CONCLUSION: IT’S TIME FOR FINANCE AND HR TO WORK TOGETHER TO TRANSFORM PERFORMANCE. With more job openings than available job seekers, work and a workforce disrupted by the pandemic, and management and leadership struggling with how to define culture and drive employee engagement each day, it has become imperative that finance and HR leaders work together as never before. HR’s skills in job design and organizational psychology and finance’s ability to use data and numbers complement each other perfectly. Together, finance and HR can lead their enterprise efforts to win the war for talent. While many will argue that the CEO must ultimately lead this effort, or that the HR team must be responsible for the success or failure in this endeavor, the data captured from this survey, coupled with the insights shared by finance and HR leaders from across North America who participate in the CFO and CHRO Alliance Peer Advisory Networks, make it clear that if finance and HR leaders work together — in tandem — that they can effectively serve as Chief Performance Officers , and lead the search for people inside and outside their enterprises who could be future value creators and determine how to release their talent. Capital and human capital — together at last. Given all of what 2020-2021 has forced upon finance and HR leaders, their C-suite colleagues and their emerging and mid-market enterprises, it is clear that CFOs and CHROs, together, must identify the key business drivers and human and financial resources that individuals, teams, and enterprises need to bring performance to the next level. Together, they can multiply the impacts of their efforts, not just add them. Advances in digital capabilities and disruptive technologies are challenging fundamental talent norms in many businesses, industries and markets, resulting in the continuing evolution of both the CFO and CHRO roles in building and assigning talent, especially key people, and working to unleash their enterprise’s energy. Given the current competitive environment, most finance and HR leaders would agree that managing human capital must now be accorded the same priority that managing financial capital came to have decades ago.
22 I 2021-2022 Mid-Market Talent Acquisition, Executive Compensation and Culture Study — Powered by Insperity
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