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Classified in: Business
Subjects: NPT, ECO, ESG

Chief Human Resource Officers Have an Additional Focus: ESG Issues


NEW YORK, May 16, 2022 /PRNewswire/ -- The events of the past two years?including a pandemic, social strife, and the Great Resignation?have upended the role of the chief human resource officer (CHRO). Now, CHROs are being called on to play a greater part in addressing the environmental, social, and governance (ESG) matters?both the risks and opportunities for companies.

Based on discussions with more than 100 human capital leaders at multi-national companies and regional powerhouses in Europe, Asia, and the US, a new report from The Conference Board reveals the increased pressure on companies to act on ESG issues, and the expanded role of human capital leaders in doing so. CHROs will need to?among other things in the ESG sphere?help shape the corporate voice on social issues, articulate the mission and purpose of their companies, and communicate the company's people strategy to an increasingly broad set of stakeholders. This has become all the more urgent as companies prepare for upcoming US Securities and Exchange Commission (SEC) requirements to further disclose data on a company's human capital resources, measures, and progress against objectives.

Additionally, the report also explores the challenges CHROs must navigate to successfully lead remote and hybrid teams and to shape an organizational culture that both attracts and retains workers.

Insights from the report, The CHRO's Role in Navigating the Future of Work, include:

CHROs will partner with C-suite colleagues and the board to help shape the company's voice on social issues.

What to expect:

How to prepare:

"The crises of the past few years have underscored why human capital management matters?it's an essential part of the overall business strategy, including achieving a company's ESG goals," said Rebecca Ray, PhD, Executive Vice President of Human Capital at The Conference Board. "Board oversight of human capital management will continue to grow in importance. CHROs will need to ensure that directors understand the organization's capability to execute the business strategy."

The company's mission and purpose should underpin not only company culture, but guide decisions about the work environment.

What to expect:

How to prepare:

Technology and analytics will guide CHROs as they work toward business goals.  

What to expect:

How to prepare:

CHROs will lead the organization toward a seamless hybrid culture, offering flexibility and upskilling.

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Through successive waves of "black swan" events, CHROs will need to rethink leadership development.

What to expect:

How to prepare:

About The Conference Board
The Conference Board is the member-driven think tank that delivers trusted insights for what's ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org

 

SOURCE The Conference Board


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News published on 16 may 2022 at 10:12 and distributed by: