Question

Discuss the role of business strategies while getting the right people in contemporary organisations

Answer 1

Forward-thinking leadership teams are creating their people strategy as an integral part of their strategic business planning process, and are no longer left to HR to isolate themselves. These organisations, knowing that their most important competitive advantage is the ability to attract and retain the right people, shape their plans to meet their labor force needs.

The need is greater than ever. There's a whole new set of macroeconomic factors driving people's need for focus. We are in the midst of the Fourth Industrial Revolution, where rapid digitisation and evolving technologies fuse with demographic shifts, lower entry barriers, evolving business models and consumer expectations, all bringing about ever-accelerating rate of change. With this transition comes a decrease in the amount of time it takes for a company to develop or decline, and thus the need for a more flexible, agile and high-performing work force.

Putting people at the core of your corporate plan- This planning process must include a coordinated review of how external trends affect existing business-wide structures, jobs and skills, and the key skill profiles needed for future success. This, in turn, should create an environment of people-centered work and leadership approach that will help your business prosper.

Business executives and managers own the personnel and talent requirements of the corporate plan, but HR professionals should determine the needs of the people and ensure that the company is set up to deliver on those requirements effectively. HR also has access to valuable information and awareness about the strengths, vulnerabilities, opportunities and challenges of current and potential talent, and can carry those perspectives into early stages of strategic discussions.

While the overall strategic objectives and major initiatives are critical, the cross-functional plans that support the strategy's implementation are likewise critical. In reality, because they don't have realistic, pragmatic action plans, many companies neglect to take into consideration the changes that will occur to align the organization around the strategy. HR will be an valuable partner in deciding which facets of the company will need to be addressed in the future, who will be impacted and how, and what steps will need to be taken to ensure progress.