Why You Should Appoint a Chief Productivity Officer to the C-Corner
Thursday, September 30, 2010 at 04:09PM While most retail CEO’s have taken measures to significantly reduced expenses since 2008, you’re probably still holding your breath regarding consumer spending. So, here’s an opportunity to improve profits through improved productivity throughout your organization.
Organizationally you have all the necessary functions needed to improve company wide productivity residing in your Human Resource Group. I am strongly suggesting appointing the HR head as the Chief Productivity Officer in conjunction with his or her current title and responsibilities.
Why? Think about it. All the components needed for a well thought out strategic, productivity improvement plan already reside within the Human Resource department: hiring selection, training and development, compensation planning, including incentive planning and executive coaching. It can be done locally, regionally or globally. I believe once installed and implemented, the new CPO will be an extremely effective addition in the struggle for increased profits.
IN MY OPINION, Human Resources is where the emphasis and responsibility belongs for productivity enhancement. Given the nature of the retail business today, it is timely to name and support a Chief Productivity Officer (CPO) as a senior member of any retailer’s organization. This CPO working in conjunction with other function heads, puts a SPOTLIGHT on productivity, would own the strategy for enhancing company wide productivity, and would be responsible for its implementation.
Is there any downside? Critics could argue that the HR head is already stretched too thin. That productivity is the responsibility of the entire organization. Also why hasn’t it been done before this? All may be valid points. However, no one could argue that today’s profits are a war.
The CPO puts a “face” on the effort, someone in charge, and a leader.
It allows for building measurements, tracking and improvement programs, and keeps the pressure on. IN MY OPINION, profits over time will improve, and will be sustainable.
Its time has come.
COMING NEXT: Strategic Planning, What’s Missing?
Reader Comments (1)
Very, very nicely done!