1. The New Key Executive – HR Director
Written by: Patty Miller, Vice President, Willis, January 2015
CEOs and finance executives are challenged with a number of different priorities in 2015. With the fast-
paced ever-changing global and technological environment employers are working in today, the C-suite
is developing a deeper rapport with their organizations’ department heads. HR directors, who in the
past were often viewed more as compliance enforcers, are now key executives. The need to align HR
with the business has become more urgent than ever. According to the Conference Board, CEO
Challenge 2014, human capital is the top concern for leaders.
What are the new expectations for HR directors? HR leaders should play a key role in strategic planning,
including discussions about organization workforce demographics, performance management,
succession planning, and health insurance risk mitigation. To prepare for this role, it is imperative that
HR directors are armed with fact-based reporting.
According to The Rising Tide of Finance Challengesi
, there are five priority areas for the C-suite this year.
HR directors will be able to contribute to three of the five:
 Cash remains king, as does cash clarity — Those in finance functions are striving to gain greater
visibility toward the “cash” horizon by strengthening strategic planning, sharpening business and
competitive intelligence, fortifying risk management, and honing forecasting. They are also
readying themselves for challenges that may materialize, most notably shoring up working
capital management capabilities (especially cash forecasting) as a way to enhance organizational
agility.
 More and improved analysis is paramount — Those in finance functions place more importance
than ever on strategic planning, risk management, executive dashboards, profitability analysis
and other strategic areas of financial analysis. At the same time, they continue to seek
opportunities to improve the close process and transparency of the results to support financial
analysis.
 There’s hunger for a more holistic approach — Rather than applying patchwork fixes to
individual processes, finance people want to manage and improve related processes in a
comprehensive manner. Strategic planning, budgeting and forecasting rank among the highest
priorities in the entire study, which demonstrates an intent to strengthen overall corporate
performance management. A similar approach is evident in priorities related to working capital
management.
 Getting the right talent in the right place is a formidable challenge — Complex regulatory
compliance requirements and domestic tax laws, new accounting standards, looming changes
on the international front (particularly related to transfer pricing), as well as emerging needs to
analyze big data, are challenging those in finance functions to find, attract and retain
knowledgeable and experienced staff with technical and analytical expertise to address these
priorities effectively.
 Soft skills have hard value — Finance people are placing greater emphasis on cultivating
stronger communication, collaboration and relationship-building skills throughout the ranks.

2. The New Key Executive – HR Director
Written by: Patty Miller, Vice President, Willis, January 2015
Let’s start with the fourth priority: getting talent in the right place. Employee recruitment and retention
usually falls within the HR department’s responsibilities. HR directors should rely on demographic and
trend analysis of the current workforce to begin discussions of future new hires, training, HIPO
identification, succession planning, and performance management programs. Look at talent as the
heartbeat of a corporation. Create total compensation strategies driven by the corporate business plan.
HR directors must be prepared to discuss solutions for solving organizational talent issues, and be
strategic in their thought process as well as show how these issues impact organizational performance.
The C-suite responds to facts, so reports should be tailored to analysis. Short- and long-term plans for
implementing change should be created, and budgeting information should be addressed in executive
reports, along with recruitment costs and any new technology desired to streamline processes. When
requesting a budget, HR directors must be sure to include an expected ROI (return on investment).
Strategic planning and risk management and improved analysis are areas in which HR directors can
contribute. Health insurance is typically one of an organization’s top 10 expenditures. By creating a
short- and long-term strategic plan, with creative risk-mitigating ideas, transparency, and year-over-year
analysis, HR directors’ input will affect corporate bottom lines. Executives will rely on HR to present data
analytics to support their recommendations.
Considering the varying demographics in a workforce, developing strong communications within an
organization is challenging. Again, a demographic analysis is a good starting point. By understanding the
current workforce, HR directors will know what communication approaches the organization should
take. Multiple channels will likely be needed.
HR directors need to be analytical or surround themselves with strategic partners who will ease the
administrative burden of creating data analytical reports the C-suite expects. The days of vendor
partners taking HR directors to lunch to earn their business are gone—vendors now must add real value
to impact organizational performance.
The new SHRM–CP and SHRM–SCP certifications are worthwhile programs HR directors and their teams
can obtain. These new programs arm HR with four areas of technical competency: People, Organization,
Workplace and Strategy; along with eight areas of behavioral competencies: Consultation, Critical
Evaluation, Global and Cultural Effectiveness, Communication, Business Acumen, Ethical Practice,
Relationship Management and Leadership & Navigation. It is vital for HR directors to become strategic
partners with the CFO and CEO to ensure long-term career success.
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The Rising Tide of Finance Challenges - Protiviti 2015 Finance Priorities Survey Produced for Financial Executives
Research Foundation