The benefits of strategic thinking moving forward into 2015
This week, The Times printed a 4 page article on businesses shifting focus to strategic solutions. Laura Doughty, director of strategy and operations consulting and Hilary Jeffery, director of workplace strategy at AECOM talk about the benefits of strategic thinking moving forward into 2015. "Becoming strategic involves whole-system thinking, underpinned by robust diagnostics to find the true problem, delivered through integrated teams that address people, processes, space and technology." Competition in the market drives a business to grow and improve its quality of service. Having a clearly defined strategic plan can enable a business to do just that.
Creating a defined business strategy and plan is crucial for every company, from small start-ups to larger corporations. In order to grow the business, employees and relevant stakeholders need to understand what the company is trying to achieve, and how it plans to get there. If your company is just starting out, or if you think it is time to implement a new business strategy to increase productivity, there are several options for you to consider. Whether it’s seeking perfection in the digital world, expanding the company through recruitment or establishing a company presence, it is key to focus on the end goal.
Many organisations are increasing in size and, as the team grows, it’s important to ensure that there is a strategy in place to ensure the Company is represented, internally and externally, in a way that is satisfactory to the owners, shareholders and employees. In a small company it’s easy to ensure consistency of behaviour and message. In a larger business that isn’t so easy, and one response is to define a ‘value set’, that is, how the company wishes to present itself and to be perceived by others, whether they be customers, investors, employees or suppliers.
At myHRdept, we can help your business properly define a value set that will impact on the very core of the business. If done correctly the values will define the type of people you recruit, the expectations placed on workplace behaviour, the messaging sent out to customers and investors, even the selection of projects. If the value set resonates positively with potential customers, it will help to win business. By ingraining the value set into internal and external communications (emails, letterheads, brochures, presentations and pitches) you will be able to easily identify those who align to the values and those who need to be encouraged to do so.
If you are looking to expand your company through recruitment, myHRdept offer a collaborative recruitment service for our clients. Because we work with you and get to know your business, we are well placed to find you the right candidate. Larger companies will have more progression routes than smaller ones, and so if you run a small company, you have to be creative with succession plans. A non-strategic business owner will run with the structure and hope that no one leaves. A strategic owner will identify succession risks and take actions to minimise them. Actions could vary from paying above market rate to lock a key player in (‘golden handcuffs’); using long term incentive plans; reviewing overall reward strategies; cross skilling other employees to be able to fill the gap; or looking at inexpensive ways of bringing in additional new talent before they’re actually needed, through an apprenticeship scheme or using graduate or undergraduate internships for example.
If you would like to discuss creating a successful business strategy of if you're thinking of outsourcing your HR, why not contact myhrdept.co.uk. With full service Premium Plus packages for medium sized companies typically from only a few hundred per month (and from only £100 per month for smaller companies and start-ups) and fixed price HR support options available for one-off issues, we believe we offer the best combination of quality and price available in the UK. Call us on 01628 820515 to discuss your requirements or email us here and we’ll call you back.