By Sheryl Simmons, Chief Human Resources Officer
As HR professionals, we’re well aware of the many unfortunate stereotypes of HR. We’re the office referee, the fashion police, the corporate party planner and the bearer of pink slips. The truth is, HR is far more valuable. As HR leaders, we are strategic advisors and revenue-drivers. We’re efficiency experts. We’re cost-savings strategists. So, it should come as no surprise when HR leaders pull their seat up to the decision-making table.
HR leaders have unique insight into their companies.
Employees are a company’s most valuable asset, and no one has as much visibility into what makes them tick like HR. We have our fingers on the pulse when it comes to employee retention, talent recruitment, productivity and even the general health of employee populations.
We’re able to identify the challenges our companies are facing. In fact, 47 percent of HR leaders claim employee retention and turnover as their top workforce management hurdle, with recruitment and corporate culture management following closely behind. Meanwhile 46 percent of HR leaders state employee burnout is responsible for up to half of their annual workforce turnover. And, 30 percent of HR leaders see the need to decrease healthcare costs for their organization.
Innovative brands are leveraging the value HR brings to boost their bottom lines.
In fact, large brands like General Motors, Dunkin’ Donuts and Xerox have seen the value of HR so much so that their CEOs all have an HR background. One of the motivating factors for this – revenue.
- Customer loyalty improves by as much as 200 percent when employees are engaged.
- A 10-percent investment increase in HR can boost an organization’s profits by nearly $2,000 per employee.
- Companies that excel in talent management increase earnings by spending 27 percent less than their competitors.
Money talks and these brands are seeing the fiscal advantage of adding HR leaders to the C-Suite table.
It’s time to grab a chair and join the boardroom decision makers.
We’ve covered why it’s essential for HR to have a seat at the C-Suite table. I’ll be sharing how HR leaders can get there at the SHRM Annual Conference & Exposition on Tuesday, June 19th.
Visit YourHRSeat.com for more details.