Developing and executing an effective business strategy May 2012

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Half day open training event held in Toronto.

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Developing and executing an effective business strategy May 2012

  1. 1. Developing and executing an effective strategy by Toronto Training and HR May 2012
  2. 2. 3-4 Introduction to Toronto Training and HRContents 5-7 8-9 Types of business strategy Conversations around strategy 10-11 Competitive advantage 12-15 Behaviours required 16-17 Silent killers 18-23 HR strategy 24-26 Recruitment and selection strategy 27-30 Learning & development strategy 31-33 Recognition and reward strategies 34-35 Employer brand strategy 36-39 Social media strategy 40-41 Sales compensation strategies 42-43 Resource-based strategy 44-47 Leadership 48-49 Drill 50-51 Conclusion and questions
  3. 3. Introduction Page 3
  4. 4. 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 Page 4
  5. 5. Types of business strategy Page 5
  6. 6. Types of business strategy 1 of 2DefenderProspectorAnalyserReactor Page 6
  7. 7. Types of business strategy 2 of 2Cost leadershipDifferentiation Page 7
  8. 8. Conversations around strategy Page 8
  9. 9. Conversations around strategyWhat is strategy and how do you create it?What roles should employees at differentlevels play in strategy? Page 9
  10. 10. Competitive intelligence Page 10
  11. 11. 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 Page 11
  12. 12. Behaviours required Page 12
  13. 13. Behaviours required 1 of 3LEADERS; CREATE STRATEGYAspireEvaluateIntegrateOptimizeUphold Page 13
  14. 14. Behaviours required 2 of 3MANAGERS; RESPONSIBILITY FOR STRATEGYAlignEducateInformOrganizeUtilize Page 14
  15. 15. Behaviours required 3 of 3FRONT-LINE EMPLOYEES; SUCCESSFULEXECUTION OF STRATEGYApplyEngageInnovateOwnUnderstand Page 15
  16. 16. Silent killers Page 16
  17. 17. Silent killersQuality of directionQuality of learningQuality of implementation Page 17
  18. 18. HR strategy Page 18
  19. 19. HR strategy 1 of 5Recruitment and retentionCompensationPerformance managementTraining and developmentSuccession planning Page 19
  20. 20. HR strategy 2 of 5SOCIAL HR INITIATIVESIdentifying your purposeEngagementResearchAlertingSupport Page 20
  21. 21. HR strategy 3 of 5HR PLANNINGScanning the horizon to see what likely changesare coming up and what are the implications forstaffingExamining the supply of labour within theorganization in terms of age, experience,qualifications, pay, conditions and performance ofexisting employeesMaking a comparison between the demand andsupply of applicants Page 21
  22. 22. HR strategy 4 of 5HR PLANNING-QUESTIONS TO ASKAccommodationCostsCultureDevelopmentIndustrial relationsLayoffsOrganization developmentOutplacement Page 22
  23. 23. HR strategy 5 of 5HR PLANNING-QUESTIONS TO ASKPromotionsProductivityRecruitmentRetirementReward systemsTraining and retrainingTransferWorking practices Page 23
  24. 24. Recruitment and selection strategy Page 24
  25. 25. Recruitment and selection strategy 1 of 2PRIMARY FEATURESRecruitment and selection practices should reflectthe organization’s strategic plansA long-term focus should be apparentA bridging mechanism for translating long-termplans and organizational priorities into practicalrecruitment and selection policies/practices Page 25
  26. 26. Recruitment and selection strategy 2 of 2SECONDARY FEATURESSophisticated and complex approach torecruitment and selection with a wide array ofmethods usedRecruitment and selection processes which areaccorded high status as activities within theorganizationThe use of practices which are clearly sensitive tothe impact on candidates Page 26
  27. 27. Learning & development strategy Page 27
  28. 28. Learning & development strategy 1 of 3Horizontal integrationVertical integration Page 28
  29. 29. Learning & development strategy 2 of 3Corporate strategic levelBusiness unit/managerial levelOperational level Page 29
  30. 30. Learning & development strategy 3 of 3HOW TO GO ABOUT IT:Allocate responsibility for L&D strategydevelopmentClarify organizational missionExplore core organizational identity and valuesCarry out SWOT or PESTLE analysis to identify thestrategic issues facing the organizationAgree a strategyProduce a strategic plan Page 30
  31. 31. Recognition and reward strategies Page 31
  32. 32. Recognition and reward strategies 1 of 2RECOGNIZE AND REWARD PEOPLE THAT:Particularly demonstrate or contribute to corevalues/attributesCome up with outstanding ideas for improvementor that impact significantly on revenue or cost-savingShare relevant knowledge and best practice withother members of the team that leads to markedimprovements in performance Page 32
  33. 33. Recognition and reward strategies 2 of 2RECOGNIZE AND REWARD PEOPLE THAT:Achieve professional qualifications etc. thatenhance their ability to deliver projects Page 33
  34. 34. Employer brand strategy Page 34
  35. 35. Employer brand strategyHOW IS IT DEVELOPED?Market researchProduct researchMarketing method researchMotivational researchAttitude surveys Page 35
  36. 36. Social media strategy Page 36
  37. 37. Social media strategy 1 of 3ACCEPTANCE LEVELS OF SOCIAL NETWORKSCreatorsCriticsCollectorsJoinersSpectatorsInactives Page 37
  38. 38. Social media strategy 2 of 3Research and listenCreating strategy Page 38
  39. 39. Social media strategy 3 of 3External social strategyDiversifyStay up to date with technologyRegularly monitor progressMeasurable ROIsInternal social strategyExecutive buy-in and commitmentGrassroots v systematic approachIntended audience Page 39
  40. 40. Sales compensation strategies Page 40
  41. 41. Sales compensation strategiesClarify business/strategic objectivesAssess current plansDefine objectives of sales planAssess eligibility of jobsEstablish compensation levelsSelect performance measures and weightingsDevelop the formula(s) Page 41
  42. 42. Resource-based strategy Page 42
  43. 43. Resource-based strategyValuableRareInimitableNon-substitutable Page 43
  44. 44. Leadership Page 44
  45. 45. Leadership 1 of 3DEFINE A CLEAR SET OF KNOWLEDGE, SKILLS ANDBEHAVIOURS:A common ‘standard’ of what an effective leader ofpeople looks like, understood at all levels acrossthe organization, which could then contribute to acontinued consistent approach to leading othersand continuing development Page 45
  46. 46. Leadership 2 of 3DEFINE A CLEAR SET OF KNOWLEDGE, SKILLS ANDBEHAVIOURS:A fair and transparent approach to therecruitment, selection and development of futureleadership roles, as there would be a list of specificleadership skills against which to select anddevelop people Page 46
  47. 47. Leadership 3 of 3DEFINE A CLEAR SET OF KNOWLEDGE, SKILLS ANDBEHAVIOURS:Development of effective processes to supportleadership training, learning and development inthese areas, and identification of learning anddevelopment needs which can then feed intofuture training plansIncreased effectiveness of performance evaluationand development of leaders Page 47
  48. 48. Drill Page 48
  49. 49. DrillPage 49
  50. 50. Conclusion and questions Page 50
  51. 51. Conclusion and questionsSummaryVideosQuestions Page 51

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