CHRO Webinar
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“CHROs and the HR function must use their unique knowledge, and experience to help business leaders tackle… issues across the entire enterprise.”
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CHRO Webinar
- 2. Deborah J. Muller • Founder of HR Acuity • 25 Years of Experience in the HR Industry • Worked with Fortune 500 Companies: Honeywell, Citibank, Marsh & McLennan • Conducted hundreds of internal employee investigations.
- 3. An HR Pro walks into an elevator…
- 4. I panicked
- 6. • Had this elevator ever done this before? • Had this section of the building ever had issues before? • Had any other guests or employees made reports of anything like this happening? The Questions
- 7. So what does this have to do with you?
- 8. “CHROs and the HR function must use their unique knowledge, and experience to help business leaders tackle… issues across the entire enterprise.”
- 9. • Trusted advisor • Deriving talent strategy • Driving a performance- based culture • Administering workforce policies and procedures The CHRO: Current Profile
- 10. Taking the next step
- 11. Soft vs Hard Skills
- 12. Litigation Pending Most numerous types of litigation pending in the last 12 months 19% 19% 25% 36% 48% Regulatory/investigation s IP/Patent Personal Injury Contracts Labor and Employment Source: Norton Rose Fulbright LitigationTrendsSurvey 2014
- 13. Legal Disputes Source: Norton Rose Fulbright LitigationTrendsSurvey 2014 What types of legal disputes concern companies the most?
- 14. Employment Practices Lawsuit 36% Loss Events Which one loss event would cause the most financial damage to your company? Source:Chubb 2010 PrivateCompany Risk Survey
- 15. • Increased legislation • Enhanced whistleblower protections • High unemployment & economic uncertainty • Demanding work environments • Sense of entitlement • Easier to make claims Risk Factors…Outside ofYour Control
- 16. Correlation between Unemployment & EEOC Charges Sources: Bureau of Labor Statistics and EEOC
- 17. Unemployment Uncertainty Source: Bureau of Labor Statistics
- 18. $372MM 521% 55% total EEOC recoveries in 2013 Recoveries in discrimination-related claims continued to reach record highs in 2013. The EEOC obtained the highest monetary recoveries ever increasing by $6.7 million to $372.1 million Record Recoveries, Losses, and Litigation Each dollar of compliance spending saves firms an average of $5.21 in raised avoidance of legal liabilities, harm to company’s reputation, and lost productivityROI more focus on risk management In 2011, 55% of board member felt risk management was the one area that they would like to focus more then any other subject matter area. Sources: EEOC, Corporate Executive Board General Counsel Roundtable, DBO Board Survey
- 20. • Establish policies and measure HR compliance. • Develop a ready and capable team. • Be the executive ears and eyes • Build and maintain an ethical and accountable culture. • Manage people-related risk • Drive governance and board support The role of the new CHRO
- 22. • Review and assess your current state • Create a consistent vernacular • Put employee-related risk on your agenda • Hold your people accountable • Become the leader of employee-related risk for your organization Getting comfortable with managing risk
- 23. Get Granular
- 25. • http://www.nortonrosefulbright.com/files/20140415 -norton-rose-fulbrights-10th-annual-litigation- trends-115113.pdf • http://www.hrpolicy.org/chro_role.aspx • https://www.deloitte.com/assets/Dcom- UnitedStates/Local%20Assets/Documents/us_con sulting_hctrend2012_peoplerisk_021512.pdf • “Seizing the Opportunity, Part One: Benchmarking Compliance Programs.” 2003 Corporate Executive Board, General Counsel Roundtable. • BDO Board Survey (2011)
Editor's Notes
- But our most expensive resources…our human resources…how do we measure, assess and monitor their behaviors? Do you? Can you answer the same questions asked by the hotel manager…Can we substitute “employee” for “elevator” and “some type of deviation from expected behavior” for “the elevator just stopped working Today, we don’t do a good job of that. While I can’t talk for everyone on the phone, I can say I know this to be true from the HR leaders and general counsels with whom I do talk. Categorically, big company, small company, across industry…it isn’t happening. Why? Perhaps our employees are not predictable like our machines or our elevators? Perhaps we task them with more complex responsibilities like – oh thinking and creativity. Perhaps we think we don’t think we have the ability to figure that out. But we do. Now what I am not talking about is “big data” We hear about it all the time in the news…”big data to drive the business”…but the reality is you don’t need big data. In fact, many companies discover that they have lots of data, but in reality very little information. You can get so caught up in the big data that we can lose sight of the value in granular, anecdotal data. When something happens to our employees or an incident is caused by our employees, what can we learn from that event, a series of similar events, or the trending or timing of the events. How does that help us measure and mitigate risk? How can we use it to become smarter and more proactive, to be able to anticipate and reduce future incidents…To foster a more ethical and value based work environment. Small data…granular data can make us better.
- “CHROs and the HR function must use their unique knowledge, skills and experience to help business leaders tackle…issues across the entire enterprise.” The new CHRO must be able to use their specific knowledge around people and their behaviors to help the organization. But how? Let’s look at the traditional CHRO
- Traditionally, the CHRO has been tasked with the success of the company through fourmain pieces of her/his role: 1. Trusted advisor to the CEO and the executive suite; and by doing so foster that sense of partnership with its team and their business colleagues. 2. Deriving talent strategy for the company that supports the overall business plan, and; 3. Driving a performance-based culture that has the capabilities to adapt as the business environment changes. 4. Administering workforce policies and procedures – ensuring compliance with local, state, federal laws while creating a safe and positive work environment. What’s missing from this list that everyone from Deloitte to well….me today, is talking about?