6 steps to your People Strategy Plan
27 Jan 2015
Every business has, or should have, their Business Strategy Plan lined out. At some point in time you have sat down and really contemplated what you want to achieve as a business or as an entrepreneur. But have you developed your People Strategy Plan? If you have not, this is the time.
Every day people ask me, ‘how do I most effectively execute my business plan?’ Every day I tell them ‘you need to create a people strategy plan in order to execute your business plan.’ Your people strategy plan is the key to making your business strategy work – you have to have the right people lined up to make it happen.
Think of your business as a sports team. When a team has their people aligned properly they can execute a winning season. Without it, you’re going to be fighting an uphill battle – no fun!
Okay, but why is a People Strategy Plan so important? Simply put, because your people are your most important resource. Many businesses are failing to execute their business strategy plan because they are not pushing the message down through the organization.
Not only do your employees not know your business strategy plan, but a recent study found that only 50% of people have a clear understanding of what their job entails. That means 50% or more of your people are showing up to work with no idea what exactly to do or how they will be held accountable for their performance. This is the point where your People Strategy Plan comes in.
The purpose of a people strategy plan is to ensure that you have the right people in the key roles of your company and that everyone is working toward common goals. To do this, you will need to begin with the business and work down to the people.
Start with performing a SWOT assessment.
A SWOT assessment will help you determine the Strengths, Weaknesses, Opportunities, and Threats that your company will face in the future. The best way we have found to do this is to bring a nice subset of leaders into the room and have them break into teams with each group working on their own four quadrants of the SWOT assessment. When complete, each team reports back to the group so we can get a good consolidated perspective and a comprehensive list.
Prioritize your programs.
This is the part where you decide which programs are necessary and which are ‘extra credit.’ Some programs or projects are obvious due to the business impact. It’s important to identify where to focus so you can easily align future requests based on where they fit in the list. Believe me, you’ll get plenty of requests each time a fire flares up. Also known as ‘knee jerk reactions’.
Define your tactical and strategic components.
HR is changing every day and becoming a more integral part of business. For the past few years, HR responsibilities have been splitting and being defined as either tactical or strategic roles. Make sure you know what falls under each bucket. To do this, it is important to understand that Strategic HR is planning, while Tactical HR is all about execution.
Create your communication protocol.
Up to 80% of the challenges a company faces, could be solved with better communication. It is important that communication with your employees is clear and targeted. Use this time to create a protocol for when, how, and to whom certain events within the company are communicated. Our objective is to ensure clear, consistent, and timely communication to all levels of your organization based on the type of communication it is.
Create your IT strategy.
If you don’t have an IT strategy you should. It is important to understand that the world we live in is constantly changing, especially the technology world. Technology enables you to streamline process, improve productivity, capture critical decision making data and maintain your competitive edge. Calculate your ROI, you’ll be surprised how much not implementing technology is costing you.
Align your new plan to the business and getting started.
It’s important that you have your programs and projects defined and aligned to each segment of the business strategy. There should be a clear one to one correlation. Now we need to identify the right people to hold accountable for the results. You need the best people assigned in order to successfully execute. Keep in mind what business strategy elements each project is aligned to. Calculate your ROI or projected savings and show how much value your people strategy plan can provide.
Business’ are successful because of their people. People are their most valuable and costly asset. Ensuring you are fully optimizing and utilizing your people is a must if you expect to be a growing and thriving business. Aligning people behind the business is the easiest way. Enjoy the experience and the glory.
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