It's time for HR to move from being a service provider, to trusted advisor, to board director.
Board directors rely on trusted advisors—internal and external—to help guide their decisions and support their processes. With so many of these key risk areas relating to people matters, the logical internal advisor would be the Chief Human Resources Officer (CHRO). Yet, Korn Ferry's experience working with boards, and our research into HR influence in the boardroom, suggests that the human resources function is not engaging with the board as much as it should.
Korn Ferry's Board Services partners, Katie Lahey, Lynne Nixon, and Robert Webster spoke to 20 chairs and nonexecutive directors of Australian listed companies—many of whom chair the remuneration and nomination committees of their respective boards—to hear their views on the CHRO as a trusted advisor in the boardroom.