With five generations all in one workplace, the workforce of the future will look much different than it does today. As these changes occur, research shows HR leaders are preparing in diverse ways to assume this challenging role.
An Aon Hewitt study finds more than half of of chief human resources officers (CHROs) say they are not career HR professionals. Of these, about one third had no background in HR prior to assuming their current CHRO position.
According to the study, the evolving needs of the business, the volatile economic environment, and the changing face of talent are shaping the selection of CHROs, with diversity in experience a key factor.
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Seventy-three percent of participants have changed their industry at least once in their career. A change in industry leads to an increase in the velocity with which a CHRO aspirant progresses in their career. For example:
- Those who have never changed their industry had an average work experience of 27.5 years, and an average tenure of just four years as CHRO
- Those who have changed their industry more than three times had the highest average tenure as a CHRO, with seven years, and the lowest average work experience (23.3 years)
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The study also finds:
- 66% of participants indicated they had prior board exposure
- 84% highlighted executive compensation experience as a key requirement
- 24% took a rotation or assignment in a line role (outside of HR) to build their business and commercial acumen
- 67% have worked and lived abroad, and/or led global teams and initiatives
- 65% indicated “business knowledge” as a key competency they required, but it was also among the competencies for which they felt least prepared
“CHROs have become critical stakeholders in defining the strategy of a firm, and they are expected to tackle the HR challenges and evolving expectations of a dynamic workplace environment that will consist of constant change, calculated risk taking and evolving expectations from top stakeholders,” says Madeline Avedon, associate partner, HR effectiveness with Aon Hewitt.
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