Nadia Chauhan, the Chief Marketing Officer and Joint Managing Director of Parle Agro, recently shared her insights on the role of a commercially astute CHRO (Chief Human Resources Officer) in driving business growth. According to Chauhan, a CHRO should not only be focused on policy and procedure but also have a deep understanding of the business and its commercial aspects.
Chauhan emphasized that a commercially astute CHRO is essential in today’s fast-paced business environment, where HR is no longer just about administrative tasks but about driving business outcomes. She highlighted the importance of HR leaders being able to speak the language of business and understand the financial implications of their decisions.
To achieve this, Chauhan suggested that CHROs should have a strong grasp of the company’s profit and loss (P&L) statement and be able to analyze data to inform their decisions. They should also be able to identify areas where HR can drive cost savings and revenue growth, and develop strategies to achieve these goals.
Chauhan also stressed the importance of CHROs being able to balance the needs of the business with the needs of its employees. She noted that a commercially astute CHRO should be able to develop HR initiatives that not only support business objectives but also enhance the employee experience and drive engagement.
In addition, Chauhan emphasized the need for CHROs to be agile and adaptable in a rapidly changing business environment. She suggested that they should be able to pivot quickly in response to changing market conditions and develop innovative solutions to stay ahead of the competition.
Overall, Chauhan’s insights highlight the evolving role of the CHRO in driving business growth and the importance of commercial acumen in HR leadership. By developing a deep understanding of the business and its commercial aspects, CHROs can drive business outcomes, enhance the employee experience, and contribute to the company’s bottom line.
As Chauhan noted, a commercially astute CHRO is no longer a nice-to-have but a must-have in today’s business environment. By prioritizing commercial acumen and business outcomes, HR leaders can elevate their role and contribute to the company’s success. Chauhan’s comments are a testament to the changing landscape of HR and the need for HR leaders to be strategic business partners who can drive growth and profitability.