Integrated Human Capital Strategy wheelTM
Your Company Business Strategy will require functional sub-strategies including an aligned Human Capital Strategy. The Human Capital Strategy will provide the plans and processes for the following areas making up the above “wheel”. The wheel is fully integrated and each element affects the others.
- Plan: the tactical plans of what skills do we need when, where and the associated cost.
- Attract: what avenues will we use to attract the required talent.
- Invest: analyze new skills and competencies that we must develop in our people and through what medium.
- Deploy: placing employees into the organization, establishing the employee connections and maximizing the opportunity for success.
- Engage - Culture - Values: determine the norms, principles, and behaviors that make up our company and how we reinforce them in the organization.
- Performance Management – Future Leaders: establish how we will measure/reward success and identify future leaders.
- Retain: agree on the strategies and processes that will be used to retain the employees that perform to the desired level.
When the above Strategy and Plan is not thought through carefully and each element is not fully integrated with the other elements - then you will have only four or five parts of the wheel actually functioning. The following is the result: