Global CHRO Turnover Index

We share the latest CHRO turnover data across listed companies globally. Each quarter, you’ll find the latest data on CHRO departures and appointments, as well as trends on gender diversity, tenure, and internal / external appointments.

Global CHRO Turnover Index Q2 2024: Key Trends

01	CHRO turnover declined in Q2 2024 CHRO turnover is showing signs of stabilizing, with only 39 global public company CHROs stepping down in Q2 2024—down from 50 in Q2 2023. These figures reflect CHROs from the world’s largest indices, including the ASX 200, FTSE 100, FTSE 250, and S&P 500. This stability may indicate that organizations are opting to retain their CHROs to maintain continuity amid market volatility. CHROs may also choose to remain in role as they navigate the key talent and skills shortage—rated as a top threat to organizational health by leaders.

02	Gender diversity among CHROs is increasing In Q2 2024, of the 25 CHROs who were appointed, 14 were women. This is the highest percentage of women CHROs in Q2 since 2022. Gender diversity among CHROs has increased across most indexes, except the Nikkei 225 and Nifty 50, where women remain underrepresented in the top HR role. To ensure that true gender balance is achieved at the top of all indices, we need to ensure that the way CHRO succession is planned, managed, and executed is equitable.

03	Internal CHRO appointments decrease In Q2 2024, of the 25 CHROs appointed, only 36% were hired internally for the role, compared to 56% in Q2 2023. This shift towards external appointments could indicate a strategic move by organizations to bring in fresh perspectives and new expertise to navigate the evolving challenges within the HR function and workforce alike, led by geopolitical tensions, technological disruption, and redefining corporate value. To rebalance the scales, organizations must re-look at their succession pipelines, and assess what they can do to develop more internal candidates for the CHRO role.

04	The number of first-time CHROs has declined In Q2 2024, only 40% of CHROs were first-timers, down from 52% in Q2 2023. This decline reflects a growing preference for more experienced leadership amid increasingly complex challenges, such as navigating political turmoil and uncertain economic conditions. While external hiring remains strong, organizations are prioritizing seasoned leaders who can bring stability and proven expertise, rather than taking risks on first-time CHROs. This shift towards experienced hires underscores the need for steady hands in turbulent times.

What is CHRO turnover?

CHRO turnover refers to the rate at which Chief Human Resources Officers leave their roles and are replaced within organizations. It reflects leadership stability and can indicate broad trends in HR leadership. The CHRO Turnover captures data from the following global stock indices: ASX 200, CAC 40, DAX 40, Euronext 100, FTSE100, FTSE 250, HANG SENG, Nikkei 225, NSE Nifty 50, S&P 500, S&P/TSX Composite, and STI.

How has CHRO turnover changed for public companies?

CHRO turnover has remained steady, but the approach has evolved. There is now a growing preference for external hires to bring in fresh perspectives. As a result, firms are increasingly seeking more experienced individuals who have navigated complex environments to help address their own challenges. While there’s still openness for first-time CHROs, this trend may be shifting as organizations prioritize seasoned leadership in the current climate.

Why is CHRO turnover so high for public firms globally?

CHRO turnover is high in public firms globally due to multiple factors. While workforce and global pressures can contribute to a need for leadership change, a significant driver is the turnover of CEOs.

The CHRO is often consideredthe CEO’s close confidant, so changes in turnover in top seat are likely tohave a knock-on effect on the CHRO.‍

How many CHROs were appointed globally in 2023 at public companies?

In 2023, 179 CHROs were appointed to the top HR role at public companies globally, closely mirroring the 178 CEO changes within the same period.

Notably, some organizations may not have previously had a dedicated CHRO, while others experience more than one CHRO change within the year. A more robust assessment and succession planning process could have contributed to greater stability in these roles.

How many CHROs of public companies stepped down in 2023?

In 2023, a total of 174 CHROs stepped down from their roles at public companies globally, with a notable 59 departures from S&P 500 organizations, 17 from the ASX, and 8 from the FTSE 100. Since Q1 2023, 72% of the outbound FTSE 100 CHROs who joined boards are women, with these boards averaging 41% diversity, compared to 28% for those with CHROs who are men.

What is the proportion of women CHRO appointments at public firms in 2023?

In 2023, women made up 61% of all CHRO appointments at public firms globally. Historically, from 2018 to 2024, the average proportion of female CHRO appointments has been 67%.

What proportion of new CHROs of public companies were first-time CHROs?

In 2023, 53% of new CHRO appointments at public companies were first-time CHROs. Historically, from 2018 to 2024, the average proportion of first-time CHROs has been 57%.

What’s the average tenure of CHROs at publicly listed companies?

The average tenure of CHROs at publicly listed companies is 4.2 years, with a range spanning from 0.8 to 17.3 years.

Disclosures

The CHRO Turnover index is based on the most current and reliable information, focusing on HR Executives who hold the top HR position within their organizations. As executive roles and reporting practices are dynamic, some changes may not be immediately reflected, and figures may adjust quarterly as new appointments are retroactively announced.

Global CHRO advisory leaders

Our global Human Resources Officers team provides strategic insights and guidance to tackle your most complex HR leadership challenges. We work with you to create tailored solutions that strengthen your organization’s leadership and drive impactful change.

Jason Kipkala is the Commercial Operations Leader for Russell Reynolds Associates’ Global Legal, Risk, & Compliance Officers and Human Resources Officers capabilities. He is based in Toronto.

Global CHRO Turnover Index