Browse Examples, Metrics and Workforce Planning content selected by the Human Resources Today community. 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. This is the start of building scenario’s in a model for Strategic Workforce Development and this is where people data meets business drivers. Personally, I rather speak of Strategic Workforce Development than strategic workforce planning (SWP). 911 W 8th Avenue Suite 207 Anchorage, AK 99501. Tie to strategic objectives Some metrics will be financial, such as profit, revenue and cash flow. Its goal should always be to prepare the organization for future business continuity, business growth, and business agility. An example of a great KPI is to increase new customer trials by 15% in 2019, representing a growth of 15 trials per week to 18 trials per week. Diversity & Inclusion is a demonstrated benefit to business. Logic Map/ Results Chain “Information Technology Unit” Unit Activities Measurement/Example Metric. He introduces 7 Questions you can use to partner with your people for better performance…Use Bill Dann’s good questions, and I guarantee not only that you will become a better leader/manager, but that your people will become better performers.”. As you will recognize, these are essential ingredients required to form a people strategy and engage in strategic human resource management. Good strategic planning examples all set clear priorities for an organization and focus employees and resources on established goals. What are examples of strategic planning? The latter could indicate a risk of a large chunk reaching retirement age and capacity and knowledge leaving the organization, The percentage of people that leaves the organization in specific age groups (either voluntary or involuntary), Might provide insight into age groups with abnormally high or low turnover, The percentage of people who leave the organization voluntarily and involuntary, Target groups with high voluntary turnover might risk endangering business continuity and develop chronic employer branding issues, The number of people that move in and out of the target group from or to the organization, This metric might provide valuable insights into the possibilities and flexibility of downscaling or upscaling FTEs, The number of people in predefined categories of years in service within the target group, This number can provide more detailed information on the level of seniority and organization-specific knowledge within the target group, The time elapsed between engaging a candidate for a vacancy and the acceptance of an offer, This number is an indication of the effort it requires to attract new talent to the target group, The number of new recruits who leave the organization within a year, This provides insights into the success the organization has in keeping new recruits engaged within the target group, The level of satisfaction and engagement people within the target group experience divided into specific scales, This metric is linked to many other key metrics, such as turnover rate, employability and absenteeism and could provide important information to increase employee retention and general team productivity, The number of people in specific salary scales within the target group, This might provide additional information on the level of seniority within a target group, The distribution of talents within the target group rated following the 9-grid methodology, These results could indicate how much potential the population within the target group has to fulfill future business needs and successfully reach strategic objectives, Average or distribution of scores on competencies relevant for the role s within the target group, Competency scores indicate how well the target group is developed in the knowledge and skills necessary to make the organization thrive and develop, An HR expert to translate these data into meaningful. Framework . Strategic Management and Metrics Project . 1 . This will allow you to come up with strategic planning metrics that you can use to gauge the effectiveness of your plans. Now, if you already have these metrics in a dashboard, great! The reader can very quickly get an understanding of what initiatives have impact across the university while at the same time understand how individual initiatives apply to a specific goal area. The following samples are included in this guide. Review of Approved Strategic Plan Metrics • The Board-approved Strategic Plan includes a series of metrics to evaluate State ... Identify areas of focus to achieve strategic goals • For example, moving away from premium credits to outcomes and steerage. Your metric would measure staff turnover before flex time and after to assess the impact of your strategic project on the turnover. Three-Year Strategic Plan Update 2011-2014; Six-Year Strategic Plan Update 2011-2017. Choose a measure that is cost-effective to produce. Example: KPI vs Metrics. 15. A sound strategic planning metric is one that measures whether or not a strategy on your strategic plan is working. Measures are quantifiable performance statements, and […] This is where strategic workforce planning, or development, comes in. The most powerful motive for creating strategic metrics is to improve the focus of your team. It communicates what an organization of people believes in (vision), its goal (mission), and how they want to achieve this goal in the coming years (strategy). Goal 1: Enhance Student Success; Goals 2 and 3: Invest in Faculty and Infrastructure and Support Interdisciplinary Scholarship; Goal 4: Pursue Organizational Excellence; Goal 5: Engage Locally and Globally; Download Report Metrics (PDF) Progress. For example, let’s say you are implementing a new marketing campaign to attract new customers. Division Level Pilots* Campus Level . Division Goals & Metrics . We would be happy to point you in the right direction to create metrics of your own. If not, then you might consider putting in place metrics to evaluate your strategies. Let’s first look at our definitions. Contact us at the Consulting WP office nearest to you or submit a business inquiry online. 2 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. This KPI supports a specific strategic outcome–an increase in net-new revenue and helps clearly outline an outcome. Choose to … HR Business Partner 2.0Certificate Program, [NEW] Give your career a boost with in-demand HR skills. This is where strategic workforce planning, or development, comes in. The following metrics are crucial in creating a relevant overview for each target group. 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 … Policy-Based Strategy Monitors. A strategic plan is a roadmap to grow your business. The risk involved in being unprepared for future market shifts and/or rapidly changing customer needs becomes increasingly bigger in a VUCA world. Metrics. 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. Find out why your city’s strategic plan isn’t living up to its full potential in this free ebook. The top ten HR metrics that have the highest chance of getting your CEO’s attention are listed below. Coauthor of The One Minute Manager and Cofounder of the Ken Blanchard Companies. The next step is to put your plan into action and manage the process as well as the plan’s performance. A business plan is a good example of strategic planning. 14. 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. In order to execute this strategy successfully, the organization needs the right number of people with the right skills, background, profiles, and experience. Metrics will help foster learning, support the strategic initiative story, integrate the many components, and encourage good decision making. Here are some criteria to consider in developing a strategic planning metric: As an exercise, ask yourself this question, if an investor, shareholder or source of grant funds came to you and asked you to make the case for why the organization should continue a strategy or program you are now investing in, could you answer the question with hard data? Organize metrics and qualitative indicators around goals and priorities. For example, if it is important for the organization that a target group (e.g., IT specialists) acquire new knowledge and skills (e.g., agile UX software development), you might want to include information form Learning & Development on how many IT specialists have already followed this training. PGS is a premiere organizational consulting resource for executives, governing boards and management teams throughout the United States. The real value of a metric is in giving you good data to evaluate your strategies early on, so that you know whether you are making a sound investment of time and money. Measuring our progress 11 metrics. In this article, we will explore the key metrics that you need to prepare your organization for the future. The following are illustrative examples of a strategy plan. Is your initiative to branch into new markets effective? Measurement must be continuous, so a well-run organization needs to generate monthly financials and track metrics for SOs on a regular basis. So, what are the key ingredients to prepare the organization for the future in terms of people and work? In this article, we will dive into what workforce planning is, the process, give a number of examples, and end with a toolkit on how to get started when you want to start planning your workforce. Metrics give you these answers. Creating Strategic Metrics. Going forward, each division, school, department, ORU, and college will align its individual strategic planning efforts with the university’s overall Strategic Plan. Copyright © 2020 Professional Growth Systems | Site Created by, Building Effective Strategic Planning Metrics. Budget . He also has extensive experience in implementing HR analytics and digital HR tools and processes. 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. You must have JavaScript enabled to fill out this form. People can only pay attention to a handful of things, so the question for any change agent is what metrics are preserved and what new… For example, ... A definition of budget planning with examples. 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 … Example : Logic Map & Metrics . You may also see wedding checklists. Most of those who create HR metrics and recruiting metrics don’t really understand the strategic mindset of CEOs. This is a structured business process designed to proactively anticipate, and plan for, future personnel needs. Questions or thoughts? Why monthly? Depending on relevant internal and external developments you might want to include specific metrics that are not mentioned above. 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. For example, if a large proportion of a target group is nearing their retirement age, or if engagement scores for key employees are very low, make them pop out! Approved Metrics – Improve Members’ Health . Instead, provide guidance in the graphs by pinpointing results that should catch the viewer’s attention. Choose a metric with monthly data available. Conversely, Operational Planning is concerned with internal environment of business. Financials . In this article, we will explore the key metrics that you need to prepare your organization for the future. After discussions about the Drive to 25 across the WSU system during fall 2016, the campus senior leadership team and deans chose 11 metrics to measure progress toward the goal of achieving recognized status one of the top 25 public research universities in the U.S. Policy monitors are metrics for determining whether the true business intent of a business policy is being satisfied.Here are some facts of life about actors in the everyday drama of business activity: Actors will modify their behavior to adjust to your business rules. Is your project to enhance customer loyalty doing just that? What is the purpose behind a strategic project on your plan? Key Performance Indicators (KPIs) are the elements of your plan that express what you want to achieve by when. Your metric would measure staff turnover before flex time and after to assess the impact of your strategic project on the turnover. To help you succeed, use this proven strategic plan template, and the information below details the 13 … Benchmarking Benchmarking is the comparison of your metrics with a competitor or industry average. Plan . How do you know? Effective use of data visualization will be a great conversation starter with senior leaders. Choose to measure the “why” behind a strategy. This example shows how a strategic plan can be structured to allow for the development of outcome-based metrics. This is a structured business process designed to proactively anticipate, and plan for, future personnel needs. You might also want to include labor market data in order to provide more information on the efforts in may take to keep hiring talent for the target groups. Elements of Effective Workforce Planning. He works at OrgVision and Bright & Company with partners and clients on designing workforce strategies using data & analytics. Key Performance indicators ( KPIs ) are the key metrics that are mentioned! 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