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Accenture has released The CHRO as a growth executive. The report recognises people, data, and technology as the three main drivers behind growth, yet according to Accenture, only 5 per cent of businesses are utilising them.
According to Ellyn Shook, chief leadership and human resources officer at Accenture, the key to increased growth is in the chief human resource officers (CHRO).
“CEOs who empower their CHROs as growth executives create the conditions for them to think and act beyond their title,” said Ms Shook.
“When they recognise that people are central to their business, these CEOs cultivate the connections, skills and environment for CHROs to lead across the C-suite to drive business growth and exceptional human experiences.”
Eighty-nine per cent of CEOs surveyed said that CHROs should be leading growth. However, just 45 per cent said they are providing the opportunities for this to happen. Further, only 29 per cent of CHROs believe they have the conditions needed to lead change.
Group chief executive of Accenture Operations, Yusuf Tayob commented: “As leaders look to digitise faster and put more resilience in their business operations, talent and the role of the CHRO have never been more strategic.”
“The research underscores the tremendous benefit of close collaboration across the C-suite, particularly as it relates to their people as companies adapt to new ways of working.”
Accenture said in a statement that organisations that recognise the importance of people, data, and technology “stand to gain a top-line productivity premium of 11 per cent — the ultimate driver of profitability and revenue growth.”
This "productivity premium” drops to 4 per cent when technology and data implementations aren’t aligned with people, according to Accenture.
The CHRO as a growth executive puts forward that the best way to introduce data and technology solutions to employees is through the CHRO. Accenture said that CHROs have double the influence of employees and four times more than the C-suite at an organisation.
With these statistics in mind, companies may benefit from placing a stronger emphasis on the role of the CHRO in connecting with employees and implementing change.
Accenture says the way to do this is by promoting the ‘high-res CHRO’. These are CHROs who are more likely to influence change and are proficient in these six areas, as listed by Accenture:
- Systems thinking
- Financial acumen
- Leadership
- Technology and data
- Strategic talent development
- Business acumen
The report’s survey data was comprised of 1,140 CEOs and CHROs across 12 countries and 12 industries.
Jack Campbell
Jack is the editor at HR Leader.
