It comes as no surprise to CHROs that their strategic importance continues to grow. A recent Deloitte study that looked at job postings and interviewed CHROs across various industries concluded that the number of unique skills expected of CHROs increased by 23% over past five years, more than any of their C-suite colleagues.
Importantly, the report also revealed that, when it comes to CHROs, “no skill requirements are being removed from their plates in a meaningful way.” In addition to expectations of business acumen and mastery of an array of soft skills, the report indicated large increases in demand for areas that pose threats to business success, namely:
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Policy analysis and research that can “help CHROs translate their initiatives into the language of the business” increased by 60%.
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Regulatory and compliance expertise, particularly related to labor compliance where demand rose by 90%.
AI rising: The report also highlighted the technical and soft skills needed to integrate AI into the workforce.
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This comes at a time when CEOs are questioning whether their executive teams have adequate AI acumen. According to Gartner’s recent survey, “only 44% of Chief Information Officers are deemed by their CEOs to be ‘AI-savvy.’” In addition, CEO perceptions of CHROs are the lowest of all C-suite members with only 18% deemed “AI-savvy” by their CEO.
Crisis of confidence: While approximately 59% of HR teams are working to incorporate AI into their workflow, a new Mercer study finds that 56% of those team confess that they are “not confident in their tech-optimization efforts…”
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Asked about the readiness of the entire organization when it comes to AI, Adecco Group reports that a mere 10% of C-Suite leaders believe their companies are future-ready. The study cites “shoddy workforce training” with “only one-third of companies […] providing a clear policy on how employees should be using the technology.”
The bottom line: By all accounts, CHROs are increasingly expected to add business, data analysis and technical skills on top of the vast array of soft skills required for the job. In addition to educating themselves on AI and emerging technologies, CHROs are front row and center in ensuring the workforce learns, adopts, and uses AI appropriately.
