How to Develop a People Strategy That Drives Business Success

How to Develop a People Strategy That Drives Business Success

How to Develop a People Strategy That Drives Business Success

As a business owner or manager, you know your employees are one of your most valuable assets. But are you truly maximizing their potential? A people strategy can help you align your workforce with your business objectives, identify areas for improvement, and ultimately drive success. In this post, we’ll show you how to develop a people strategy that can help take your business to the next level.

What is a People Strategy?

A people strategy is a plan that outlines how an organization will attract, develop, retain, and manage its workforce to achieve its business goals. It is a critical component of an organization’s overall strategy as it aligns its workforce with its business objectives.

A people strategy typically includes the following components:

Workforce Analysis:

Analyzing the current and future needs of the workforce in terms of skills, diversity, and culture. This helps to identify areas for improvement and develop a plan to address those areas.

Talent Acquisition:

Developing strategies to attract and hire top talent, including employer branding, job postings, and candidate selection.

Employee Development:

Developing initiatives to improve employee skills and performance, such as training and development programs, coaching, and mentoring.

Performance Management:

Establishing a process for providing regular feedback, goal setting, and performance reviews to ensure that employees are meeting expectations and contributing to the organization’s success.

Employee Engagement:

Developing strategies to improve employee engagement, such as recognition programs or regular surveys to gather employee feedback.

Diversity, Equity, and Inclusion:

Developing initiatives to promote diversity, equity, and inclusion within the organization, such as unconscious bias training or mentorship programs.

Succession Planning:

Developing a plan to ensure that the organization has a pipeline of qualified candidates for key positions and to ensure business continuity.

A people strategy is essential for organizations that want to drive business success and create a positive work environment. By aligning the workforce with business objectives and addressing areas for improvement, organizations can improve productivity, reduce turnover, and increase customer satisfaction.

The Role of the HR Department in Developing People Strategy

Your HR department is a crucial partner in the development and implementation of your people strategy. HR can provide insights into the current workforce and help identify areas for improvement. They can also help ensure that the strategy aligns with the organization’s goals and values. Additionally, HR can take the lead in designing and delivering training programs that can help employees develop the skills and knowledge they need to contribute to the success of the business.

Analyze Your Workforce

Before you can develop a people strategy, you need to understand your current workforce. Take a deep dive into your employee data to identify strengths, weaknesses, and gaps in skills and knowledge. Ask yourself questions like: What are our employee turnover rates? Which teams are performing well, and which ones are struggling? Are there certain skills or knowledge areas that are lacking? Once you have a good grasp of your current workforce, you can begin to develop a plan to address any areas that need improvement.

Create and Deliver a People Strategy?

Identify Business Needs and Objectives:

Determine the business objectives you are trying to achieve and identify how the people strategy can align with those objectives. This could include goals such as improving productivity, reducing turnover, or increasing customer satisfaction.

Develop a Plan:

Create a plan that outlines the actions you need to take to achieve your people strategy goals. This can include everything from training programs to performance management processes. Your plan should be specific, measurable, achievable, relevant, and time-bound (SMART).

Assign Roles and Responsibilities:

Clearly define the roles and responsibilities of everyone involved in the people strategy, from HR to department managers. Make sure everyone understands their part in the plan and what they are accountable for.

Communicate the Strategy:

It’s important to communicate the people strategy to everyone in the organization so that they understand their roles in making it a success. This could include town hall meetings, email newsletters, or one-on-one meetings with managers.

Blueprint for People’s Success

Once you’ve developed your people strategy, it’s time to create a blueprint for success. This includes identifying specific goals and objectives for the strategy, as well as the specific actions that need to be taken to achieve those goals. You should also set up key performance indicators (KPIs) to measure the success of the people strategy and regularly monitor and analyze those KPIs. Finally, be prepared to adjust the strategy as needed to achieve your desired outcomes.

The following are some examples of specific actions that could be part of your people strategy:

  • Recruitment and Onboarding: Develop a process for attracting and selecting top talent, as well as a comprehensive onboarding program to get new employees up to speed quickly.
  • Training and Development: Identify the skills and knowledge gaps in your workforce and develop training programs to address them. This could include leadership training, technical training, or soft skills training.
  • Performance Management: Establish a performance management process that includes regular feedback, goal setting, and performance reviews.
  • Employee Engagement: Develop strategies to improve employee engagement, such as recognition programs or regular surveys to gather employee feedback.
  • Diversity, Equity, and Inclusion: Develop initiatives to promote diversity, equity, and inclusion within the organization, such as unconscious bias training or mentorship programs.

Case Study: Hilton Hotels

Hilton Hotels, a global hospitality company, recognized the importance of developing a people strategy to drive business success. They identified several areas for improvement, including employee engagement, performance management, and diversity and inclusion.

To improve employee engagement, Hilton launched a recognition program called “Catch Me at My Best,” where employees were encouraged to recognize their colleagues for exceptional service. The program led to increased employee satisfaction and improved customer service scores.

To enhance performance management, Hilton implemented a new system that included regular feedback, goal setting, and performance reviews. This resulted in higher employee productivity and a reduction in turnover.

Finally, to promote diversity, equity, and inclusion, Hilton established the “Women in Leadership” program and provided unconscious bias training to all employees. These initiatives helped increase the number of women in leadership positions and create a more inclusive work environment.

As a result of its people strategy, Hilton Hotels saw an increase in customer satisfaction, higher employee engagement, and improved financial performance. The company has continued to prioritize its people strategy and has been recognized as a top employer in the hospitality industry.

This case study demonstrates the importance of developing a people strategy and implementing initiatives that align with business objectives. By addressing areas for improvement and prioritizing employee satisfaction, organizations can drive business success and create a positive work environment.


Conclusion

Developing a people strategy is an essential step in driving business success. By aligning your workforce with your business objectives and addressing areas for improvement, you can improve productivity, reduce turnover, and increase customer satisfaction. With the right plan, your organization can achieve its goals and set itself up for long-term success. Remember to analyze your workforce, involve HR in the process, communicate the strategy, and create a blueprint for people’s success. By following these steps, you can develop a people strategy that drives business success.

Disclaimer: This blog post’s information and case study are based on publicly available information about Hilton Hotels. We have cited our sources and have used the information solely for educational purposes. The use of Hilton Hotels’ name and information does not indicate endorsement or affiliation. We respect the intellectual property rights of all organizations and individuals and have made every effort to ensure accuracy in our reporting. Please contact us if you believe any information in this blog post is inaccurate or requires correction.