Earlier the professional human resources were all about back-office function. A cost center which was basically focused on the monotonous administrative tasks. It was all about administrative tasks, management of compensation and plans of benefits. But the last decade and a half have changed a lot on the scene for the human capital management.
The chief of human resources used to report to the Chief Finance Officer or Chief Operating Officer and there were talks of real influence lacking on part of the chief of human resources. But nowadays they report directly to the Chief Executive Officer and act as their key adviser. They make regular presentations in the board room. Skills like Leadership qualities and efficient implementation of strategy are also focused on by the employers today. The role of CHRO is increasingly gaining momentum. It has moved from the role of administration to the functionality of business strategy enabler.
The average salary of the human capital management professionals is also increasing. Though CEOs and COOs are still the people with highest salaries. The professional human resources also involve the traits of leadership style, thinking abilities as to how they behave in private, and emotional competency under pressure and risks.
On the overall analysis of personality traits of different officers of the C-suite, many researchers have pointed out that the professionals in the human resources association have the traits closest to the CEOs. Not CFO, CHRO, CIO, CMO, and COO. Companies must fill the positions of the human capital management compulsorily to attract the talent, create the apt structure of the organization, establishment of right culture, and relevant experiences to drive the company culture.
The human resources professionals who wish to see themselves as the CEOs in their future must always demonstrate top capabilities in different skill sets. Apart from the basic skills that make a CHRO, technical and financial skills are really requisite to make a CEO. If high-potential and top performing executives are given top jobs in the professional human resources, chances are high that they will turn out to be great CEOs.
There are many successful examples of prominent CEOs who had served in one or the other roles of human resources association. To name a few- Mary Barra, CEO, General Motors has earlier served as Human Resources- Vice President and Anne Mulcahy, former CEO of Xerox who had also served in the same company’s human resources operations division.
More power to the women in the human resources association because studies claim that women share a great percentage of the top performing human resources professionals. That concluded that if CHROs are developed as CEOs, there is a chance of a greater number of females taking up the coveted positions. Technical skills are a starting point for succession to the CEO role and responsibilities. Though there has been historic bias against the functionalities of the CHRO position, the status of HR leaders is set to rise for sure.