The IBM Institute for Business Value together with Oxford Economics, interviewed 2,139 Chief Human Resources Officers (CHROs). In 179 face-to-face and 1,960 phone interviews « to better understand how the HR function is evolving. In this report (Incumbents Strike Back / Global C-suite study), we explore how forward-thinking CHROs are responding to crucial changes in the business landscape… »
They found that « four macro trends have emerged:
- market incumbents are rising,
- personalization is taking off,
- platforms are disrupting industries,
- and agile methods are driving innovation. »
« For thirteen years, we’ve surveyed the C-suite on factors that would most impact their organizations going forward. During that time, executives responded that the importance of people skills has fluctuated greatly (see Figure 5). This year, people skills rose from fifth to third place as a force the entire C-suite expects to affect their organizations. Moreover, when asked what could accelerate organizational performance, CEOs rank an investment in people as number one.
Yet while most executives in this latest study agree that investing in talent development is critical, many remain daunted by the challenge. Just one-half of CHROs say that they have the people skills and resources they need to execute the enterprise business strategy. »
Points that caught my eye from this C-Suite study:
- « For CHROs, this means the heat is on. Yet our research shows that only 28 percent expect their enterprise to address changing workforce demographics with new strategies… »
- « Remaking the enterprise […] isn’t a matter of timing but of continuity. What’s required, now more than ever, is the resilience for perpetual reinvention… »
- « It’s a matter of seeking and championing change even when the status quo happens to be working quite well… »
- « Leading organizations excel at two activities: customer co-creation and detailed journey mapping… »
- « Employees now expect experiences at work that are as intuitive as the interactions they demand as consumers. Responsiveness, transparency and authenticity are highly valued in the workplace… »
- « Skills are fast becoming a new competitive currency as organizations compete to secure top talent… »
- « For organizations in search of reinvention, a vision of the future that is shared across the enterprise is a critical first step to mobilize the workforce. Our findings suggest that this is a challenge for many… »
Questions that caught my eye from this C-Suite study:
- « People skills », « talent development »… who do you picture? Who is a top #talent today?
- « Thinking about the business success of your enterprise over the past 3-5 years, what – if anything – has held you back? »
- « How will the enterprise bridge gaps between cultures? »
- « What new workforce skills will be required to engage in new partnerships? »
- « What are the most important external forces that will impact your enterprise in 2–3 years? (select up to five) »
- « Which skills and capabilities business leaders most value for today and tomorrow? »
- « How are organizations responding to the new demands for finding scarce skills and accelerating the learning curve? »
- « What do you believe are the most critical skills required for members of the workforce today? »
- « What are the priorities for change that will enable CHROs to successfully re-imagine HR in support of the overall business transformation? »
- « Is your organization empowered to execute on bold HR strategies? Or are you limited to incremental changes? »
- « Are you challenged by inadequate investments in the foundational systems that enable enterprise change? »
- « Do you have so many competing objectives that people skills don’t make the list of top priorities in your organization? »
Which way to the future in your organization?
Any comment or additional question that you would like to share? Welcome.
More from me on Talent Development and Ethnostratification:
African proverb: « One falsehood spoils a thousand truths. ~Ashanti People of Ghana »
Born in Congo, I am committed to developing more inclusive workplaces. My passion is to enable others to achieve their potential and to advance equity in corporate Brussels.
About eight years ago, a friend told me something like « in my company, they consider me as a high potential. I participated to the annual event of our industry, 500 people – la crème de la crème – and I was the only non-white in the room. A journalist even came to me and discreetly asked « what about upward mobility »? The problem is that in our industry, the majority of the workers at the bottom of the pyramid are non-whites. The higher you go in the hierarchy, the whiter it becomes. »
How to increase racial diversity at the top of corporate Brussels?
What is the diverse makeup or diversity demographics of your team overall? And of your management and board teams?