Role of virtual CHRO in the next gen HR strategy
As the world is transforming in the way businesses are functioned, there were several changes in the next gen HR has also taken place. The modern world of work encompasses human resources managing people who are not the permanent employees, motivating freelancers to be more productive, creating engagement for contract workforce, managing performance for contractors and a HR strategy without a retention plan.
Welcome to the Gig Economy. As you are reading this article there are about 200 million gig workers globally who are working for several projects and assignments for many organizations, big and small. (BCG and MSD Foundation report). Almost 70 percent organizations hired freelancers and gig workers to solve organizational issues.
In earlier days it was only the blue collar workers who were called daily wage earners and actually not even accounted for as far as the organizational people strategies are concerned. As times have passed, there has been a huge change in the workforce demographics and now almost 64 percent people are motivated to work what they want to do rather than a 9 to 6 job. Enterprises are also increasingly getting interested in hiring gig workers for their critical needs and handling the human resource management well.
Transformation that is helping CHRO
Among the numerous applications chief human resources officer in the human resources management sector, role of HR must expect to see involve recruitment and onboarding, employee experience, process improvement, and the automation of administrative tasks.
The CHRO is adopting the HR strategy coverage, or they can also cover certain, specialized areas. Some common fields of coverage are employee training and development, talent acquisition and development, ethics and empathy, and communication and conflict resolution.
Thus the role of HR also has been very dynamic in the last couple of years and especially in the pandemic situation. During Covid-19, a lot of firms slowly moved to the gig economy for their manpower requirements and there was a certain surge in doing assignment work. More firms are now not looking to hire full time resources for roles that are not required to perform along the year. There has also been a big change in HR strategy decisions in keeping only the core functions as part of the firms and outsourcing the rest of the functions.
The Virtual CHRO solutions help to develop HR plans and strategies to support the achievement of the overall business operation objectives. The Virtual CHRO also offers oversight for all aspects of human resource management and industrial relations policies, practices, and operations for an organization.
To establish an identity, role of HR makes sure to approach the correct entity. There are several reasons to choose the Virtual CHRO. A few of them are:
- Flexible approach with agile solutions
- One solution does not fit all. Enabling customization and personalization
- Be the Mentor for both the human resources team as well as other members of staff
- Ensure that initiatives and day to day HR operations are continuously monitored and managed
- Proper guidance for the existing human resources Be the advisor to the Management and Facilitate HR interventions
- Several human resource management initiatives will be recommended with value analysis.
- Build and implement comprehensive compensation and benefits plans that are competitive and cost-effective.
- Function as a HR strategy business advisor to the executive/senior management of each business unit or specialty group regarding key CHRO organizational and management issues.
- Establish and implement HR efforts that effectively communicate and support the company’s mission and strategic vision.
- Offer overall leadership and guidance to the human resources function by overseeing talent acquisition, career development, succession planning, retention, training, leadership development, compensation and benefits globally.
- Virtual CHRO will plan and execute the HR strategy in support of the overall business plan and strategic direction of the organization.