When I returned to the world of HR after two years in the non-HR wilderness, many of my former contacts asked me what had changed about the profession in my time away. My answer: materially not that much, but what had shifted hugely was the context.
External factors like new regulation around reporting (see gender pay gap and pay ratios), the #metoo movement, and increasing noise and interest around organisational cultures put people workplace issues front and centre of the national debate. This provides a very real opportunity for the profession to step up and make a positive difference at the highest levels – what a time to be leading in the people profession.
It is against this backdrop that the CIPD recently convened another CHRO meeting on corporate governance, in partnership with the Financial Reporting Council, the corporate governance regulator. (We also held an HR leader meeting about this topic in Edinburgh in September.) Bringing together a group of CHROs from a range of sectors, from financial services to engineering, travel to media, the aim was to discuss the impact of recent changes to the Corporate Governance Code, which requires PLCs to report on issues like employee voice and culture, and the opportunity for HRDs to take more of a lead on governance.
Here are some of the key areas to come out of the discussion:
In a 90-minute conversation, we barely scratched the surface of this complex and timely topic. It’s something we will be continuing to discuss, aiming to create change in how organisations are assessed and valued.
Next steps include more CHRO roundtables and conversations with the FRC. The CIPD will publish a whitepaper on this topic next spring. To express interest in getting involved in this agenda, email Katie Jacobs (firstname.lastname@example.org).
Katie Jacobs is senior stakeholder at the CIPD and a former business and HR journalist.
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