The numerous factors affecting your Strategies and Plans
In my last blog I discussed how your Vision, Mission and Values affect your Human Capital Element Strategies and Plans. The graphic below shows the many general sources of inputs that will also affect them. This is when it gets very complicated and how the Strategies and Plans can easily start conflicting with each other. This will cost you money!!
There are many reasons why the above complicates your Strategies and Tactics. Most organizations can move around this wheel and have a pretty good idea of where they are on each one. Details might be sketchy, but one of the keys to this is to work through each one in depth. Having someone with experience in this can be very helpful. Many times I have business owners who get stuck in an area or have a less then objective view of their situation.
The in-depth view of each source is then reviewed against the others to determine areas of conflict and synergy. This is when an objective view and experience can help in determining the appropriate tactics that will make and save you a lot of money!
People Profits has seen innumerable examples of how one flaw in thinking or lack of objectivity can doom the entire Human Capital Strategy. You have seven elements with six inputs for a total of 42 variables that will be different for each business.
The next issue is change over time. Does your Environment change on a regular basis? Of course – new laws, new product/service lines, new group of customers among other things. Therefore, your strategies and plans must change to account for these changes. Each of the Sources will change over time and a mapping out of that change beforehand is an excellent proactive way to create opportunities for making money.
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