Chief HR Officer Impact on Bottom Line Grows

October 8, 2013 – According to findings from a customer analysis by SuccessFactors, effective talent management is a key driver of business growth. The study, which highlights the importance of having Chief HR Officers (CHROs) on the executive board, identified companies with an HR executive in their C-suite as high performers. These companies are on average 105 percent more profitable than their industry peers, who don’t have HR representation on the executive board. The research also reports on the need for businesses to create robust HR functions and invest in effective technology solutions. “We found having a CHRO is correlated to a company’s bottom line, demonstrating the important connection between effective talent management and business performance. But simply having a CHRO is not enough,” said Shawn Price, president, SuccessFactors, SAP Cloud. “Today companies equally benefit from leveraging the insights that only come from advanced, connected HCM solutions that manage the entire employee lifecycle – from recruit to retire – taking the role from transactional to strategic and even predictive.”