When it comes to C-suite relationships, the mandates of a CFO and CHRO may sometimes feel at odds. CFOs are charged with safeguarding the organization’s financial health, and HR — specifically, human capital — is a major cost center. But CFOs and CHROs need to work together anytime there is a big shift in business: according to a report from Mercer, most high-growth organizations understand that HR is a crucial player in spearheading major change initiatives.
A symbiotic relationship between both roles could help identify opportunities to optimize human capital and workplace productivity, as well as create solutions for high-spend areas. Healthcare costs are a perfect example. A report from the Kaiser Family Foundation found annual premiums for employer-sponsored family health coverage reached $20,576 this year, up 5% from last year. That’s the equivalent of buying an economy car — every single year.
