebusiness,peopleandcommunitiesusingtechanddataStrategictalentdevelopment+39%createvibrantcareeropportunitiesbycombiningknowledgeofhowpeoplelearnandgrowwithawarenessoftheskillsandcapabilitiestheorganizationneedstostaycompetitiveBusinessacumen+25%recognizehowtheirbusiness/industryfunctionsandwhatdrivessuccess,whiletranslatingthatintoactionsthatimpactthebottomlineandcreatevalueforBusinessacumen+25%Datafromn=570CHROsurveyresponsesThecombinationoffinancialacumen,businessacumenandsystemsthinkingwillbeparticularlyimportantinthefuture.ItpositionsCHROstooperateasanticipators,drivenbydataandinsights,insteadofasreactors.Today’sHigh-ResCHROsarealready2.3xmorelikelytobeatthetoplevelofproficiencyinthiscombination.Assuch,thisblursthelinesbetweenfrontandbackoffice,enablingthemtoseizeopportunitiesevenbeyondtheirfunction.OurresearchindicatesthatmoreCHROswillbeonthepathtodevelopingthisenviableskillset,astheyarecontinuouslylearning,unlearningandreinventingthemselves.Throughourinterviews10wefoundthatCHROsgloballyarealreadydeepeningtheirexpertise(honingcriticalskillslikedatascienceandanalyticsonthejob)tomeetfuturebusinessneeds.TheconnectionsthatputthoseskillstoworkOurHigh-ResCHROsare4xmorelikelytohavestrongrelationshipsofmutualinfluenceacrosstheentireC-suite,startingwiththeCEOandparticularlywiththeCFO,CTOandCOO.Theyalsobuildnetworksexternallyacrossorganizationsandindustriestoinfluencebroaderchangebeyondtheircompanies.Theresultingcollaborationsenableinnovationtobuildcompetitiveadvantage.Throughtheirrelationshipsanddata-driveninsights,theseCHROsstrengthenorganizationalresilienceandexecutethebusinessstrategy.Infact,ourinterviewshighlightedthatthereisnobusinessstrategywithouttalentstrategy.ThisclearexpectationmustbesetbytheCEO,sharedacrosstheC-suiteandembracedbytheboard.TheCHROasagrowthexecutive1314CASEINPOINT:FERREROThechoco-confectionarycompanyFerrerohasanenviablegrowthstory.Fromsuccessfullyexpandingintonewproductcategoriestorapidlywideningitsgeographicfootprintaroundtheworld(organicallyandthroughacquisitions),thecompany’sstrategicdecisionshavepropelledittoreachin2020/21aconsolidatedturnoverof12.7billionEuro,withanincreaseof3.4%comparedtothepreviousyear’sturnoverof12.3billionEuro.TheFerreroGroupalsocompletedkeyinitiativessuchas:increasinginvestmentinitsiconicbrands,strengtheninginternalR&Dactivitiesand,foranotherconsecutiveyear,investinginimprovingandexpandingitsfactories,plantsandequipment.AspartoftheGroup’scontinuedtechnologicaldevelopmentstrategy,itexpandeditsproductioncapacity.Fueledbydigitaltransformation,prioritizingtheirpeopleandpreservingastrongculture,HRhasbeenessentialtoFerrero’sinnovationandgrowth.ChiefHumanResourcesandOrganizationOfficerGiuseppeAddeziosaysthat“HRhasenteredanewagebecauseofdigitaltransformation,whichischangingtheagendaofcompanies.Itrequiresreskilling,redesigningprocesses,changingtheorganizationalmodelandalwaystakingcareofyourpeoplethroughout.”Ferrero’sintegratedcloud-basedHRsystemsitsattheheartofchange,enhancingtheemployeeexperience,streamliningprocessesandequippingleadersandworkersalikewithimportantdatatoworksmarter.11agiletomeetchangingbusinessneedsFerrero’sRecipeforEmployeeEngagement|Accenture1502High-ResCHROTheCHROasagrowthexecutive16Profilealoneisnotenough.OurresearchshowsthatevenwhenCHROshavetherightskillsandconnections,55%lacktheconditionstoimpactbusinessgrowth.Butwhentheydohaveanoptimalenvironment,theirCEOsaremorethantwiceaslikelytosaytheHRfunctionisexceedingtheirexpectationsintermsofdiscoveringbusinessvaluethroughthecompany’speople.Whatarethekeystocreatingtheseconditions?First,C-suiteleadersmustprioritizetheirpeopleTheyrecognizetalentaskeyforcetodrivechangeandcompetitivedifferentiation.Thiscommitmentstartswithallleaders(notjusttheCHRO)askingasimplequestion—ArepeopleNetBetterOffworkinghere?—andtakingpersonalaccountabilityfortheanswer.BecomingNetBetterOffmeansemployees’fundamentalneedsaremetandtheyfeel:(1)healthyandwell(physically,emotionallyandfinancially)(2)connected,withasenseoftrustandbelonging(3)theirworkhaspurpose(4)theyhavemarketableskillstopursuevibrantcareers.Meetingtheseneedsunlocks2/3ofpeople’spotentialatworkandoffersarevenueboostupwardsof5%eveninunstableeconomictimes.12IfyourpeopleareNetBetterOff:Second,theymustenableboundarylesscollaboration,poweredbydataReinventioncanonlyhappenwhenleadersbreakfreeoftheirsilos—notjusttofindnewwaystoworktogether,buttoexplorenewavenuesforusingdataandtechnologytoleadbroaderchange.17TheCHROasagrowthexecutive18Tofosteranenvironmentinwhichthisispossible,CEOsmustpositionCHROsascentraltothepriorities,processesanddecisionsthatimpactP&Landshapelong-termprofitablegrowth.ThismeansinvolvingtheminareasoutsideofthetypicalHRpurview,suchascapitalallocation,realestatedecisionsandproductinnovation,alongsidetheircoreremittoaccessandcreatetalentandunlockpeople’spotential.1903PuttingtheforcesofchangetoworkTheCHROasagrowthexecutive20HavingtherightprofileandconditionsactivatesaHigh-ResCHROs’abilitytoacceleratechangeanddrivegrowth.Oursurveyanalysisandin-depthinterviewswithCEOsandCHROsgloballyillustratethreekeythingstheydodifferently.Figure4ThreethingsHigh-ResCHROsdodifferentlytoputtheforcesofchangetoworkAccessandcreatetalentininnovativewaysdevelopmenttomeetgrowthobjectivesandbuildtheinfrastructureneededtodelivertherightcapabilitiesattherighttime?Usetechnologytounearthhiddentalentandeliminatebias?EmbracestrategicmanagedservicestoaccessspecializedtalentatspeedandscaleConnectnewdimensionsofdata,technologyandpeopletounlockpotential?Maximizepeople-relateddatatounlocktheirpotentialandachievebusinessoutcomes?Innovatethroughtechnologyandecosystembyleveragingemergingtechnologiesandinnovativepartnerships?AutomatestrategicallybyusingdataasaspringboardformoreeffectiveworkforceplanningandmeaningfulworkLeadreinventionbeyondtheHRfunction?Catalyzechangeandensureallreinventionispeople-ledbydrivingstrategicvalueforbusinessinitiativesthatbenefitfromthepeople/culturelens?Solvesystemicchallengesbyexpandingexternalpartnershipsandinvestments,contributingtocollectiveactionforchangeandleadingcommunityimpactDatafromn=1,140CEOandCHROsurveyresponsesandn=17in-depthinterviewswithCEOsandCHROsTheCHROasagrowthexecutive21High-ResCHROsusedata-led,AI-poweredinsightstounderstandwhichcapabilitiestheirorganizationsneedmost—andwheretofindandattractthepeoplethathavethem.Toachievethis,they:?Enablenext-generationskillsdevelopment:Inacontinuouslydisruptedmarket,theexpertisecompaniesneedtostaycompetitiveisshifting.TopCHROsprioritizeskillingtheorganization’speopletomeetgrowthobjectives,aswellasbuildingtheinfrastructuretodelivertherightcapabilitiesattherighttimeacrossthebusiness.OurHigh-ResCHROsareover2xaslikelytoinvestsignificantlyinskillsdevelopment—andtheyrecognizethattechnologyisanintegralpartofthatprocess.Withthisapproach,theyexpandaccesstonewandmorediversesourcesoftalentandcreatepathwaysforpeople,suchashiringforskillsinsteadofdegreesandofferingapprenticeshipprograms.?Usetechnologytounearthhiddentalent:LeadingCHROsareputtingnewtoolstoworkastheyrevamphiringandrecruitmentpracticesforanewera.TheyareutilizingAItobetterunderstandhowbiasentersthescreeningprocessandlookingtodatatotransformcandidateexperiences.Theyarealsodiscoveringtalentwithintheirownorganizationsandusingtechnologytosupportcreativeandflexibleworkmodels.TheCHROasagrowthexecutive22?Embracestrategicmanagedservices13:UsingstrategicmanagedservicespartnersforHRdeliveryprovidesaccesstotalentatspeedandscaleandtheabilitytoharnessintelligent,cloud-basedplatformsthatenabledata-drivendecision-making.Ourresearchshowsthatleadingorganizations(thetop5%whobesttapthepowerofdata,technologyandpeople)areutilizingmanagedservicesathigherratesthantheirpeers.Notably,theyhavea46%greaterfocusonembeddingmanagedservicesintotheirstrategy,comparedwithcompaniesthatfocusontalentalone.Thepandemichighlightedhowsomeorganizationsusedthissolutiontoshiftlarge-scaleoperationstofullyremotesettingsquicklyandefficiently.Introducingmanagedservicesallowedthemtofocusontheircorebusinessandtheirpeople,whiletakingadvantageofthescaleandindustrializedplatformssuchservicesoffer.TheCHROasagrowthexecutive23CHROINACTIONFrancineKatsoudas,ChiefPeople,PolicyandPurposeOfficeratCisco,thinksofherroleas“beingfocusedonanticipatingmarkettransitionsandunderstandingthebusinessstrategyandhowitlinkswithourpeoplestrategytoaccelerategrowthforthecompany.”It’sarelativelynewapproach,butitreflectstheCiscoC-suite’sevolvingunderstandingofhowpeople,technologyanddatamustcombinetodriveproductivity.AsKatsoudasexplains:“Historically,youwouldhavebusinessdiscussionsandtalktechanddata—andthenyouwouldtalkseparatelyaboutpeople.Nowwe’reunderstandingthatsuccessmeansbraidingthesediscussionstogether.”This“braiding”manifestsitselfinrelationshipsandnewwaysofworkingwithintheexecutiveteam.Toillustrate,KatsoudaspointstoherincreasinglycollaborativepartnershipwithChiefInformationOfficerFletcherPrevin,whichshinesanewlightforbothonhowtechnologycanelevatepeopletodrivegreaterproductivityintheircompany.GivenCisco’sbusiness,andthenetworkedsolutionsthecompanydevelops,theirlearningscanalsoinformthecompany’sclientofferings.KatsoudasnotesthatCisco’sworktounlockemployeepotentialandcreatebetterexperiences—fromrecruitingtoworkforceplanning,toskilldevelopmentandwaysofengaging—isdependentonleaders.“Elevatingleadershipexpectationsandfocusingonlongertermoutcomesiscritical,”shesays.“DataandinsightsfromourHCMcross-enterpriseplatformreinforcetheefficacyofthisapproachandcanhelpcreateefficienciesthatcanbereinvestedtofurtherimprovepeople’sabilitytocollaborateanddelivervalue.”Asaresult,Ciscoisfast-trackingchangeforitspeople,itsbusinessanditscommunities.TheCHROasagrowthexecutive24High-ResCHROsarenearly2xmorelikelytoeffectivelyconnectdata,technologyandpeoplethantheirpeers.Leveragingthisgrowthcombinationistheprimaryacceleratorforimprovedfinancialandnon-financialoutcomes.14Toachievethis,theseCHROs:?Maximizepeople-relateddata:High-ResCHROsbringinsightsthatconnecttalentmoredirectlytobusinessoutcomesandultimatelyunlockpeople’spotential.Theydothisbyspottingproductivitytrends,uncoveringengagementdriversandapplyingpredictiveinsightsfromskillsdatatoproactivelymeetdemandandhelptheirpeoplegrow.Atthesametime,theseCHROsconnectexternalsignalswithenterprisedatathatallowsfasterdecision-making,influenceslong-termstrategyandinformsactionsonbroadersocialissues.?Innovatethroughtechnologyandecosystem:High-ResCHROsknoweverybu

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