The primary difference between Strategic Planning and Operational Planning is that Strategic Planning takes into account the internal as well as external environment of business. Why monthly? Strategic Workforce Development is an important process for any business. The word planning has a very top-down approach to the process, while I think getting your people ready for the future needs of the organization is as much an ongoing conversation with your people as it is a conversation about your people. These valuable insights are making HR an indispensable strategic planning partner. For now, this is out of scope but I will provide more information on how to do proper scenario planning with data in another article. Your metric would measure staff turnover before flex time and after to assess the impact of your strategic project on the turnover. Copyright © 2020 Professional Growth Systems | Site Created by, Building Effective Strategic Planning Metrics. Let’s first look at our definitions. Financials . Personally, I rather speak of Strategic Workforce Development than strategic workforce planning (SWP). Browse Examples, Metrics and Workforce Planning content selected by the Human Resources Today community. Issues . This is where strategic workforce planning, or development, comes in. What is the purpose behind a strategic project on your plan? Going forward, each division, school, department, ORU, and college will align its individual strategic planning efforts with the university’s overall Strategic Plan. For example, let’s say you are implementing a new marketing campaign to attract new customers. The strategic plan sets forth a general approach and set of assumptions to guide the assessment of progress over this period. When it comes to strategic planning – all the five years of strategic plan – the goal may be set and that goal is KPI for the related target. Division Level Pilots* Campus Level . When used well, strategic workforce planning enables HR to plan for the capabilities they need in the future. Metrics can be any item that an organization would like to track such as: Profit, Revenue, Product Releases, Customer Count, etc., these metrics can be financial, statistical, or qualitative. Organize metrics and qualitative indicators around goals and priorities. Diversity & Inclusion is a demonstrated benefit to business. The following samples are included in this guide. Leaders of strategic initiatives should regard good metrics as a priority. Contact us at the Consulting WP office nearest to you or submit a business inquiry online. Metrics will help foster learning, support the strategic initiative story, integrate the many components, and encourage good decision making. In a nut shell, a business plan is a road map, to show you how to go to where you want to go from where you are. HR Metrics & DashboardingCertificate Program[Now Open], Enroll now and become an HR Reporting Specialist, The 21 metrics you need for Strategic Workforce Development, Digital HR Transformation: Stages, Components, and Getting Started, 5 Reasons Why Your In-House HR Assessment Will Fail (and how to avoid that), Effective People Analytics: the Importance of Taking Action, How to Conduct a Training Needs Analysis: A Template & Example, Evaluating Training Effectiveness Using HR Analytics: An Example, How Natural Language Processing can Revolutionize Human Resources, Predictive Analytics in Human Resources: Tutorial and 7 case studies, The number of Full-Time Employees and the number of individuals in the target group, The core number related to the staffing of the organizational formation is key to describe trends in workforce needs, The average age of the people within the target group, This is an indicator of the level of seniority within the target group, The percentage of people that leaves the organization (either voluntary or involuntary). Example : Logic Map & Metrics . You’ve developed your strategy plan and have a clear road map designed to reach your vision. These metrics, address graduation rates, enrollments and completions of low income and rural students, research, and production of graduates meeting critical workforce needs. The next step is to put your plan into action and manage the process as well as the plan’s performance. Its goal should always be to prepare the organization for future business continuity, business growth, and business agility. “…I love Bill’s book. A Metrics Cube in Planning Analytics is created first and is the basis for end users creating scorecards. Campus Common& Unit Metrics Strategy & link to . An example of a measure and its metric would be the percentage of planned portal monitors that have been deployed at seaports (measure) and the number of … Effective use of data visualization will be a great conversation starter with senior leaders. If you’re just getting started, the seven cities listed below offer a shining example of how to properly execute a strategic plan—take a look … 14. A strategic plan can also be used on a smaller scale, such as crafting a marketing plan or developing strategy for the goals of one department within a business or organization. U-M’s strategic plan is a great example of an easy to read strategic plan. Find out why your city’s strategic plan isn’t living up to its full potential in this free ebook. But, before we jump straight into examples, here’s a quick refresher on what Key Performance Indicators are and why they’re a critical part of managing your plan on an ongoing basis. Is your initiative to branch into new markets effective? Measuring our progress 11 metrics. 1 . While a strategic plan does share common elements with a business plan, or even execution plan, it is very distinct from both of those things. For this article, I want to zoom in on the data and metrics that are useful to create in the Strategic Workforce Development process and why. The number of males, females and other intersex variations, From the standpoint of diversity, this could be an important factor for some target groups, The number of people in the target groups with a certain contract type, These numbers can provide you with information on the flexibility you might have in target groups with upscaling or downscaling FTEs, The number of years in service within the target group, This number can provide information on the level of seniority and organization-specific knowledge within the target group, The average percentage of people with unplanned absence at any given moment, This number is related to the level of employability within the target group, The average age of the people in predefined age categories within the target group, This gives a detailed distribution of age within the target group and might indicate a lack or surplus of senior people. Once you have these bundled, you will have a story to tell about each of the target groups and this will help you and your project team get a sense of the people in the target groups. Key Performance Indicators (KPIs) are the elements of your plan that express what you want to achieve by when. This indicator should be measured by a ratio (generally represented by a number) which portrays the progress of the process as a whole or in part. UNC-Chapel Hill’s 2020 “Carolina Next Strategic Plan” are aligned the UNC System’s strategic plan and with our nine specific performance metrics. A business plan is a good example of strategic planning. These are metrics you will need to have if you’ll want to say anything useful about the target groups: Learn to build a digital HR strategy and start leading the digital transformation in HR. For example, a “why” might be reducing staff turnover, and the strategy chosen to influence turnover is implementing flex time. 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