This Chief Performance Officer (CPO) role extends beyond the traditional CFO and CHRO skill-sets and demands additional complex responsibilities, as it contains both traditional finance and HR responsibilities, along with requirements of the enterprise strategic agenda and the need to: 1. Provide insightful and predictive analysis and reporting focused on delivering intended business and financial outcomes, 2. Execute and manage the productivity, processes and performance, 3. Ensure that financial and human capital area available and correctly allocated, 4. Build resilience and agility into the financial and human systems of the enterprise, and most importantly, 5. Recast both HR and finance as value creators, moving beyond accounting and transactional activities to actions that truly affect business performance — revenue, profit margin, brand value, and market share. As this CPO role stretches into productivity and transformational efficiencies, there will be a real need for finance and HR to deal with the inevitable disruption such efforts can cause. Most critical in this effort, CFOs and CHROs must ensure that the short and long-term skills, capabilities, and resources are ready as and when required.
Because an enterprise’s performance depends largely on the fit between people and jobs, the CFO and CHRO, together, can crystallize what particular roles are needed and what talent is required to fill them.
If the CFO and CHRO together play this CPO role, they will face a number of hurdles– many of which have their origin in data, knowledge, and information management. The key questions include: • How do they harness the mass of data now available to enterprises and synthesize it into meaningful, insightful and useful information? • How do they efficiently integrate the internal enterprise data with the vast quantities of customer and economic data flowing outside the enterprise? • How do they become the internal data-information-knowledge champions and effective providers of insights when each executive and functional leader will feel the right to own their portion of the data? While these are not easy hurdles to overcome, we believe that the right discussions, research, and best-practice sharing can help the leaders of finance and HR leaders, along with their teams and enterprises, drive this performance effort forward, with purpose and commitment to achieving the next level of growth and results. Contact AchieveNEXT or Insperity to learn more. 2021-2022 Mid-Market Talent Acquisition, Executive Compensation and Culture Study — Powered by Insperity I 23
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