To Invest in Your Biggest Asset, Elevate HR

Your people are your competitive advantage

If you surveyed a group of CEOs and asked them what they consider their organization’s biggest asset, I’m certain their instant reply would be, “our people.”  Ask that same group of CEOs about their top concern for the organization and the answer might vary. What should their top concern be?

Logic says that if the greatest asset is people, the loss of that asset is the greatest concern.  Attracting and retaining the right people should stand out as an overarching goal of every organization.  Why? Because all business decisions come to one thing:  the right talent.

The CEOs that recognize talent as their greatest concern probably have a chief human resources officer occupying “real estate” in the C-suite.  While almost all organizations have an HR professional, not all have elevated that position to the top of the org chart.  If your company has not allowed HR a place at the C-suite table, it might be time to upgrade the status of HR.

3 Reasons to put HR on the C-suite Team

  1. Most high-level strategizing takes place in the C-suite
  2. Organization growth goals are directly tied to people
  3. Your people are your organization’s ambassadors

High level strategy

peopleMost high-level strategizing takes place in the C-suite, and you’ll look to “your people” to carry out those strategies.  Therefore, someone from HR needs to be part of those strategic discussions.

So many tasks reside in the human resources department.  It is easy to think of HR as the place in your organization with the longest “to do” list. While you do need a strong group of task-masters, you also need someone at the strategy table wearing “the talent” hat.

Growth Goals

That person will think of your organization’s overall strategy in terms of the team you have and the team you need. A CHRO can help you identify the right team members that will help your organization achieve its growth goals.  A CHRO will also have their finger on the pulse of what compensation is needed to retain your strongest team members and attract others. And, since so much of an organization’s success comes down to numbers as well as people, it’s helpful to have a CHRO searching for alignment between the budget and the org chart.

Corporate culture also emanates from the C-suite, and is almost always a make-or-break factor for an organization’s top talent.  A CHRO is integral to promoting a culture that will retain your best people.

People – Your Organization’s Ambassadors

There is certainly something very special about your organization that differentiates it from your competition. You can think of it as your ‘special sauce’ or your employment brand.  It’s your people that communicate the difference with customers and share their employment experience with others.

Furthermore, many are surprised to learn that your employment brand actually factors into whether or not someone will do business with you. Developing and promoting that brand needs to be an intentional effort. A CHRO can captain that.

If you haven’t yet recognized the strategic role HR can play, it’s time to shift your perspective.  Look at your business strategy and consider how many of those goals can be met by thinking strategically about your talent.  Consider the value of having a CHRO leading the charge. It’s an important investment in your biggest asset.

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