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And these dueling priorities can be a problem if businesses aren’t careful. Around 60% of CHROs say they’re struggling to move away from old ways of thinking, and only 40% say they’re able to actually incorporate disruptive ideas into their business. The problem becomes particularly severe when it comes to technology; while 42% of CHROs are prioritizing investments in AI for the HR space, only 5% of HR teams feel fully prepared to implement it effectively. That said, Manson-Smith says the best company executives she works with are redesigning their entire operating structures to deal with all the descriptions.
The antidote might be transformational alignment between CHROs and the executives they report to. Right now, only 30% of CHROs say the leaders they work with are aligned on their transformational needs.
“Companies have been used to the CEO and the CFO being strong partners, but in some of the best organizations, we see it being the CEO, the CFO, and the CHRO, all three working together,” says. “That’s when the decision-making is more balanced and allows them all to align both short-term and long-term goals.”
