{"id":2465,"date":"2022-01-27T13:18:51","date_gmt":"2022-01-27T02:18:51","guid":{"rendered":"https:\/\/greatpeopleinside.com\/australia\/?p=2465"},"modified":"2022-06-10T14:02:48","modified_gmt":"2022-06-10T03:02:48","slug":"people-strategy-for-now-and-the-future-how-to-close-gaps","status":"publish","type":"post","link":"https:\/\/greatpeopleinside.com\/australia\/people-strategy-for-now-and-the-future-how-to-close-gaps\/","title":{"rendered":"People strategy for now and the future &#8211; how to close gaps"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Planning for a best People Strategy is essential. Your business strategy amounts to no more than words on a page if you don\u2019t have \u201cthe right people in the rights seats on the bus\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All elements of your employee life cycle must be linked:\u00a0<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">from attraction through to talent management,\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">leadership development, and\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">ongoing performance management.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">There is a great reward too in doing this. Studies tell us that organisations that prioritise their employee experience are four times more profitable than those who do not.<\/span><\/p>\n<h3><b>People Strategy v HR Strategy \u2013 what\u2019s the difference?<\/b><\/h3>\n<p><b>HR Strategy<\/b><span style=\"font-weight: 400;\"> tends to focus more on the planning side of people such as structures for hiring, onboarding, developing, and retaining.\u00a0<\/span><\/p>\n<p><b>People Strategy<\/b><span style=\"font-weight: 400;\"> is more about helping employees to grow, by creating an environment that nurtures and enables high performance. People Strategy usually focuses on:\u00a0<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">values,\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">fostering diversity,\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">inclusion and employee wellbeing, and\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">predicting and reacting to workforce needs.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In essence, creating a culture where employees share equal billing with shareholders and business goals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the world-renowned Boston Consulting Group, the three pillars for developing a people strategy are <\/span><b>leadership and\u00a0culture, talent and skills, and HR<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201c<\/span><i><span style=\"font-weight: 400;\">In these challenging times, organisations must elevate the most important asset they have: their people. By focusing on the fundamentals of people strategy\u2014leadership, culture, talent, reskilling, and HR\u2014companies can emerge stronger, more agile, more innovative, and better able to respond to an ever-changing environment.\u201d<\/span><\/i><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">I\u2019d like to explore two of these pillars.<\/span><\/p>\n<h3><b>Leadership Culture and Strategy<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">There are many levers at a leader\u2019s disposal to drive their organisations success and effectiveness.\u00a0 Strategy and Culture are the most important.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Strategy provides clarity of the company\u2019s goals and helps to align people around them. Culture tends to express goals through organisational values and beliefs. Culture also guides tactics, activity, and implementation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One thing is sure and that is culture and leadership are linked. Poor leadership and resultant toxic culture usually determine the fate of a business. Studies tell us up to 30% of employees say they left because of poor leadership. These findings highlight the need for every organisation to address this factor.<\/span><\/p>\n<h5><b>Culture in more detail<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">Culture is a more puzzling lever to activate. The reason for this is mainly because Culture can be ambiguous and embedded in unspoken behaviours, people\u2019s mindsets, and social expectations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many leaders don\u2019t always appreciate the power of culture.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<blockquote><p><span style=\"font-weight: 400;\">A recent <\/span><a href=\"https:\/\/www.gartner.com\/en\/newsroom\/press-releases\/2021-08-04-gartner-hr-research-identifies-six-gaps-between-leader-and-employee-sentiment-on-the-future-employee-experience\"><span style=\"font-weight: 400;\">Gartner Survey<\/span><\/a><span style=\"font-weight: 400;\"> revealed that 75% of leadership believe that they run a culture of flexibility. Unfortunately, only 57% of employees agreed.\u00a0<\/span><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">This lack of appreciation can cause many leaders to either let culture go unmanaged or delegate it to HR, where it can slip to a secondary focus for the business.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Successful leaders embrace the ambiguity of culture. In my experience many leaders I have met avail of the valuable culture diagnostic tools to understand where their orgnaisations culture is right now. These tools help them to answer questions such as:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Is it more of a creative culture or a reactive culture?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How do the culture snapshot of the board and senior leadership vary from the operational managers\u2019 perspectives?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How \u201creal\u201d is the conversation in the business?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Gaining clarity around culture can be as confronting as it is enlightening &#8211; but well worth the investment of time and focus. We partner with many specialists in this area, so reach out if you\u2019d like to explore further.<\/span><\/p>\n<h3><b>Talent and skills<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Sixty-four per cent of the world\u2019s most admired companies say they have a good understanding of workforce needs two or more years into the future compared to 54% of their peers.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<blockquote><p><span style=\"font-weight: 400;\">That same recent <\/span><a href=\"https:\/\/www.gartner.com\/en\/newsroom\/press-releases\/2021-08-04-gartner-hr-research-identifies-six-gaps-between-leader-and-employee-sentiment-on-the-future-employee-experience\"><span style=\"font-weight: 400;\">Gartner Survey<\/span><\/a><span style=\"font-weight: 400;\"> I referred to earlier also revealed the same 75% of leadership also felt that they did a good job incorporating employee voice in decision making. Unfortunately, in this case only 47% of employees agreed.\u00a0<\/span><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The forced extreme disruption, which was the last two years, has meant that most businesses naturally thought more about survival than future talent and skills needs. Now is the time to think about your future talent and skills requirements. Some steps to take include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ensure Employee Pulse Surveys acknowledge and act on the feedback provided<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use customised psychometric assessments to identify traits and skills gaps<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incorporate customised 360\u00b0 surveys as part of your development programs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Facilitate regular check-ins between individuals\u2019 teams and managers<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Lastly, lockdown work from home is different from long-term working remotely. Most organisation psychologists accept that loneliness, communication, and isolation can trigger depression.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, if there is a disconnect in your business between HR policies, the leadership strategies propelling them, and employee sentiment on the ground, greater emphasis must be placed on the needs this new work approach demands.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, consider what capabilities and skills (soft and hard) are essential to be future-ready? Do all employees possess the discipline, conscientiousness, and results orientation to deliver in a hybrid environment? What might this mean for remote work and the flexibility we can offer?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Through our <a href=\"https:\/\/greatpeopleinside.com\/australia\/\">business offering<\/a>, we have many people analytics resources and tools to assist with both these pillars. <a href=\"https:\/\/greatpeopleinside.com\/australia\/contact-us\/\">Reach out<\/a> if you\u2019d like to discuss how we can help with the future of your people.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Planning for a best People Strategy is essential. Your business strategy amounts to no more than words on a page if you don\u2019t have \u201cthe right people in the rights seats on the bus\u201d. All elements of your employee life cycle must be linked:\u00a0 from attraction through to talent management,\u00a0 leadership development, and\u00a0 ongoing performance [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28,67,14],"tags":[72,82,80,114,112,68,113],"class_list":["post-2465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice","category-leadership","category-news","tag-culture","tag-gr8pi","tag-hr","tag-hr-strategy","tag-human-resources","tag-leadership","tag-people-strategy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>People strategy for now and the future - how to close gaps - Great People Inside Australia<\/title>\n<meta name=\"description\" content=\"Planning for a best People Strategy is essential. 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