CHROs have a seat at the table, but they need more support from the C-Suite.
That's the main finding of HiBob's latest European research.
The data was shared exclusively with UNLEASH; here's everything you need to know.
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At UNLEASH World 2023, L’Oréal deputy CEO Barbara Lavernos shared that the CEOs most trusted advisors in the business are no longer the CFO or the CIO, but the CHRO.
Heads of HR now have a seat at the table, and this explains why three in four of the 3,200 EMEA and APAC HR leaders surveyed by HiBob – a headline sponsor of UNLEASH World – said they report into the CEO. This rises to 88% in Benelux and 83% in DACH.
This makes sense as people are company’s biggest asset (and biggest expense) – and it is great to see the C-Suite acknowledging this.
However, HR teams need more support.
According to HiBob’s director of people and culture, Toby Hough, “the most shocking finding from our data is that while the remit of HR has expanded in recent years, one in five HR professionals do not have a team and are expected to do it all alone” (this rises to 28% in Benelux and 27% in the UK).
It is clear that HR is facing significant resource challenges, while at the same time “reliance on HR has only grown” – this is “leaving HR professionals playing multiple roles from business advisor and recruiter to therapist and career cheerleader,” adds Hough.
HiBob’s data shows that for mid-sized companies (those with 251 to 500 employees), 29% of HR professionals operate in a team of 6 or fewer, this means the average personnel responsibility of 125 employees per HR team member.
In this context, Hough calls on CEOs to “check in on your HR lead. Are you giving HR professionals the opportunity to embrace the expectations of modern HR?
“It is easy to forget that HR team members are team members like any other – their wellbeing and work environment is just as important to the business, especially given the value they provide.”
Tech can solve HR’s woes
There’s been a lot of debate about AI coming for people’s jobs – and HR seems to be top of list.
But, in reality, AI and other technology can really take some pain away from HR teams, and drive efficiencies for the department.
HiBob’s research shows that HR teams need to be equipped with the right tools.
The HR tech company’s CEO and co-founder Ronni Zehavi shared: “Reviewing the HR tech stack to enable more efficient, streamlined processes, will mean HR teams can focus on the people-first strategies that boost staff morale, engagement, and well-being that are key for attracting and retaining talent.”
The good news is that CEOs are on board – tech integrations are a priority for C-Suite. 7 in 10 HR leaders told HiBob have done three tech integration to improve their operations.
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