CPO Leadership Matters: An Interview with Liz Watchman, Senior People Leader

Liz is the former Chief People Officer of Jurlique, a premium Australian skincare and cosmetics company. Liz has previously held senior people & culture roles at Fonterra, Babcock International Group and ARTC.

Our CPO Leadership Matters series highlights the complex and far-reaching role of Chief People Officers, as their role in the boardroom becomes increasingly prominent. Through the voices of top people leaders, we discover how the CPO can align the people function with commercial objectives and transform conventional practices into strategic assets. 

Looking back on your career, how has your perspective on effective people leadership evolved over time?

My journey evolved through a mix of opportunity and timing. At Fonterra, I was fortunate to work not only in New Zealand’s large milk products division but also in China. That experience broadened my perspective, helping me understand how culture shapes communication, operations, and people practices in ways that differ significantly from those in the West.

Later, I worked in a global group people strategy role, partnering with divisional people directors across all regions to shape and adapt a unified people strategy. This experience underscored the importance of tailoring approaches to each market’s maturity, environment, and cultural context. 

To be an effective CPO, you must be a business leader first, not just a functional expert. Strategy doesn’t cascade in a straight line; it must be embedded in the reality of each market.

How do you approach designing a people and culture strategy that supports business growth while fostering a compelling employee experience?

For me, it all starts with deeply understanding the business, why it exists, where it’s going, and how we’ll get there. That “how” is where the people strategy comes in. But it can’t be created in isolation, it must be co-created with leaders, employees, and ideally, customers too. That’s how you get real context, prioritise effectively, and build something that works. 

Equally important is shared accountability. A people strategy isn’t just for the people & culture team because it’s owned by the whole organisation. This co-creation helps to ensure buy-in, relevance, and alignment with what truly matters.

Often there is a lot to do, so it’s about understanding interdependencies and building strong foundations first, like having the employee lifecycle and experience in place. If they are well executed, these are essential to performance and engagement.

Gallup’s engagement survey is also a good measure as it highlights: do people know what’s expected of them? Do they have the tools to succeed? That’s the core of a good people strategy. From there, it’s about enabling individual contribution, feedback, and team effectiveness, all tied back to delivering the strategy. It’s a more dynamic, context-driven approach to cascading strategy, and when done well, it really lands.

How do you personally navigate the balance between strategic leadership and the day-to-day realities of delivering strong people outcomes?

A great CPO is a “strategical” person, being strategic as well as tactical. Where you spend your time matters, and it must create value. That starts with clarity on where value lies long-term, while managing short-term priorities. 

On the tactical side, stay connected enough to spot risks and upcoming shifts, while empowering your team to own the day-to-day. Ideally, they help shape the strategy and then lead its deployment. That balance of big-picture focus with tactical awareness is what makes a CPO effective.

Which workforce or leadership trends do you see as most influential for the future?

We’re seeing a shift from a generational perspective. Gen X and Millennials are shaping brand expectations as the focus grows on sustainable sourcing, social responsibility, environmental accountability, and inclusivity. These values also influence employee experience as wellness, autonomy, purpose, and meaningful contribution matter more than ever.

Leaders need to understand and communicate these evolving expectations in a relatable way. At the same time, AI is transforming the landscape. With four generations in the workforce, adaptability and curiosity vary widely, making it critical for CPOs to navigate this change thoughtfully.

The role now demands helping leaders build new capabilities, embrace learning, and lead with self-awareness. Change is complex, and clarity will never be perfect but guiding people through uncertainty with responsibility and empathy is key.

In your view, how can CPOs elevate their influence and play a more central role in shaping broader business strategy?

Understanding the business is key: why we exist, where we’re headed, and our strategy. You also need to grasp the broader environment and market drivers, and how they connect to people. That means doing the work to stay informed and asking sharp, strategic questions. For example, if we're exploring a move into a new industry, ask: Has this been tested? What are the opportunity costs? Good questions earn you a seat at the table. 

What advice would you share with aspiring CPOs who want to build a meaningful career and make a lasting impact?

Understand commercial drivers, the P&L and what challenges your leaders are facing. Get involved in cross-functional projects for broader exposure, and if you can, take a role outside of P&C to deepen your perspective.

Mentorship matters, so seek mentors beyond P&C - such as a CFO or finance partner - who can help you connect the dots from a commercial lens.

Be a lifelong learner, whether it’s innovation, neuroscience, or your own response to change. Self-awareness helps you better support others through theirs. And know the P&C disciplines; you don’t need to master them all but understanding how they connect is essential.

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