The ‘Talent Think Tank’ of the Bombay Chamber of Commerce and Industry met on April 12, 2019 for its second provocative thought nurturing session.
This White Paper is on the basis of these deliberations. The theme identified for discussion and thought ideation in this session focussed on :
Critical Role Interdependencies: CEOs and CHROs for Value Creation through People
In an integrated world where ‘silo’ thoughts and behaviours do not yield results or create value, a positive corporate work relationship between the CEO and the CHRO would certainly contribute to the success of the enterprise. Realising the critical corporate importance of this relationship, the Talent Think Tank engaged in 2 hours of Crucial Conversations around this theme. Dramatis personae :
The CEOs / MDs from various sectors Mr. Lalit Gupta (Ex MD Oil), Mr. Govind Shrikhande (ex MD Retail), Mr. Rajiv Aggarval (MD Shipping), Mr. Rakesh Panday (CEO Retail), Mr. Ashith Kampani (CEO Securities) and Mr. Vijay Srirangan (DG, BCCI) along with
The CHROs from various sectors Dr. Prashant Nair (Consultant), Ms. Geeta George (Realty), Ms. Ruhie Pande (Realty), Mr. Amar Sinhji (Legal), Ms. Kaushiki Srivastava (Entertainment), Mr. Dheeraj Goyal (Consumer Non durables), Dr. Sanjay Muthal (Recruitment Consultant), Mr. Amal Das (Recruitment Consultant), Dr. Sapna Purohit (Pharmaceutical) and Mr. Prashant Bais (BCCI).
‘Interdependencies’- defined ‘Interdependency’ is defined as the quality or condition of mutual reliance on each other. A CEO would succeed in this role of creating ‘Enterprise Value’ if supported by the right CHRO who helps in creating this value through People. A CHRO in return would become effective and contribute meaningfully if the CEO provided him appropriate inclusion, acknowledgment & support.
The 5 Areas of Interdependent Support that CEOs expect from CHROs
1. Custodianship of Cultural Values, Standards of Ethics and fair Governance practices that would help build a positive workplace citizenship. This would also in return build a strong Employer Brand Value Proposition for the Enterprise.
2. Building a Net Work of Positive Enterprise Relationships with all people resources. This includes crucially building dependable & harmonious relationships with employees, unions and other stake-holders.
3. Understand business drivers and accordingly co-own responsibilities with the CEO for the correct Organisation Structure, Talent Sourcing, Compensation & Rewards Strategy, Developing Organisation Capability, Engaging Talent, Managing Careers and leads Succession Planning process.
4. Building flexibility and Creating enterprise readiness to manage its ongoing transformational agenda in complex markets & uncertain times.
5. Positively create an eco-system that motivates people & energizes the organization making its people happy and fostering wellness as they expend their discretionary efforts to fulfil enterprise Vision & Purpose.
The 5 Areas of Interdependent Support that CHROs seek from CEOs…
1. Make room for HR in their business strategy and include CHRO as a critical value creating business partner with a Voice in this process. The CEO must be seen using the CHRO as a sounding board to determine people concerns and build connections in business strategies. 2. Listen to the Voice of the Employee as echoed by the CHRO in his employee advocacy role and provide fair solutions.
3. Allocate structured time in his busy schedule to meet and communicate with different levels of employees along with the CHRO. Build bond of trust and loyalty with CEO and other people levels in the company.
4. Role model Corporate values, Governance, Culture, Style, develop mechanism to hold self and the leadership team accountable. Provide Fair, balanced, inclusive and equal treatment to all in the enterprise.
5. Consider Employee Engagement and enterprise Capability Building activities as a critical part of his business strategy and not a soft optional item to be conducted only in times of progress and comfort.
- Dr. Adil Malia, Chairman, Talent Think Tank