I wrote a blog about a year ago about HR earning itself a seat at the table.  In it, I spoke about the importance of showing how HR contributes to the bottom line. This hits right to the heart of a CFO.  I was reminded of this when I came across an article recently about how CHROs and CFOs are becoming more collaborative.

In today’s business climate, financial and people strategy are increasingly connected.  As outlined in an article found on tlnt.com, the roles of a CHRO and CFO have many similarities:

1.      The Big Picture View – Both of these roles must see the bigger picture within the business.  The differences are related to their individual roles.  While the CFO may develop key strategies and objectives, the CHRO drives those strategies through the entire organization and ensures the right teams are in place to carry them through.

2.      Integrity and Accountability – The CHRO is the steward of the organization’s integrity and maintains the culture and ethics, while the CFO focuses more closely on legal compliance and regulatory issues within the industry.  Both must ensure a high level of ethical integrity. 

3.      Strategic Evangelists – When CHROs and CFOs work together they can effectively drive strategic goals within an organization and increase employee engagement around those goals.  The CHRO inspires staff to support the goals, while the CFO tracks the performance related to the objectives being driven.

4.      Performance Management – Both CFOs and CHROs must have a firm understanding of the external and internal business environment.  They can use their combined knowledge to focus on performance management, measurement, and analysis to drive the organization toward its goals.

5.      Professionally Connected – Both CHROs and CFOs must be experts in their field and advocates of their profession.  They both tend to be connected with others in the profession and are likely to hold professional certifications.  Both must have strong behavioral competencies, not just technical, to be successful in their roles.

I encourage HR executives to build a strong working relationship with their CFO.  It will benefit the entire organization and have significant business impact.  By aligning HR and talent objectives with the organization’s larger strategic initiatives, you’ll soon have a seat at the table alongside the CFO.

How have you earned yourself a seat at the table?  Email me at [email protected].