Good morning!
Any business executive today must have cross-functional expertise in order to help lead a major company, and HR leaders are no exception. While 86% of more than 100 CHROs surveyed by human resources consulting firm Mercer say they feel extremely or very well prepared for their role, many identified issues like not knowing how to work with corporate boards and the rest of the C-suite as growing pains they experienced in the role.
According to Mercer’s survey, 40% of CHROs say they wish they had greater depth on non-HR topics, such as finance or operations, before starting their role, and 22% wish they’d known how to collaborate with the C-suite. Similarly, 39% wish they’d learned how to work with the board upon taking on their roles. Knowledge about board collaboration was especially prevalent among first-year CHROs, with 69% reporting that they wish they had known how to better partner with the board upon assuming their role.
CHROs also cite feeling isolated. Forty-nine percent of CHROs surveyed say they’re still overcoming negative perspectives about the function.
“The nature of HR work is providing a lot of confidential coaching; they're dealing with a lot of personal matters,” says Jonathan Gordin, a partner of HR transformation at Mercer. “Sometimes it’s a little bit lonely in the role, and they feel the need for connections.”
The surveyed executives also identified ways to better prepare new CHROs. One avenue is through networking and sponsorships: 73% of respondents say mentoring by a seasoned people leader was vital in acclimating more quickly to their role, and 58% say participating in a peer network would be beneficial.
Forty percent of respondents say having a short-term impact plan and executive coaching is critical to developing as HR leaders. Respondents also requested more cross-functional expertise.
“One of the things that we thought a lot about is whether things [such as] skill building or relationship building can be done more with emerging leaders through integration or cohorts so that when they get to the pinnacle of the organization, they have business context, they've worked on projects and other domains of the organization, and they've built those relationships,” says Shari Chernack, a senior principal of HR transformation at Mercer.
Finally, CHROs identified greater knowledge of technology and data analytics as areas that are necessary to understand to succeed in their roles. Sixty percent of those surveyed say a more robust command of technology would become crucial as their role evolves and expands. As such, 41% of CHROs say they wish they had a better understanding of HR data analytics and insights when taking on their role, and 17% wish they knew more about HR technology.
“Knowing more about what to do and how to interpret the data is going to be a huge challenge and a huge part of their agenda for the years to come,” says Gordin.
Paige McGlauflin
paige.mcglauflin@fortune.com
@paidion
