Elaine Page
Chief People Officer
TaxJar
Episode 256
From Cost Center to Profit Driver: HR's Path to Strategic Business Impact
Current chapter: Built by People podcast features insights from world's top HR leaders
Built By PeopleMarch 26, 2025 · 15:15
Thesis
“HR leaders must deeply integrate people strategy with business outcomes, especially financial performance, by developing strong business acumen and fostering proactive, solution-oriented HR partnerships that drive measurable value.”
Show notes
Exploring HR Leadership and Business Acumen with Elaine Page
This episode is in partnership with Transform, we are very grateful and excited to be working with this wonderful community. Go check them out here
In this episode of the Built by People podcast sponsored by Previ, host Dave D'Angelo welcomes Elaine, an accomplished HR executive with experience in leading global transformations at companies like DaVita, PepsiCo, Dun Bradstreet, Northwell Health, and Stripe.
Elaine discusses her career journey, the importance of aligning HR and business strategies, and the transformative impact of her role as a GM on her understanding of HR practices.
She offers insights on financial discipline, cross-functional collaboration, the power of relationships, and the need for HR leaders to develop strong business acumen.
00:00 Introduction to the Built by People Podcast
00:16 Sponsorship Message from Previ
00:45 Elaine's Career Journey
02:02 Lessons from Tony Robbins
03:27 Transitioning to a P&L Role
04:43 Impact of GM Experience on HR Practices
08:07 Developing Business Acumen for HR Professionals
10:36 Characteristics of Great HR Business Partners
12:20 Common Misconceptions in HR
13:30 Final Thoughts and Advice
15:07 Conclusion and Farewell
Previ is a private pricing network that is free for companies to launch and maintain. It saves employees $2,200/year on essential services like their cell phone and auto insurance bill. Visit here to learn more.
What you'll take away
- 1HR leaders must understand the financial impact of every people decision, aligning people strategy with financial performance to move HR from a 'nice-to-have' to a 'must-have'.
- 2Performance management should be continuous and real-time, involving ongoing conversations and quarterly leadership calibrations, rather than relying solely on annual evaluations.
- 3HR professionals need to proactively develop business acumen by immersing themselves in company financials, revenue drivers, cost structures, and engaging in cross-functional collaboration, even by taking on operational projects.
- 4Great HR business partners are true collaborators who bring solutions aligned with business outcomes, understanding the business strategy and proactively contributing to company goals, moving beyond transactional support.
- 5Building strong, trusting relationships across the organization is paramount for collaboration, influence, and driving success; proactively addressing challenging relationships can be a career game-changer.
What most organizations get wrong
- •Business success is not just about profits and margins; it is fundamentally about people, and the misconception that the two are separate disconnects HR from crucial business drivers.
In Elaine's words
“everything is figureoutable.”
This quote encapsulates a resilient and problem-solving mindset essential for effective leadership in any role.
“you never should say you have a problem, and that you should always reframe things to say you have a challenge to be solved.”
It highlights a powerful psychological shift in approaching obstacles, fostering a proactive and solution-oriented culture.
“When you align people strategy with financial performance, it moves beyond this nice-to-have thing to say and into something that's just a must.”
This statement articulates the core argument for HR's strategic importance and its direct link to business success.
“Clarity is everything to the team, and it's not enough to simply evaluate performance once a year.”
It emphasizes the critical need for continuous, transparent communication and feedback in performance management for sustained engagement and accountability.
“HR pros, you have to understand how your company makes money. I mean, really understand it.”
This is a direct and actionable call for HR professionals to develop deep business acumen, crucial for strategic partnership.
“A great HR business partner is a true collaborator. Right? They don't just provide advice and support. They bring solutions that are aligned with business outcomes.”
This defines the critical differentiator of an effective HR business partner, focusing on measurable value and strategic alignment.
The problems this episode addresses
- •HR leaders often focus solely on the 'people side' (talent, culture, retention) without fully grasping the financial implications of their decisions, hindering strategic impact.
- •A lack of deep integration between HR initiatives and overall business objectives can make HR appear transactional or a 'nice-to-have' rather than a critical business driver.
- •Outdated annual performance review cycles fail to provide timely, actionable feedback, leading to disengaged employees and missed opportunities for course correction.
- •HR professionals sometimes operate in isolation, lacking a comprehensive understanding of business operations, revenue drivers, and financial metrics.
- •Ineffective HR business partnerships can become bottlenecks for the business when they are not proactive, solution-oriented, or deeply aligned with business needs.
In this episode
Built by People podcast features insights from world's top HR leaders
Built by People
Dave Zirin shares a little bit about his career journey
The Secret to Your Career Journey
Elena transitioned from HR leadership to running a P&L
Having Run a P&L
Being a GM has transformed your view of HR practices, business partnerships
GM on HR and Business Partners
Elaine says HR professionals need to develop business acumen
Six Steps to Develop Business Acumen
What do you think makes a great HR business partner and an ineffective one
What Makes a Great HR Business Partner?
Most common misconceptions HR professionals have about running a business are misconceptions
What are the most common misconceptions HR professionals have about running a business
Building strong, trusting relationships across your organization will pay off in the long run
The Power of Relationships
Elaine, thanks so much for joining us on Built by People podcast
Elaine on Being Built by People
Topics covered
Organizations and entities mentioned
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