developing and executing an effective business strategy may 2012

Developing and executing an effective strategy

by Toronto Training and HR

May 2012

Contents

3-4 Introduction to Toronto Training and HR

5-7 Types of business strategy8-9 Conversations around strategy10-11Competitive advantage12-15Behaviours required16-17Silent killers18-23HR strategy24-26Recruitment and selection strategy27-30Learning & development strategy31-33Recognition and reward strategies34-35Employer brand strategy36-39Social media strategy40-41Sales compensation strategies42-43Resource-based strategy44-47Leadership48-49Drill50-51Conclusion and questions

Introduction

Introduction to Toronto Training and HR

• Toronto Training and HR is a specialist training and human resources consultancy headed by Timothy Holden

• 10 years in banking• 10 years in training and human resources• Freelance practitioner since 2006• The core services provided by Toronto Training and HR

are:- Training event design- Training event delivery- Reducing costs- Saving time- Improving employee engagement &

morale- Services for job seekers

Types of business strategy

Types of business strategy 1 of 2

DefenderProspectorAnalyser

Reactor

Types of business strategy 2 of 2

Cost leadershipDifferentiation

Conversations around strategy

Conversations around strategy

What is strategy and how do you create it?What roles should employees at differentlevels play in strategy?

Competitive intelligence

Competitive intelligenceBe proactiveWhat’s it for?Make it action-basedStart with what’s publishedFind primary sourcesListen and observeBuild a pictureBe timelyKeep your nose cleanThink counter-intelligence

Behaviours required

Behaviours required 1 of 3

LEADERS; CREATE STRATEGYAspireEvaluateIntegrateOptimizeUphold


MANAGERS; RESPONSIBILITY FOR STRATEGYAlignEducateInformOrganizeUtilize


FRONT-LINE EMPLOYEES; SUCCESSFUL EXECUTION OF STRATEGYApplyEngageInnovateOwnUnderstand

Silent killers

Silent killers

Quality of directionQuality of learningQuality of implementation

HR strategy

HR strategy 1 of 5

Recruitment and retentionCompensationPerformance managementTraining and developmentSuccession planning

HR strategy 2 of 5

SOCIAL HR INITIATIVESIdentifying your purposeEngagementResearchAlertingSupport

HR strategy 3 of 5HR PLANNINGScanning the horizon to see what likely changes are coming up and what are the implications for staffingExamining the supply of labour within the organization in terms of age, experience, qualifications, pay, conditions and performance of existing employeesMaking a comparison between the demand and supply of applicants

HR strategy 4 of 5HR PLANNING-QUESTIONS TO ASKAccommodationCostsCultureDevelopmentIndustrial relationsLayoffsOrganization developmentOutplacement

HR strategy 5 of 5HR PLANNING-QUESTIONS TO ASKPromotionsProductivityRecruitmentRetirementReward systemsTraining and retrainingTransferWorking practices

Recruitment and selection strategy

Recruitment and selection strategy 1 of 2

PRIMARY FEATURESRecruitment and selection practices should reflect the organization’s strategic plansA long-term focus should be apparentA bridging mechanism for translating long-term plans and organizational priorities into practical recruitment and selection policies/practices

Recruitment and selection strategy 2 of 2

SECONDARY FEATURESSophisticated and complex approach to recruitment and selection with a wide array of methods usedRecruitment and selection processes which are accorded high status as activities within the organizationThe use of practices which are clearly sensitive to the impact on candidates

Learning & development strategy

Learning & development strategy 1 of 3

Horizontal integrationVertical integration


Corporate strategic levelBusiness unit/managerial levelOperational level


HOW TO GO ABOUT IT:Allocate responsibility for L&D strategy developmentClarify organizational missionExplore core organizational identity and valuesCarry out SWOT or PESTLE analysis to identify the strategic issues facing the organizationAgree a strategyProduce a strategic plan

Recognition and reward strategies

Recognition and reward strategies 1 of 2

RECOGNIZE AND REWARD PEOPLE THAT:Particularly demonstrate or contribute to core values/attributesCome up with outstanding ideas for improvement or that impact significantly on revenue or cost-savingShare relevant knowledge and best practice with other members of the team that leads to marked improvements in performance

Recognition and reward strategies 2 of 2

RECOGNIZE AND REWARD PEOPLE THAT:Achieve professional qualifications etc. that enhance their ability to deliver projects

Employer brand strategy

Employer brand strategy

HOW IS IT DEVELOPED?Market researchProduct researchMarketing method researchMotivational researchAttitude surveys

Social media strategy

Social media strategy 1 of 3

ACCEPTANCE LEVELS OF SOCIAL NETWORKSCreatorsCriticsCollectorsJoinersSpectatorsInactives


Research and listenCreating strategy


External social strategyDiversifyStay up to date with technologyRegularly monitor progressMeasurable ROIsInternal social strategyExecutive buy-in and commitmentGrassroots v systematic approachIntended audience

Sales compensation strategies

Sales compensation strategies

Clarify business/strategic objectives Assess current plans Define objectives of sales plan Assess eligibility of jobs Establish compensation levels Select performance measures and weightings Develop the formula(s)

Resource-based strategy

Resource-based strategy

ValuableRareInimitableNon-substitutable

Leadership

Leadership 1 of 3DEFINE A CLEAR SET OF KNOWLEDGE, SKILLS AND BEHAVIOURS:A common ‘standard’ of what an effective leader of people looks like, understood at all levels across the organization, which could then contribute to a continued consistent approach to leading others and continuing development

Leadership 2 of 3DEFINE A CLEAR SET OF KNOWLEDGE, SKILLS AND BEHAVIOURS:A fair and transparent approach to the recruitment, selection and development of future leadership roles, as there would be a list of specific leadership skills against which to select and develop people

Leadership 3 of 3DEFINE A CLEAR SET OF KNOWLEDGE, SKILLS AND BEHAVIOURS:Development of effective processes to support leadership training, learning and development in these areas, and identification of learning and development needs which can then feed into future training plansIncreased effectiveness of performance evaluation and development of leaders

Conclusion and questions

Conclusion and questions

SummaryVideosQuestions

developing and executing an effective business strategy may 2012

Business

toronto training

5hr planning

skills andbehaviours

reward people

clear set

learning amp

development

strategy