“Why HR Matters: The Fourth Annual Board of Directors Human Capital Institute” was convened in New York City on Friday, September 12, 2014 by global executive search firm CTPartners. The daylong event offered an insightful and timely examination of the role, relevance, and impact of HR leadership, with a special focus on the essential relationship between CHROs and CEOs. With a distinguished group of panelists, attendees included executives from leading corporations, financial institutions, and nonprofit organizations from around the world. View the full report here: http://issuu.com/ctpartners/docs/ctp_boardhrinstitute?e=6509489/9833568

2. Tim Huval, Senior Vice President, Chief Human Resources Officer, Humana Inc.
WELCOMING REMARKS “This ties back to building a culture
• “Why HR Matters: The Fourth Annual Board of Directors Human Capital
Institute” was convened in New York City on Friday, September 12, 2014 by
global executive search firm CTPartners.
that is based on core values. Core
values give you a foundation which
allows you to focus less on rules
and procedures, and more on
following the values of
the organization.”
• The daylong event offered an insightful and timely examination of the role, relevance, and
impact of HR leadership, with a special focus on the essential relationship between CHROs
and CEOs.
• Brian M. Sullivan, CEO of CTPartners, kicked off the event with a warm welcome to all participants,
emphasizing how pleased and proud he was to be hosting the Institute for the fourth time.
• Mr. Sullivan noted, “Each year, it’s our goal to create meaningful
dialogue, healthy debate, even some controversy. But the
underlying goal is to do our part to help drive conversation about
what makes good HR and what makes effective HR involvement
with the board.”
Brian Sullivan
• He added, “We will all acknowledge that HR as a profession is often under attack… We
have a group of world-class HR executives here, and a couple hundred more are outside
this room, but there is a problem that needs to be solved. World-class HR leaders
number in the hundreds, not the thousands, and that is a problem we need to solve.”
• Mr. Kaplan concluded his introductory remarks by explaining this year’s focus on the CEO-CHRO
relationship. “As we thought about today’s key themes,” he explained, “we
recognized that it takes a team. You can’t find a world-class CHRO who doesn’t have a
partner in a world-class CEO who understands the value that HR can deliver.”
Daniel Kaplan
Read the full report here

3. CATCHING UP WITH THE CORNER OFFICE:
A CONVERSATION WITH BIOGEN
IDEC’S CEO AND CHRO
Moderator: Michael Feiner, Senior Advisor,
Human Capital, at Irving Place Capital, previously SVP
and Chief People Officer for PepsiCo’s beverage
operations worldwide
Panellists: Dr.George A. Scangos, CEO
Biogen Idec and and Kenneth DiPietro,
Biogen’s Executive Vice President, Human Resources
A behind-the-scenes look at some of the challenges, strategies, and
accomplishments associated with Biogen Idec’s remarkable transformation since
CEO George A. Scangos, Ph.D., took the helm in 2010.
Key Insights | On the corporate vision
Dr. George A. Scangos: “Do great science, great medicine, and bring these to the patients as
quickly as possible. We put patients at the center. That’s what drives us. Putting patients at the
center of the culture and helping people to understand how they need to behave to achieve our
goals—that is what we have worked at.”
Dr. George A. Scangos
Key Insights | On the importance of selecting the right CHRO
Dr. George A. Scangos: “It took almost a year to find someone to run human resources
who had sufficient experience, character, and other attributes we felt we needed. But it
was better to wait and find the right person than to settle for someone who wasn’t the
best.”
Kenneth DiPietro: “When I joined, George gave me great freedom to learn. I spent a lot of
time listening and developing relationships.”
Kenneth DiPietro
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4. THE CHANGING WATERS OF
HR IN EUROPE
Key Topics included maintaining a business and operational focus for HR
priorities, recognizing the powerful influence of straight talk and personal
integrity, and remembering that a company’s performance is driven by its
people.
Moderator: Tim Kemp, London-based
Partner who leads the CTPartnersHR Practice
in Europe.
Panellists: Michael Kerr, Group HR
Director at Aston Martin Lagonda Ltd.,
formerly holding leading HR roles at West
Ham United, Intertek, Aviva and HSBC, and
Tony McCarthy, most recently Global
HR Director at ENRC, previously holding top
HR positions at British Airways, Royal Mail
Group, and BAE Systems.
Key Insights | On integrity and straight talk
Michael Kerr : “Effective human resources management requires integrity in
the HR function and integrity in how you project yourself as a leader. You
also need straight talk. … You need that piece of straight talk in your kit bag
to help employees develop by understanding how they are perceived in the
business, however painful it may be.”
Tony McCarthy
Key Insights | On people driving performance
Tony McCarthy : “When I began attending (Royal Mail) company meetings,
I noticed they never talked about people issues…. three years later, half of
every company meeting was spent talking about people issues, the
company was profitable, bullying and harassment issues were down, and
Royal Mail was meeting its delivery promise to customers. And this change
began with talking with people.” Left to right: Tony McCarthy, Michael Kerr, Tim Kemp
Read the full report here

5. CATCHING UP WITH THE CORNER
OFFICE: A CONVERSATION WITH
TIAA-CREF’S CEO AND CHRO
Moderator: Jim Shanley, Partner, The
Shanley Group, and former long-time Chief
Talent Officer at Bank of America.
Panellists: Roger W. Ferguson, Jr.
President and Chief Executive Officer at
TIAA-CREF since 2008, and Otha
“Skip” Spriggs, Executive Vice
President and Chief Human Resources Officer
at TIAA-CREF, joining in 2012.
Panel Three turned the spotlight on the successful CEO-CHRO partnership at
TIAA-CREF, which has navigated a veritable wave of growth-oriented
transformation.
Key Insights | ON culture and leadership
Skip Spriggs: As we continue to grow and diversify, our board is very conscious of ‘are you
moving fast enough?’ and ‘don’t move too fast.’ That’s an important balance.
Roger Ferguson: With few exceptions, the entire senior leadership team that I had when I
joined has moved on. With that degree of change at the top, you need to think about what is
consistent. Culture is strong here. We are a mission-driven, values-driven organization.
Everyone needs to Left to right: Jim Shanley, Roger Ferguson, Skip Spriggs understand what is not going to change.
Key Insights | | ON the CHRO role at TIAA-CREF
Roger Ferguson: When I started, we had less than 6,900 employees. By the end of this year, we’ll have about 11,000. So, we had a
fairly aspirational strategy, plans for lots of change—we needed a CHRO who could lead around all that transformation.
Skip Spriggs: So many elements convinced me to step into this role…That first interview with Roger was a decision-maker. We spent
very little time talking about HR itself. We talked about the business. Roger was clear about the role he expected HR to play as a
leader.
Read the full report here

6. CATCHING UP WITH THE CORNER OFFICE:
A CONVERSATION WITH HUMANA’S CEO
AND CHRO
During the tenure of the two leaders at Humana thus far, the stock price has nearly
doubled while employee engagement measures in the 91st percentile. Topics of
conversation included the value-driven and customer-centric business model,
strategies for building sustainable leadership, and impactful CHRO capabilities.
Moderator: Jim Shanley, Partner, The
Shanley Group.
Panellists: Bruce D. Broussard,
President and Chief Executive Officer
Humana Inc., and Tim Huval,
Humana’s Senior Vice President and Chief
Human Resources Officer.
Third, I needed a person who could help me with
blind spots. As a CEO, in particular, things are often
presented to you so that they look good on the
surface, but there might be disaster lurking in the
background. I wanted a CHRO who could help me
to see beyond that surface view, to suggest the
right questions to help me dig deeper.
Left to right: Jim Shanley, Bruce Broussard
Key Insights | ON spider webs and sustainable leadership
Bruce Broussard: We want to remove that central leader as the only
decision-maker, and have decision-making flow to all the individuals around
the circle, which looks something like a spider web when you draw it.
Tim Huval: The spider web of decision-making is easy to draw, but it is
much harder to bring to life. The sustainable leadership model is something
we intend to stay focused on, and it will take a great deal of work.
Key Insights | ON finding the right CHRO
Bruce Broussard: I had a number of goals as I searched for a CHRO partner.
First, I was looking for a person I could trust in candid conversations and
when bouncing around ideas. Second, I wanted a person who would carry
influence in other parts of the organization.
Read the full report here

7. CATCHING UP WITH THE CORNER
OFFICE: A CONVERSATION WITH VOYA
FINANCIAL’S CEO AND CHRO
Key Insights | ON signing up for this journey
Kevin Silva: “When deciding to join Voya, I knew there was a critical point in the
interview process where it was appropriate to ask: Who is Rod? What are his values
and how would they align with mine?”
Rodney Martin: “I fully understood coming into this role that the capital we had was
the capital we would have to work with. We had to change our former focus from
when the company was operating as a division of ING.”
Moderator: Joseph R. McCabe, Vice
Chairman with CTPartners.
Panellists: Rodney O. Martin, Jr,
Chairman and CEO and Executive Vice
President and Chief Human Resources Officer
Kevin D. Silva, at Voya Financial, the
former American insurance unit of ING Groep
NV.
After a spinoff from its Dutch parent company, an IPO in 2013, and a secondary
common stock sale just days before the CTPartners conference, the CEO-CHRO team
at Voya Financial had a great deal to talk about.
Key Insights | ON building momentum
Left to right: Joseph McCabe, Rodney Martin, Kevin Silva
Kevin Silva: “Members of our senior team signed up for this climb one at a time. The key members
of their teams signed up one at a time. It was a steady building process. Slowly and surely the
vision came through, and now we have momentum as well as the vision.”
Rodney Martin: “One of the issues that we talk about a lot among our management team is that
competitors aren’t standing still, either. We not only have to raise people’s “heads” in the
marketplace, but also within the industry.”
Kevin Silva
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8. SHOULD HR BE SPLIT UP?
A RESPONSE AND DISCUSSION
Panellists: Richard Antoine, ,
President, National Academy of Human
Resources; President, AO Consulting; and
former Global HR Officer for Procter &
Gamble; and CTPartners CEO Brian M.
Sullivan, and CTPartnersManaging
Partner and Global Head of the Human
Resource Practice Daniel Kaplan
The final panel of the day gathered to discuss a controversial recent article that suggests
companies would be best served by splitting the HR function into two parts.
Key Insights | On underselling the value of HR career experiences
Brian Sullivan: “. The CHRO’s role is to be frank with the CEO and the executive team, with no
other agenda than the betterment of the organization. That is not the mandate of any other
C-Suite role. I think Ram missed it entirely here.”
Key Insights | Closing the discussion
Daniel Kaplan: “Think about the meaning you project
if you say, ‘I am not an HR leader. I am a business
leader.’ No CFO says, ‘I am not a financial leader, I am
a business leader.’ When we cut the legs out from
under our profession in that way, we create the
problem of maintaining respect for the HR function.”
Key Insights | On the CEO’s role in fostering effective HR within a company
Richard Antoine: “What’s missing from Ram’s analysis are the expectations of the CEO for HR. In
some part, the ability to be a great CHRO has to come from the CEO empowering and expecting
much of the CHRO. There is clearly a role for the CEO in building a strong CHRO partner.”
Left to right: Richard Antoine, Brian Sullivan
Daniel Kaplan
Read the full report here

9. TOP TAKEAWAYS FROM
THE INSTITUTE
Brian Sullivan, CEO, CTPartners
“The skill sets of a top CHRO are
complex. They are the most challenging
skills to measure, and they deal with the
most valuable asset of a corporation—its
people”
• It takes a team. World-class CHROs are almost always on the team of a world-class
CEO who understands the value that HR can deliver and helps make that
happen.
• Encourage candor. Cultivating honest and effective communications in all
corporate meetings should be a key priority.
• It pays to talk about it. Dramatic business transformations sometimes begin
simply by talking with employees.
• Consistent values matter. Especially in a rapidly changing business
environment, employees need to know that core corporate values are not
going to change.
• Healthy companies require sustainable leadership. Encouraging broader
participation in decision-making builds sustainable leadership.
• Corporate culture must be nurtured—and respected. The real culture for any
organization is the sum of the decisions that a company makes every day.
• Great CHROs cultivate business knowledge. Top HR leaders develop their
teams by ensuring diverse human resources and line operations experiences.
Left to right: Brian Sullivan, Richard Antoine
Read the full report here

10. About CTPartners
CTPartners is a leading global executive search firm that is designed to deliver in-depth expertise, creative
strategies, and outstanding results to clients worldwide.
Committed to a philosophy of partnering with its clients, CTPartners offers a proven track record in C-Suite,
top executive, and board searches, as well as extensive experience in serving private equity and
venture capital firms.
Headquartered in New York,
CTPartners has 31 offices in 18
countries.
Our Expertise
CTPartners serves clients with a global organization of more than 500 professionals and employees,
offering expertise in board advisory services, key leadership functions, and executive recruiting services in
the financial services, life sciences, industrial, professional services, retail and consumer, and technology,
media and telecom industries.
Our Track Record
CTPartners’ focus is straightforward: Place the right executive in the chair. Evidence of CTPartners’ ability
to get the job done is its 80% placement success rate and average days to placement of 149 days in 2013.
CTPartners has a stick rate of 87% for the 18-month period ending on June 30, 2013.
Our Approach
Methodologies used include our proprietary technology, ClientNet®, a technology tool that permits clients
to access password-protected information over the Internet from any place, at any time, to check the
status of their search engagements, and the 40-Day Audit™ processes, a comprehensive assessment tool
that provides formal feedback and insures search milestones are met according to plan.
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