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“If HR stays on the transaction side, we’ll be out of business in 10 years,” said Conrad Venter, global head of HR at Deutsche Bank. “Business leaders will say.… ‘Where’s the value?’” and choose to outsource those transactional duties."

Instead, the most valuable HR professionals in coming years will be those who have an understanding of the business strategy and can contribute to it. “If you work in business, you have to be a businessperson first with a specialty in HR,” said Venter. “You need to speak the lingo of your business.”

CEOs want their HR leaders to break outside the operational box and become more strategic players.

However, many HR professionals are so bogged down in their daily processes that they have trouble lifting their heads out of the weeds. And they’re so busy managing the careers of employees that they lack the time to methodically assess their own job performances.

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