Compensation Committee Leadership Network, January 2018
Directors and senior managers often say that their companies’ most valuable assets are their people, and boards typically take the lead in the selection and development of the CEO and other top executives. Today that role is challenging boards more than ever, as they face shortages of executive talent and shifting strategic priorities requiring different executive skills. In addition, boards are looking more broadly at the issue of talent, spending more time ensuring that their companies are taking steps to recruit, retain, and retrain the best employees at all levels of the organization. The responsibilities and skill requirements of the chief human resources officer (CHRO) and the human resources (HR) function are evolving, and directors are working more closely with both the CHRO and the HR staff.
On November 30 and December 1, 2017, Compensation Committee Leadership Network (CCLN) members met in New York to discuss the evolving role of boards in talent management. For the session on December 1, members were joined by two guests with extensive experience as CHROs: Larry Costello, former CHRO at Tyco, and Kevin Cox, CHRO at American Express.