Good morning!
CHROs have come a long way, and over the past few years, they’ve carved out more power than ever within the C-suite.
But an expanded role demands a bigger skillset, and modern CHROs at the top of their game are expected to do much more than they were a few decades ago. “I firmly believe the job has gotten harder and bigger,” says Steve Patscot, who leads Spencer Stuart’s North American human resources practice.
I spoke with industry experts who broke down exactly what top-level CHROs should be bringing to the table as they become more important in the business world. Some are hard skills, like data and analytics. Rolling out AI within an organization is falling squarely in HR’s wheelhouse, and leaders need to know how to explore and implement the new technology, as well as how to communicate with tech departments.
But other necessary skills, however, are a bit softer. HR has always been the first call when dealing with various employee issues, but the function now has to work on building positive working relationships within the C-suite and among the board of directors. According to a recent survey, around 22% of HR leaders said they would have liked to know how to collaborate with other top executives before they took on their role. And around 39% said the same about working with directors.
“You’ve got one chance to prove yourself with the board: That first meeting,” says Jennifer Wilson, the head of Heidrick & Struggles’s global human resources officers practice. “They don’t give you a second chance.
It’s a whole new world. Do you have the skills you need to navigate it? Check out what industry insiders told me about what every CHRO needs to know, and read the full story here.
Paige McGlauflin
paige.mcglauflin@fortune.com
@paidion
Today’s edition was curated by Emma Burleigh.
Around the Table
A round-up of the most important HR headlines.
- While restaurant executives have some issues with California’s recent $20 minimum wage increase, they say the pay hike has brought in better job candidates. Business Insider
- Finance, consulting, and sales companies are on the hunt for job candidates with golf skills, as business deals and networking on the green are making a comeback. Wall Street Journal
- The proportion of North American employees whose companies offer summer Fridays has declined from 55% in 2019 to just 11% in 2023, as more businesses opt for WFH Fridays instead. NBC News
- A business executive fired a remote employee who was working two full-time jobs, saying the staffer was slacking in performance and that it is “unethical” to shift that burden onto coworkers. Business Insider
Watercooler
Everything you need to know from Fortune.
Vexed. A new report shows that two thirds of Americans say companies aren’t effectively addressing the wealth gap between CEOs and staffers, as top executives earn nearly 200 times the pay of an average employee. —Seamus Webster
Top turnover. Crowdfunding platform Kickstarter is firing seven executives and senior employees, while promoting two workers within its C-suite, as it tries to revamp amid prolonged stagnant growth. —Jessica Matthews, Leo Schwartz
Climate conundrum. Gen Z is the most climate conscious of any generation but most members lack the “green skills” necessary to tackle environmental challenges. —Orianna Rosa Royle
