HR professionals must build competency in developing and implementing business strategy to keep up with business expectations. In a survey of Chief Human Resource Officers (CHROs) conducted by Korn Ferry, respondents indicated the following as most lacking when searching for top HR talent:
- Business acumen 41 percent
- Analytical skills 7 percent
- Relational skills 3 percent
- Intellectual horsepower 10 percent
- Ability to turn strategy into action 28 percent
- Diversified experience 6 percent
- Technical skills 1 percent
- I don't find it difficult 4 percent
The identification of candidates who can meet evolving demands within HR proves challenging. It reflects the larger concern of developing methods to successfully align talent strategy to overall business strategy, an issue that thirty-four percent of respondents indicated was keeping them up at night. Such alignment is key since competitive pressure and applicant and employee skills gaps contribute to the increasing complexity that the HR role has taken on in recent years.
The top way to meet long-term, bottom-line goals, is creating a culture where people are fully engaged, according to the survey. "HR leaders need to create a culture of allowing people to take chances, to be agile and adaptable to meet challenges of today and tomorrow," said Joseph McCabe, vice chairman in Korn Ferry's Global Human Resources Center of Expertise. To be successful, CHROs must "take the time to align their team and other key leaders to foster engagement and a shared vision."