How to influence and measure the success of your people strategy

We covered an efficient approach for building your Metrics in a previous article. This commentary article will move the dial further by making your people strategy Insights-Driven.

Now that you have a great understanding your business, sourced and validated from your key drivers. You also completed your initial people metrics selection process and have already gained credibility with a few relevant insights. This is the perfect time to tie and influence your People Strategy with business-aligned practices and processes. We use the term “Insights-Driven People Strategy” where practices and processes are grounded on insights generated from metrics.

Let’s consider that we sourced a significant business challenge from the following sources:

• The company’s Buy vs Build metrics is over the leading organizational results
• The time to fill metric is increasing every month at all role levels of the organization
• The turnover hit an unprecedented number for key business roles
• The talent shortage is no longer a predictive market trend
• And your business leaders perceived the People function lagging on staffing approach to support the business growth

There are many techniques and forward-looking opportunities to address this situation. For example, you can articulate a new pillar in your strategy and implement a People Review process, a recognized practices that provided successful results in the last decades and are still relevant to the actual context. To make it more insights-driven, you must add a new strategic metric complemented with tactical and operational ones to measure the success of your initiative. A strategic direction is long-term, and the related Tier 1 is as well. As new initiatives may not provide immediate results, it is crucial to constantly loop feedback and iterates your process until optimal outcomes; this is where your defined Tier 2-3 metrics come to play.

We hope that this complementary article inspired your creativity to embed this approach in your organization and become an Insights-Driven People function.

Please contact us if you need consultancy services to help achieve this transformational goal.