For many HR pros, the object of the game is to become a CHRO or CPO. But how are today’s people leaders getting to the finish line? Let’s roll the dice and dive into it.
Section 1: Object of the game
HR has gained a foothold in the C-suite in recent years. This is evidenced by the fact that S&P 1500 companies are appointing more chief human resource officers (CHROs) and chief people officers (CPOs) to the top role, eclipsing less senior-sounding titles like “HR director,” according to research led by Stanford economist Nick Bloom.
Despite this progress, the path to the C-suite remains somewhat elusive. This is particularly true for those hoping to ascend the top of the HR ladder at their own companies: A 2023 survey of CHROs found just 40% were hired internally; by contrast, 52% of CFOs queried the same year were promoted from within their organizations. More recent data from executive search firm Russell Reynolds indicates nearly two-thirds (64%) of incoming CHROs in Q2 2024 were external appointments.
Section 2: Preparation
For some aspiring CHROs and CPOs, finding the right mentors to guide them along the road to the C-suite is key. Executives from Colgate-Palmolive and Applied Materials spoke with HR Brew about how their own experiences with mentorship shaped their approach to developing talent later in their careers. In some cases, they mentored employees who went on to replace them in the top HR role at their own organizations.
Other HR executives said they found it essential to cast a wide net when cultivating mentors in the industry. Networking with colleagues outside their firms, and their areas of expertise, helped them develop versatile skill-sets valued in the C-suite.
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Section 3: The Play
A few companies stand out as particularly good places for HR to play the game of getting to the C-suite. Consultancies, where HR pros get direct exposure to the business, aren’t a bad place to cut your teeth.
One firm that stands out among the rest is Accenture: At least two dozen alumni went on to become CHROs or CPOs at other firms, according to former CHRO Jill Smart. After freelance or self-employed roles, a job at Accenture was the most common work experience for HR pros prior to entering the C-suite, with 0.64% of CHROs or CPOs spending time at the Chicago-based firm, according to a data analysis of more than 16,400 current CHROs and CPOs from employment data provider Live Data Technologies.
Section 4: Chance
There’s value to going it alone, as well. After all, freelance or self-employed gigs are still the most common roles CHROs and CPOs held before nabbing the top HR job, according to the Live Data analysis.
Some former CHROs and CPOs HR Brew spoke with ultimately decided they wanted to go work for themselves after making it to the C-suite. While consulting has its own challenges, it also provides these HR pros with opportunities to effect change without having to answer to one CEO or board of directors.