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5 Concerns That Are Keeping CHROs Up at Night in 2020

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2020 is a chaotic year for businesses. In the first half of the year, companies underwent a great deal of unprecedented change. While companies were gearing up to achieve targets set for the year: digital transformation, new recruitment plan, and improving the employee experience, the priorities soon changed quickly.

Layoffs, furlough, or taking the entire workforce remote were certainly not among the plans for the year. HR leaders, however, made all efforts to make the best of the situation. Now as we enter the second half of the year, there’s a drastic change in the priorities of the companies.  The mind of the CHROs is occupied with pressing concerns and priorities are very different than what we expected in the beginning of the year. 


Workforce planning

According to a McKinsey & Company report, for one-third of all leaders, workforce planning is a high priority for the next 12 months. The pandemic has forced leaders to identify the roles that are crucial for the success of the business. Remote workforce and change in business operation is driving leaders to see what roles make the most impact and what roles are redundant in the present situation.
With the hiring budget in a state of flux and an uncertain future, CHROs need to zero in on the skills that are most important to companies in a post-pandemic world to emerge successfully.

With a remote workforce becoming a norm, leaders have can now have talent acquisition strategies, overcome skill shortages, focus on cultural diversity after the pandemic is over. 

Learning and development

L&D teams have suddenly found themselves at the center of the organization’s priorities. CHROs and CLOs can work together to identify the necessary skills that the organization needs and ensure learning and training material is available across the organization.

As the focus on organizational agility intensifies, the emphasis on learning and development for business growth will increase. L&D isn’t a nice to have business function anymore. The pandemic has shown the contribution of L&D in talent development that translates into business growth.

One of the goals of the L&D teams is to deliver capabilities for the future. In the face of pandemic and declining investment in learning and development programs, how to keep the investment up is a challenge for HR leaders. 

Employee Wellness

Employees are working longer hours at home. On top of that, they are living a life full of uncertainty. Right from a trip to the grocery store – where short supply, to public health and safety. These weigh on employees' minds. In this situation, CHROs need to keep a watch on employee health and wellness.

Communication

With the layoffs and shutdowns, it is natural for employees that something of this sort could happen to them. The responsibility to ensure that employees aren’t afraid and that their job is safe, the responsibility lies with HR leaders.

Regular communication from leaders will keep the employees’ morale up. With a bit of personal element added in the communication, it will remind employees of the human side of the company, becoming a source of strength for employees.

Contingency plan

It is widely acknowledged that the role of CHRO in the current situation is the same as what was of the CFO in the Global recession. CHROs will carry many lessons from the current crisis, like how they developed new strategies to overcome challenges.

One of the key takeaways for the leaders in this pandemic was to have a contingency plan.

Leaders realized that businesses can tumble any time. It is better to prepare for the best and keep resources handy for the worst of situations. Backup resources and workforce should be at their disposal at all times, especially health crisis and regulatory changes.  

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