When HR puts culture onto CEO agendas
May 2, 2019 · by Richard Farkas
We know from recent research by PriceWaterhouseCoopers that CEOs are looking at operational efficiencies as a way to drive growth at this time of global economic uncertainty.
Human Resources professionals are especially well-placed to bring solutions to CEOs looking to boost business through more efficient operations.
In the Argonaut team, we see a strong link between the PWC research and earlier research by the British Council into the business value of intercultural skills.
HR investment in cultural skills targets multiple benefits
The BC research found that HR people across different sectors were investing in intercultural skills in order to achieve more efficiency within teams.
HR people have known for a long time that cultural fit brings greater employee effectiveness, which saves costs and builds revenue in multiple ways.
HR designing intercultural interventions
Now there are increasingly robust methods for building intercultural skills and enabling organisations to achieve more of these business benefits.
This is an opportunity for HR. When a CEO is looking to make operational efficiencies, we know that this often translates into out-sourcing, lay-offs, job-cuts, down-sizing and other measures which can damage employee engagement the longer-term development of the organisation.
HR can bring an alternative which is a proven motor for revenue growth. With well-designed, targeted interventions, the benefits can appear quite rapidly in business bottom lines.
Culture impacts half the Top 8 agenda items for CEOs
And it’s not just in response to economic pressure that HR can bring intercultural solutions to drive revenue growth. PwC’s research shows a “Top Eight” of issues on the CEO agenda where intercultural skills can be the success factor unlocking business benefits in a least half of the categories.
In tough times as well as good times, HR professionals who know how to design high-impact intercultural interventions can be the revenue-boosting heroes of their organisation.