All too often, companies create short-term people initiatives that leave little to no impact on the actual culture and the company’s ability to meet its business strategy. A real and long-lasting shift in your culture can only be addressed by exploring the foundations upon which your operating model and organisational design are built, aligning both these to your vision. This is where your people strategy comes in.

Over the past few years, many businesses have been in crisis mode, and rightly so. The pandemic brought with it an urgent need to change standard operating models and introduce new propositions to service clients differently.

For many companies, this focus on firefighting has caused other areas, such as their people strategy, to get neglected. Which has come at a cost.

As we now set our sights on recovery, another challenge has emerged. Businesses are facing mass resignations on a global scale. Unfortunately, the businesses that didn’t prioritised their people during the pandemic are the ones struggling the most given their damaged employer brand and productivity drought.

Recent research conducted by Personio, found that over a third of employees in the UK (38%) are looking to change roles in the next 6 or 12 months or once the economy has strengthened. Employers are well aware this is on the way, with nearly half (45%) of HR decision makers saying they are worried that staff will leave once the job market improves.

The research shows that top of employee’s list of grudges is the worsening work-life balance and a toxic workplace culture. Yet, HR managers are underestimating the pushing power of these factors with only a quarter (26%) saying that talent retention is a priority for their organisation over the next 12 months.

Focusing on your people strategy and knowing how you want to elevate your workforce will equip you to more easily navigate the ongoing challenges faced by your business.

What is a People Strategy?

In simple terms, your people strategy determines how you attract, retain, and grow your employees in order to best accomplish your company’s mission. The aim is to engage, develop, and retain your workforce, making them an essential part of your overall business strategy.

A robust People Strategy looks at three elements – together these allow you to deliver your business strategy through your people.

At their core, People strategies are put in place to keep businesses, HR teams, and employees aligned. For HR teams, they are a way to drive business outcomes, like increased productivity or reduced turnover. For employees, People strategies are structured to help them reach their fullest potential through support programs and learning and development resources.

People Strategy Vs HR

For an organization to drive and sustain growth, its business and HR goals need to intersect, and having a People strategy is one way to make this happen.

The differences between HR and People strategies are subtle but fundamental. While HR strategies focus on building systems to attract and retain talent, People strategies focus on building relationships between organizations and employees. While they can overlap, People strategies and HR strategies are different tools.

What can I do to help?

Your more than likely have a clear product and go-to-market strategy that are deeply contemplated, debated, and refined by your senior leaders. But when it comes to a strategy for you people, who are the foundation on which all other business strategies depend, things could look different.

There is no one-size-fits-all approach to People strategy: Yours needs to reflect your business needs and company culture. If you would like to discuss how I can help you build a people strategy for your organisation, please get in touch today.