All companies, especially those seeking rapid growth or to disrupt the “industry” face two basic issues – scarcity of funding and a shortage of human capital. Yet human resources (HR) and the Chief Financial Officer (CFO) have historically not worked collaboratively to solve these issues. One believes “cash is king” and the other “People are our greatest asset”.
Oracle hosted a forum where a range of industry leaders agreed that aligning HR and Finance could create immediate strategic value within an organisation. The conclusion – the tide has begun to shift, especially in disruptive companies where the two siloed worlds of HR and Finance have begun to converge, with immediate results.
“As companies seek to grow, the two most likely obstacles they will face are a scarcity of funding and a shortage of human capital. To overcome these finance and talent bottlenecks, CEOs (Chief Executive Officer) are increasingly coming to rely more heavily on both the CFO and the CHRO (Chief Human Resources Officer),” said Tim Jennings, Chief Research Officer and Research Fellow at analyst firm, Ovum.
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