While HR often seems to be the last department to receive funding for new technology investments and upgrades, CHROs have to build the business case for why that funding should be a priority.
One of the interesting conversations between CFOs and CHROs is about whether their company views HR as a cost or as an investment, Varelas notes. The answer can determine whether a strong CHRO candidate will even consider interviewing for an opening at a particular company.
Companies will need tech-savvy HR, equipped with the right technology, so they can successfully navigate the shifting competitive landscapes of the future. People with quantitative and analytics skills are in high demand by HR teams now, Varelas says. The direction of a company’s business will depend on its people having the tools they need to innovate and to be empowered to make good decisions. Without the right technology, HR cannot be data-driven or proactive or agile.