Formulating a Strategy and Plan for each of the seven elements of a Human Capital
Building your custom Human capital Element Strategies and Plans must start with your Vision, Mission and Values. These must be documented, fresh to your current situation and agreed upon throughout the organization. If the employees do not agree that the managers and executives model those values 150% of the time then you need to revisit your values. The values need to be restated until they are agreed upon. Anything else will doom the strategies.
The Vision, Mission and Values will provide many clues as to what the Elemental Strategies will look like and function. In many cases, you will find that formulating the individual elemental Strategies and Plans are exceedingly difficult. As you move around the wheel you will also find that you have structural paradoxes as to how the different strategies and plans for each element will work in a cohesive, integrated fashion.
You may find that the “Attract” strategy that fits you Vision, Mission and Values will force you to greatly expand the Strategies and Plans and money spent in the “Invest” element. This may not be acceptable to the CEO or CFO. Being creative in how the Strategies and Plans are developed can be very challenging!!
Lastly, there is always a difference between the drafted documented strategies and plans and the reality of how they are routinely implemented. Clearly you can not receive the benefits of the synergies of the strategies and plans if they are not implemented in the way that they were planned. An area that is not done well by most companies is “Deploy” or on boarding. Seldom do most companies consistently implement their deploying strategy and Plan.
So, once we draft and consistently implement our Elemental Strategies and Plans – all of our Human Capital problems are resolved, right? That is for next week.
Clark Ingram, MBA, SPHR, CEBS, CPCU is the principal of People Profits which is a financially oriented Human Capital Strategy and Planning firm based in the OKC metro area. www.PeopleProfits.com. ©2012 People Profits, LLC