Fred Lamster recently contributed an article entitle, “Why CHROs Should Get a Seat at the Board Table” to Chief Executive Magazine.
Why do HR leaders boast about “earning a seat at the board table” when any other function head on the leadership team—CFO, COO, CMO, CIO, CDO—just comes in and sits down?
Best Practice 1: Understand the key elements of the overall business. C-level executives (often with the exception of HR) are generally fully informed and aware of the financial health of the company, potential areas for growth and experimentation, competition and overall industry challenges. Most CXOs possess extensive knowledge of the products or services the company offers. A successful CHRO will be both knowledgeable and conversant in all of these same areas. He or she should know the key elements of each of the other executives’ areas, know what they mean and how they are measured and, most importantly, understand how human capital challenges impact each of these areas and be able to discuss these challenges and potential solutions from a functional and business perspective.
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