HR does a lot of stuff – what happens if it does not work together??
Developing a Human Capital Strategy and Plan
A Human Capital Strategy and Plan consists of seven elements that work together like a wheel.
Too many times companies start implementing items within HR without taking the time to develop a cohesive Human Capital Strategy and Plan. Some elements may not even exist or are not producing value. When that happens, the wheel looks like this:
The reality is that the above square wheels would not even be turning - you would be dragging the wagon along. This is the reason why so many people are frustrated and worn out by their “People problems”. (Notice that in the wagon there are numerous round wheels!!) In a lot of cases the above perfectly square wheels would have longer and shorter sides that would reflect areas that are done well or not.
A fully integrated Human Capital Strategy and Plan which is well thought out, documented, implemented well and constantly measured and realigned – will produce a finely tuned round wheel. However, it is not a magic bullet rather an on-going constant process of the above measurement and realignment.
So what is included in the seven elements? 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