With five generations all in one workplace, the workforce of the future will look much different than it does today. More than half of participating CHROs in Aon Hewitt’s recent study revealed they are not career HR professionals. Of these, approximately one third had no background in HR prior to assuming their current CHRO position.
The study capturing insights from 45 CHROs at leading global organizations shows that HR leaders are preparing in diverse ways to assume this challenging role. 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.
“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,” said Neil Shastri, leader, Global Insights & Innovation, Aon Hewitt.
According to Aon, 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. However, 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).
Shastri further added: “Those well-equipped to achieve the greatest success will have diverse skill sets, be adaptable and agile, and gain hands-on learning from working through real life situations and acquiring knowledge across disciplines and industries.”
Key findings from the study are:
Emerging Skills for CHROs to lead HR 2020
Some of the emerging capabilities that future CHROs will need to be successful include six major changes, they are:
Dave Kompare, partner, Aon Strategic Advisors & Transaction Solutions said, “To build a strong bench for the future, HR professionals must work on creating an environment conductive to the growth of future CHROs from both within and outside the function. It must also look for ways to help CHROs of the future pick up critical experiences that matter in the CHRO position.”