Global CHRO Turnover Index

01

CHRO turnover rebounds

CHRO turnover at the world’s largest public companies surged 35% in Q4 2024, reaching its highest fourth-quarter level since 2019—and marking a sharp reversal from 2024’s previously low rate of CHRO churn. Overall, 43 CHROs were appointed in Q4 2024.

Our latest finding suggests a renewed interest in CHRO moves as organizations gain more clarity on their strategic direction heading into 2025. We see organizations actively seeking leaders with the expertise to drive ambitious workforce transformation strategies, reflecting CHROs’ increasingly pivotal roles in shaping organizational strategy and success.

02

Internal mobility surges

Internal CHRO promotions dominated Q4 2024, accounting for 69% of hires across the companies we analyzed. This marks a significant shift from the external hiring preference that defined the first three quarters of the year. By year-end, the internal-external hiring ratio balanced to nearly 50-50, revealing a strategic pivot in how companies are approaching CHRO succession.

This shift suggests that in turbulent times companies may favour stability over reinvention, prioritizing institutional knowledge and cultural fit. A safer bet may be a leader who knows the organization inside and out, rather than an external hire who may bring fresh ideas but pose a cultural risk. However, this trend also raises a key question: are companies assessing internal talent with the same rigor as external candidates, or simply opting for the familiar? Having a nuanced understanding of every individual leader’s capabilities – spanning their leadership potential, behavioural tendencies, and ability to adapt to organizational needs - is important when assessing their overall fit into an organization.

03

First-time CHROs take center stage

In Q4 2024, 62% of CHRO appointments were first-time CHROs, reinforcing a year-long pattern of organizations placing a greater emphasis on potential and strategic capability over tenure and experience. By the close of 2024, 54% of all incoming CHROs globally were first-time leaders in the role, compared to 52%% in 2023.

Rather than defaulting to seasoned CHROs, companies are placing big bets on high-potential HR executives, recognizing that agility, adaptability, and business acumen are key differentiators for success.

This trend highlights the growing importance of internal HR leadership development programs and succession planning, as businesses look inward to build future-ready HR leaders who can navigate workforce transformation, governance, and corporate strategy.

04

CHRO remits expand—but at different paces

The trend towards broad CHRO remits continues, but the pace of this evolution differs by industry. In the financial services space, only 11% of incoming CHROs involved expanded remits, trailing behind industrial and natural resources (22%), healthcare (19%), technology (15%), and consumer (14%) industries. Unlike the other sectors, financial services organizations remain rooted in specialized leadership models where risk, compliance, and corporate affairs are siloed under separate executives and tend to not delineate. But as other industries push the boundaries of CHRO leadership, financial services firms would be prudent to assess whether their existing approach is fit for purpose in a fast-changing world.