Productivity Through People: New Opportunities for CHROs
Our Privacy Policy has been updated! The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you acknowledge our privacy policy and consent to the use of cookies. 

Future of Work

Productivity Through People: New Opportunities for CHROs

/ Report

Productivity is achieved by optimally using resources to effect better outcomes for people, firms, and the economy. However, for almost two decades, measured productivity growth has been persistently weak in Europe and other advanced economies.

As the workplace transforms, chief human resource officers (CHROs) have new opportunities to activate six specific people-based levers to spur productivity and bring their insights to the C-Suite to contribute to a more strategic discussion on productivity.

This report was created in partnership with The Productivity Institute, a UK-based research institute.

Trusted Insights for What’s Ahead™

Productivity is achieved by optimally using resources to effect better outcomes for people, firms, and the economy. However, for almost two decades, measured productivity growth has been persistently weak in Europe and other advanced economies.

As the workplace transforms, chief human resource officers (CHROs) have new opportunities to activate six specific people-based levers to spur productivity and bring their insights to the C-Suite to contribute to a more strategic discussion on productivity.

This report was created in partnership with The Productivity Institute, a UK-based research institute.

Trusted Insights for What’s Ahead™

  • Productivity growth is vital for business growth, economic progression, and improved living standards and social well-being. For a firm, productivity growth increases competitiveness through lower prices and/or better-quality products, frees up resources to invest, and creates greater opportunity to enhance stakeholder value. Productive firms have a talent advantage as productive workers are highly engaged, and are attracted to and stay with high-performing and growing businesses. CHROs who focus their people strategies on productivity can improve business outcomes, and enhance talent attraction and retention.
  • Mobilize the people function. As part of their productivity strategies, CHROs may need to build a new understanding and narrative about productivity among human resources (HR) leaders. Our discussions revealed that HR leaders often have siloed approaches to productivity or may lack a common understanding of what it is. A consistent and strategic narrative around people-based productivity can energize and align leaders around shared concepts, levers, and metrics of productivity.
  • Human capital strategy can help to close the productivity gap compared to the top-performing firms. A large gap exists between the top 10% of corporate performers and medium performers in the same industries—and the gap is widening, Evidence from leading firms suggests that the most productive firms succeed partly through better management practices, as well as more engaged and skilled workers. CHROs therefore play a critical role in strategizing for productivity growth.
  • CHROs can improve people’s productivity through six key human capital drivers:
    • Skills building;
    • High-quality leadership and management; 
    • Transformative work design (increasingly enabled through technology adoption and artificial intelligence [AI]);
    • Organizational agility and resilience;
    • Diversity; and
    • Worker well-being and engagement.

CHROs need to review thei

This publication is only available to Members. Please sign in to your myTCBTM account to access it. To learn more about becoming a Member, click here. To check if your company is a Member, click here
 

Keep my computer signed in

 

By Clicking 'Create Account',
You Agree To Our Terms Of Use

Members of The Conference Board get exclusive access to Trusted Insights for What’s AheadTM through publications, Conferences and events, webcasts, podcasts, data & analysis, and Member Communities.

Authors

Other Related Resources

hubCircleImage