Turning ideas into action: What CHROs often miss
As an HR leader, any transformation project you invest in today will require you to have a 360-degree view of business, technology, politics, the environment, and people and culture. Miss out in one area and your leadership agenda could falter.
That’s because the future of work – and the future of the world, for that matter – depends on the interplay of these factors.
Everything is interconnected. Take for example how the recent frenzy over AI tends to overshadow discussions about its environmental costs. Or how the debate around the four-day work week often glosses over its varied impact on high-income versus low-income economies.
Knowing how to connect the dots is the first step to business transformation. It’s also the reason why the most effective CHROs today are the ones who have a sharp business acumen and an understanding of both institutional and societal change. They look at micro and macro trends. Consuming news and information wisely, digging deeper, and asking tough questions because they know: whatever hits the headlines today could change the way they do business tomorrow.
This is evident in the risks and challenges CHROs have seen in the past five years, from people's anxiety over job displacements because of AI, to political tensions arising from conflicts in Ukraine and Gaza, to workers’ reluctance to return to the office post pandemic, to the continuing influence of earlier social movements such as #MeToo and Black Lives Matter on the ESG commitments of employers.
CHROs cannot afford to be insulated from the world
CHROs cannot afford to be insulated from the world. Those who don’t bother to educate themselves about the zeitgeist often demonstrate poor judgment in the face of these radical shifts. Even worse, when asked to take action, they end up paralysed by their lack of understanding of how the world works.
Today, the same is happening with leaders amid the unprecedented adoption of AI in the workplace and beyond.
While much of the world remains uncertain about the consequences of relying too much (or too little) on AI, HR leaders who refuse to take part in important conversations about the convergence of tech, culture and business risk losing the chance to deliver a good ROI and shape the future of work.
By waiting too long on the sidelines and being overly cautious about experimenting with new tools and new ways of working, late bloomers in the tech revolution are setting themselves at a disadvantage.
Transformation waits for no one
For one, the speed of AI development could soon outpace the rate of upskilling and reskilling required of talent. Inaction could leave them grappling with advanced tech.
Transformation waits for no one. The sooner leaders and their teams learn and experiment with AI, the more enriching their growth and experience will be. And so, the more familiar they become with the tech, the better the questions they will ask about use cases and the ethics to govern them.
It’s precisely for this reason that People Matters is creating the space for conversation and experimentation around the future of work at events like TechHR. This year, in Singapore, we're featuring insights from industry leaders such as Marc Effron, Jason Averbook, D N Prasad, Peck Kem Low, and Jaclyn Lee, among others.
HR leaders have the chance to connect the dots and take action. On the contrary, failing to take part in this watershed moment could be costly.