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01 May 2023

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Reshaping the social contract

Since before the pandemic, the social contract defining the interaction between employers and employees has been changing. Rapid advancements in automation as well as the increasing significance of commitments to environmental, social, and governance (ESG) and diversity, equity, and inclusion (DE&I) have all contributed to this shift. The pandemic only furthered the shift by elevating elements such as employee wellbeing and organizational purpose.Employees today show a preference for companies that support their beliefs regarding social responsibility while providing flexibility and specialized opportunities for professional growth. They also want a fair compensation system that includes a transparent rewards and recognition program, which is understandable given the current economic landscape. According to the EY 2022 Work Reimagined Survey, the chance to increase their compensation is the main driver of job switching among employees.Companies are becoming more aware of these expectations and the need to address them. Two-thirds of CEO respondents from the latest EY CEO Outlook Survey agree that pandemic-related working habits are becoming more important for lowering staff attrition and attracting new talent. However, according to the EY 2022 Work Reimagined Survey, only one-third of companies are actively changing how they handle these practices, particularly those involving technology, flexible working, and real estate.The EY Center for Board Matters investigated how boards can help reshape the shifting social contract between employers and employees, sharing three ways that boards can support their organizations.LISTENING TO THE RAPIDLY EVOLVING WORKFORCEOrganizations all across the world are aware that Gen Z workers are responsible for a significant portion of the fundamental shifts in employee expectations. Whereas a greater emphasis on sustainability may have been “nice to have” for millennials, it is non-negotiable for Gen Z. Furthermore, this generation embraces and integrates technology into their way of life. As true digital natives, Gen Z is leading the charge in creating the products, customer experiences, and ways of working that are revolutionizing how we live and work. By 2025, Gen Z will account for 27% of the workforce, and employers will depend heavily on Gen Z to actively contribute to the future success of their companies.Boards can take steps to help their organizations realize this potential by collaborating with their Chief Human Resources Officer (CHRO) or a corresponding function to create a connection with younger workers. That entails encouraging relationships built on active listening, two-way dialogue, and a sense of purpose and value. This means finding ways to involve young professionals in decision-making instead of simply passively listening, and allow decision-making based on personal beliefs and preferences. In addition, the scope for collaboration and the resources available to support health and wellbeing must be emphasized. This group must be able to challenge the organization regarding transparency in its operations, its ESG and DE&I activities, and potential inconsistencies between the organization’s commitments and reality.While talent transformation is crucial, CEOs and their boards may want to consider elevating CHRO support to accomplish these essential changes. AN EMPLOYEE EXPERIENCE TAILORED FOR LONG-TERM SUCCESSIt is imperative to pay attention to the right signals and act upon them to make the changes necessary to successfully attract, engage, and retain talent. This requires boards to have a process for monitoring outside trends and their effects on talent. One approach to achieve this is to include external specialists on the board, such as behavioral psychologists or anthropologists.Another crucial step is collaborating to create an employee value proposition that satisfies the needs and preferences of a multigenerational workforce. This should reflect diversity in the fullest sense, including demographic diversity and inclusion, opportunity, and skills application. In order to acknowledge that talent is both a long-term issue and a short-term challenge, boards can also broaden the scope of the compensation committee. In the current labor market, salary plays a major part in influencing decisions. The organization’s compensation strategy must be able to support employee financial wellness in the short term to attract top talent in the long term.PRIORITIZING UPSKILLINGMore CEOs are concentrating on talent retention strategies rather than managing talent acquisition costs as a result of recessionary pressures. Prioritizing the continued usage of technology and upskilling employees is one way they can respond. Boards can collaborate with management in retaining talent by viewing talent development as a process of progressing individuals. Employers can encourage continuous growth by offering employees new opportunities once they reach the peak of a developmental curve, such as pursuing further education or training, which would facilitate the mastery of a new job or skill. However, as change happens more quickly, these developmental curves get shorter, and skills will need to be renewed sooner. Employers must change the way their learning processes deliver skills and experience in order to do it in a more flexible, timely, and engaging manner.RESHAPING SOCIAL CONTRACTS TO EFFECT POSITIVE CHANGEBoards are poised to affect how quickly and urgently firms refresh and reshape their social contracts with employees. They must, however, push management and themselves to use diverse thinking if they are to have the greatest impact on their talent agenda. By doing so effectively, organizations will be able to effect positive change and evolve for the future.On behalf of everyone at SGV, we would like to wish all those who work a Happy Labor Day! This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.Rossana A. Fajardo is the EY ASEAN business consulting leader and the consulting service line leader of SGV & Co.

24 April 2023

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The changing nature of workforce mobility

Given the volatility of the labor market, organizations are grappling with a talent-related conundrum — balancing their global talent investment while maintaining a degree of flexibility amid uncertainty. The pandemic introduced novel ways of working, bringing renewed expectations regarding technological innovation, workforce adaptability, and talent-related opportunities. Leaders today need solutions that allay risks and yield rewards to build and sustain value, measures that could enrich employee experience and facilitate cross-border growth.According to the recent EY 2023 Mobility Reimagined Survey, which shares insights from more than 1,000 global mobility professionals and employees recently posted on international assignments, workforce mobility has failed to reach its full potential. While lucrative workforce mobility programs are imperative for the global talent race, with respondents voicing that these programs facilitate growth for individuals and their organizations, the survey showed a discrepancy between mobility programs offered by organizations and talent demand.Among those surveyed, 92% believe that workforce mobility opportunities help organizations drive growth by supporting organizational goals while investing in top talent. However, most respondents were unsure as to whether organizations can handle the potential tax, immigration, and regulatory risks.ADAPTING TO A VOLATILE TALENT LANDSCAPEThe Organization for Economic Co-operation and Development projects gross domestic product growth to be 2.2% in 2023, which is symptomatic of lagging economic growth. Much like the situation under the pandemic, where employees gained more leverage due to the need to retain talent, this slow growth could prompt organizations to renew their priorities to adapt to continually changing conditions.Organizations can focus on retaining key employees to save on costs and establish hierarchical stability. One way would be to develop ways to build on the preexisting employee experience to enhance talent and improve skills and capabilities.The EY 2022 Work Reimagined Survey reveals that mobility professionals believe they significantly influence the talent landscape. As much as 88% believe that mobility is one way to manage global talent shortages, while 76% assert that mobility could affect organizational strategy and 74% think that mobility is fundamental to business continuity. The study also shows that employee priorities have evolved to focus on flexible work arrangements, expansive total rewards offerings, and overall career goals and values.An overwhelming majority of respondents (93%) believe international assignments are lucrative career-building opportunities, with other benefits that include career development, training, and intercultural exchange. Joint research from EY and Oxford University also shows that prioritizing employee concerns regarding workforce mobility results in organizational transformation, making it more important for organizations to view mobility as an integral component of talent strategy, not a siloed transaction. WORKFORCE MOBILITY ACROSS FUNCTIONSThe study presents a disconnect in the strategic and operational identities of workforce mobility. While 42% of respondents believe mobility is highly centralized, mobility practitioners still have to coordinate with various stakeholders to accomplish tasks such as immigration compliance and technology enablement.The strategic potential of workforce mobility increases with the seniority of mobility professionals. More senior mobility professionals view their function to be influential towards business operations and strategy, and believe that a lack of visibility from other functions hinders them from capitalizing on mobility programs to achieve business objectives.This presents an opportunity for organizations to better determine their priorities regarding talent attraction and career development. The mobility function can transform to cover the organization’s overall strategy and business needs such as hybrid work arrangements and both short- and long-term relocation opportunities.MOBILE WORKFORCE DIGITALIZATIONThere is a greater need for technologies that help streamline employee workflows, such as task automation and the simplification of tax, relocation, and immigration procedures that come with cross-border work. Technology is therefore pivotal in transforming workforce mobility programs by alleviating traditional burdens while increasing employee productivity.Most respondents (92%) believe that digitizing processes is advantageous, whereas only 35% believe their organizations have started doing so for various mobility processes. The discrepancy is notable as most believe digitalization investments will increase in the next five years. Respondents agreed that mobility systems are fundamental, with 79% saying they have used two or more when relocating. Organizations with global operations often require multiple vendors to deliver services in select jurisdictions.Streamlining the user experience is especially important when working across borders, as the same tools should function regardless of location. Organizations will benefit from having complete visibility over specific legal, tax and regulatory processes to be aware of accompanying risks.MINIMIZING RISKSThe ever-changing work climate has made international work more complex, and organizations should focus on building capability pipelines to adapt as they scale. Additionally, geopolitical instability has driven organizations to place a premium on risk visibility. An overwhelming majority (97%) of CEO respondents from the EY CEO Outlook Pulse have shared that they have halted investment strategies due to geopolitical issues.While organizational leaders have started assimilating geopolitical risks into their strategic equation, mobility professionals are wary of their organizational capacity to handle risks. Only 29% of respondents believed that their organization could withstand changing geopolitical circumstances.Organizations must know where their professionals are at all times to safeguard against physical or cybersecurity threats and be knowledgeable of potential immigration, tax, or regulatory risks. Most respondents believed their organization have a policy or procedure concerning hybrid mobility (e.g., temporary and permanent remote work, cross-border work, and virtual assignments). However, less than half of the mobility professionals (47%) said the policies were consistent across borders, and an even smaller percentage (41%) believed that the policies tackled significant issues.LEVERAGING WORKFORCE MOBILITY FOR LONG-TERM GROWTHAmid the unsteady geopolitical climate and intense race for talent, mobility programs can facilitate long-term growth and sustainability. Capitalizing on cross-border work entails reimagining mobility programs to gain an advantage in the race for talent.In the Philippines, the pandemic has brought to the fore certain realizations for companies that would allow its workforce to be mobile, where applicable, driving hybrid or flexible work arrangements, virtual teaming, and cross-border work and services to address recruitment and retention concerns.However, not all organizations are mindful of the tax, immigration and other regulatory risks and issues that arise under these arrangements which impact both the company and its mobile employees. More often than not, employers are observed to be more reactive rather than proactive in addressing these risks. Much therefore has yet to be done for companies to create value that will help strengthen corporate strategy for cross-border expansion and facilitate a better employee mobile experience. This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinion expressed above are those of the author and do not necessarily represent the views of SGV & Co.Czarina R. Miranda is the People Advisory Services Leader of SGV & Co.

06 March 2023

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Championing social equity on International Women’s Day

The 2023 International Women’s Day campaign theme on equity seeks to help forge conversations on why “equal opportunities are no longer enough” in today’s world. In recent years, the debate has grown significantly and the words equity and equality are often used interchangeably. In order to champion social equity, it is important for organizations to understand and acknowledge the difference between the two.EQUALITY VS EQUITYEquality is defined as the state of being equal while equity takes the element of justice or fairness into consideration. When conditions and circumstances differ, it is possible that “equal” treatment does not produce “equity.” This distinction is explained with the famous illustration showing people of different heights using boxes to stand on in order to see over a fence; equality means all boxes are identical, but equity means the boxes are the appropriate sizes to permit the people, regardless of their height, the ability to see over the fence.Equity has become an important focal point in Diversity and Inclusiveness campaigns, changing the former D&I to DE&I as socio-political polarization and social inequities continue to increase. However, it is important to note that while an inclusive group is diverse by definition, a diverse group is not always inclusive. An inclusive organization strives for equity and respects, accepts and values differences. Therefore, equity is the means to achieve an inclusive environment and remove impeding equal outcomes.INCORPORATING EQUITY INTO THE D&I STRATEGYLast year, SGV made a conscious effort to explicitly incorporate equity in our overall D&I strategy. It better reflects who we are and how we work. It shows our commitment to shaping environments that support inclusive experiences for our people to thrive. Equity accounts for the uniqueness we all bring to the firm — recognizing that different individuals and social groups have different needs, starting points and opportunities. We want our DE&I journey to enable a sustainable, inclusive environment that advances our culture by continuously looking for opportunities to close our ‘say/do’ gaps and remove fences within the organization.The firm has introduced a series of actions to ensure a safe environment, fair access for all and to make opportunities more equitable. For example, SGV professionals have access to communication channels they can contact to ensure compliance with ethical behaviors within the framework of our Global Code of Conduct and in accordance with our values. We also have a coaching culture; coaching helps us uncover different perspectives and creates a safe space that enables vulnerable and authentic conversations. We are committed to providing the tools, resources, and environment that our people need to be successful and build meaningful careers.As highlighted in a recent EY article, “How EY is working to uplift social equity through authentic storytelling,” EY, of which SGV is a member firm, has been stepping up its existing commitment with specific focus on social equity. This includes the formation of the Global Social Equity Taskforce (GSET) in 2020, which is made up of 40 senior leaders across geographies, functions, and backgrounds. The GSET has developed a suite of actions to advance social equity in the firm and beyond.A global standard for DE&I measurement across all business units was also developed three years ago in the form of the DE&I Tracker, which was created to hold everyone accountable to progress and covers a range of visible and invisible differences. Moreover, all partners and employees have access to an “Inclusive Leadership for ALL” e-learning course within EY, and can also work towards an Inclusion and Belonging Badge through the global upskilling program, EY Badges.To identify gaps and ensure that hidden inequities are uncovered and addressed, EY launched additional global Self-ID capabilities in 2022. This increased the range of personal information choices that people can select in EY HR reporting systems. In addition, listening tools like the EY People Pulse Survey help EY better understand how its people are feeling and what they need. The survey takes into consideration differentials in responses based on various dimensions such as gender, cultural background, and generation to minimize gaps.SUPPORTING THE EFFORT TO PROMOTE SOCIAL EQUITYOrganizations can support efforts to further encourage social equity by creating a strong sense of belonging for all. When people feel they genuinely belong, they are more motivated and engaged, as well as exhibit lower stress, greater wellbeing, and higher performance. Equitable sponsorships can also boost progression, inspire confidence and transform careers.While everyone has biases — these can be challenged and mitigated by understanding what these biases can look like, what shapes them, and when they’re likely to arise. By questioning whether a decision is a preference, a tradition or requirement in every process, we can uncover different perspectives, remove barriers, expand options, and improve the quality of our decisions.INSPIRING CONVERSATION THROUGH AUTHENTIC STORIESOn Feb. 27, Karyn Twaronite, the EY Global Vice-Chair for Diversity, Equity and Inclusiveness, officially announced the external launching of a short film series featuring EY colleagues from around the world. These films spotlight a range of different experiences and inequities to help our people better connect and understand each other. The storytelling campaign has been internally meaningful, sparking reflections, insights, and conversations. The stories have helped our people to better engage with one another as a community, building greater connections and understanding. These films are shared with broader audiences to create a positive impact beyond our organization.This is one step forward to create positive change through a greater awareness and an invitation to participate in the conversation. It is hoped that by sharing these stories, we make a difference beyond us. Together, we can inspire social equity and create meaningful change towards a more inclusive environment where everyone can thrive. This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.Luisa Anna E. Hebron is a talent director and the talent leader of SGV & Co.

27 February 2023

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Deepening the strategic value of the CHRO (Second Part)

Second of two partsChief Human Resources Officers (CHROs) have always been crucial to the success of an organization. However, as a result of current events, they may now be just as valuable to CEOs as the Chief Financial Officer (CFO). As such, it is imperative to deepen their strategic value.In order to better understand why the connection between the board and the CHRO is becoming more crucial, insights from EY thought leaders and clients were gathered to fuel strategies to improve the board and CHRO dynamic along with the ways of working. Instead of merely reducing potential risks, organizations can find opportunities in current, unheard-of labor trends to gain a competitive advantage.The first part of this article discussed challenges in talent, perception gaps identified with employees, and considerations for boards to make. This second part will discuss three strategies that boards and CHROs can implement to help each other succeed: strengthening and enabling the CHRO role, re-examining the risk framework to support the talent agenda, and supporting CHROs in developing a human-centric strategy and employee value proposition.STRENGTHEN, SUPPORT, AND ENABLE THE CHRO ROLEOrganizational culture, which includes purpose, well-being, and social inclusion, has emerged as a critical factor in motivating present employees and attracting potential hires. Therefore, choosing who oversees this crucial sector is the first step for the board and the executive team.Once roles are defined, the board should challenge the CHRO (or an equivalent role) on matters that are now within their purview. These include corporate activism and reputational talent risks. Boards must also communicate the significant financial value of having a strong employer brand to investors and other external stakeholders to support the CHRO role.In addition, boards should inquire about whether the HR team has the right qualifications, experience, and support of top management. The CHRO should be subject to the same accountability standards as the other C-Suite members. The CHRO is responsible for engaging the board in important discussions about important issues that include the external market environment and an internal perspective that covers determining what talent the organization has, how to retain key personnel, understanding critical current and future skills, and how to address gaps in talent.They should also draw attention to and thoroughly evaluate the significant developments that have an impact on the firm, and they should exhort the board to adopt fresh and unusual perspectives. In order to accomplish this, the CHRO needs early access to the board so they can establish and show their credibility, trust, and transparency. They will then be able to present innovative, game-changing ideas with assurance when the time is right.And last, the board and the CHRO should keep putting first-class oversight of executive remuneration and C-suite succession planning at the top of their list of priorities. When properly implemented, the former ensures that rewards correspond to the cultural practices the organization wants to promote. Additionally, debates in boardrooms are showcasing the latter more prominently than ever due to evolving talent dynamics.RE-EXAMINE THE RISK FRAMEWORK TO SUPPORT THE TALENT AGENDATalent is frequently at the top of risk agendas for organizations worldwide. However, because risk profiles vary by industry, organization size, and various other criteria, each organization handles its talent differently. In order to determine what is best for them, boards should consult with their respective CEOs and CHROs. These conversations do not have to wait until board meetings; they can take place during routine check-ins with other board members.To avoid the temptation to micromanage, the board should discuss and decide what role it should play in supervising talent concerns as well as determine the best governance structure to support the CHRO. The board will also have to think about how to include the voice of the employees in the governance structure. They must pay attention to what employees want, even if not all requests can be granted.Executive learning is also a key area. Historically, board members tended to have extensive backgrounds in more traditional fields such as law and finance. However, the board will need to supplement these skills with new perspectives in light of new risks and difficulties. By ensuring that the board has access to and is learning from industry best practices, the CHRO can support these initiatives, helping the organization become more performance-driven and purpose-led as a result.SUPPORT CHROS IN DEVELOPING A HUMAN-CENTRIC STRATEGY AND EMPLOYEE VALUE PROPOSITIONIn order to balance the demands of the people strategy and the business strategy, as well as to create and sustain the culture of the organization, boards must narrow their focus on their people, and look more closely into what the employees need from their organization as well as what the organization needs from them.These discussions must be incorporated into the broader strategic talent plan to attract, nurture, and retain the talent required to carry out the organization strategy. The board can help the CHRO carry out this strategy by ensuring that each individual feels heard, appreciated, and supported.Board members do not need to know the specifics of employee insights, but they should be made aware of any potential risks, opportunities, and impact. They can then ensure that the organizational employee value proposition, culture, and overarching strategy all take into account the needs of various employee groups while allowing for customization where appropriate. Culture is a particularly significant factor as well; research shares that businesses which thoroughly understand and reflect their cultures outperform their competitors by a factor of three, while those with serious cultural problems falter or even fail.Boards should ensure that the cultures of their particular organization are in sync with their talent and retention strategies as they assume increased responsibility in managing this vital area. In exchange, the CHRO must thoroughly assess the organization’s employee value proposition with the board and assist in filling in any knowledge gaps.All of these discussions should be supplemented by an effective use of data. It will be easier to engage the board and win their support if they are presented with clear, succinct, and well-researched recommendations.COLLABORATING TO NAVIGATE THE TALENT LANDSCAPEThe constant disruption in recent years has only exacerbated the war for talent, requiring the CHRO role to be even more strategic as people-related risks rise to the top board agendas across the globe. In order to overcome challenges in talent, CHROs and boards must collaborate to enhance the CHRO role, supporting as well as challenging each other to navigate the talent landscape and remain competitive.This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.Lisa Marie T. Escaler is the People Advisory Services Workforce Advisory (PAS WFA) leader of SGV & Co.

20 February 2023

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Deepening the strategic value of the CHRO (First Part)

First of two partsOrganizations have been undergoing wave after wave of transformation since disruption is now a modern-day constant, and managing talent plays a key role to overcoming every obstacle that organizations encounter. The war for talent continues to heat up in today’s uncertain business landscape.In order to support and counsel the CEO on their transformation and growth strategy, Chief Human Resources Officers (CHROs) and their equivalents have had to go well beyond traditional human resources territory. However, in order to recruit, keep, and utilize the best talent now and in the future, organizations must acknowledge that talented workers have a significant amount of negotiating power.The CHRO is responsible for all things related to people in an organization, including the development and implementation of a people management strategy. This includes how to attract, onboard, engage, develop, reward, and retain the talent necessary for the organization to succeed. It also includes succession for C-Suites, change management, executive compensation, and diversity, equity and inclusion (DE&I) initiatives.In the current talent landscape, the role expands further to include purpose, culture, and well-being, which are all increasingly important factors for employees. More recently, these factors include access to more flexibility in ways of working as well as development opportunities.Boards must manage the talent agenda in a way that takes the current dynamic into account. This means ensuring that the CHRO role is elevated from business function to strategic collaborator, and that talent management continues to be a primary business focus. Additionally, it entails helping the CHRO listen to employees and influence the company to develop a human-centered culture and a more tailored employee experience.In order to better understand why the connection between the board and the CHRO is becoming more crucial, insights from EY thought leaders and clients were gathered to further uncover the strategic value of the CHRO role. These insights fueled strategies to improve the board and CHRO dynamic along with the ways of working. Instead of merely reducing potential risk, organizations can find opportunities in current, unheard-of labor trends to gain a competitive advantage.CHALLENGES IN TALENTThe responsibility of the board is to ensure that management provides the organization with the key talent it needs to execute its strategy. However, in recent years, a depleting talent pool and rising employee demands have made this difficult. The pandemic and its economic repercussions compounded the issue by creating a shift in what employees value in both their professional and personal lives — and the situation is still evolving.Talent challenges are being exacerbated by a constantly evolving environment. Just three years ago, flexible working was a differentiator or a means of achieving a competitive edge. Now, according to the EY 2022 Work Reimagined Survey, as much as 90% of the respondents said they would think about quitting their current position if flexible working was not an option. Flexibility also has different meanings, as younger individuals might prefer to work from the office more as a result of rising heating and cooling expenditures. However, those who drive or commute to work are more inclined to prefer the reverse to save money on fuel and time.A recent EY survey of graduates and interns looked into what will keep younger generations engaged and motivated due to their tendency to shift employment more frequently. Since flexibility is becoming more and more synonymous with mobility for these groups, governments all around the world need to develop policies that can compete with the attractiveness of traveling abroad for work. This reality is particularly true for the Philippines with our sizable overseas worker population.Meanwhile, since the COVID-19 pandemic started, a sizable number of the population over the age of 50 have quit working in some advanced economies. Organizations have to assess the effects of this shift while monitoring market conditions and, where necessary, think about strategies to entice this group back.Organizations are being forced to react quickly in the short term as a result of this ongoing disruption. One way is by assessing how the cost-of-living crisis is affecting employees and developing assistance strategies. However, focusing on the short term may also keep CHROs and their boards from thinking strategically. The organization must be able to assess the talent it currently has, the talent it will require in the future, and the best way to bridge the talent gap.PERCEPTION GAPS WITH EMPLOYEESBoards and their CHROs must make decisions about how to carry out commitments related to the talent agenda while navigating a rapidly shifting, occasionally contradictory reality. While they are better positioned to do so now than before the pandemic, the EY 2022 Work Reimagined Survey found that employers and employees are not always on the same page when it comes to employee engagement.For instance, when asked why they would change professions, employees most frequently cited career advancement and an increase in overall salary. On the other hand, employers say that learning, skills development, and well-being are some of the key elements to ensuring their employees can thrive. Additionally, there is a “loyalty disconnect” where employers think younger generations are less dependable. However, younger workers claim that they merely have different loyalties and values. Younger workers, for instance, place a higher priority on mental health, the mission of an organization, and its ethical standards than they do on management structures or the actual work.Organizations must act fast to close these perception gaps while maximizing the abilities of each and every worker. Putting humans at the center needs to be a strategic focus for the board and the CHRO to better understand what employees across all demographics want.CONSIDERATIONS FOR BOARDSBoards will need to ask themselves how they enhance both formal and informal talent governance to support and reflect the strategic relevance of the CHRO role. By collaborating with the CHRO, they can make sure the company stays on top of talent issues and can deal with the constantly shifting attitudes of its employees.The management group and the larger employee organization will have to determine how they uphold the culture and values of the company, as well as the systems in place to quantify this. Boards will also have to determine if the company has the necessary expertise and abilities, particularly those for future leadership, to execute its business plan.Lastly, board members must ask themselves what role they see themselves playing in developing a sustainable workforce and advancing the talent agenda. This can range from retraining the workforce and gauging the employee experience to boosting staff retention and integrating hybrid working styles into organizational culture.The second part of this article will discuss three strategies for boards and CHROs to help each other succeed: strengthening and enabling the CHRO role, re-examining the risk framework to support the talent agenda, and supporting CHROs in developing a human-centric strategy and employee value proposition.This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.Lisa Marie T. Escaler is the People Advisory Services Workforce Advisory (PAS WFA) leader of SGV & Co.