What is a People Strategy?

A People Strategy is a set of specific, prioritized choices about where and how to invest in human capital. Choices may include:

>> Employee groups to grow or shrink

>> Skill sets to invest in

>> Performance levels required

>> Number of employees needed to achieve required productivity and service levels

>> Types of work to in-source and outsource

>> Total reward strategy that defines the employee value proposition

>> Cost base associated with different segments of employees

A People Strategy is owned by business leaders, and it is viewed as critical to executing business strategy successfully. It differs significantly from headcount and salary budgeting run by Finance as well as people program and policy direction instituted by Human Resources. While a People Strategy may be driven by an HR executive, it is not just a strategy for the HR function; it is a critical strategy execution tool.

Companies as diverse as Avon, Becton Dickinson (BD), Duke Health System and Nationwide use People Strategies to articulate key choices about how to invest in human capital in order to achieve their business goals.

A People Strategy helps to direct the investment in talent and the programs to manage them. Companies without an articulated strategy run the risk of developing programs that don’t meet organizational needs or further the business. For example, a large consumer products company launched a people management "best practices" study and instituted most of the practices, unconnected to the business strategy or particular business issues. The adoption of best practices became the focus and drove most of the people priorities. Unfortunately, many of the "best practices" didn’t work as well for this company as they did for others. As a consequence, company performance lagged competitors by more than half.

www.workinfo.com/free/downloads/287.htm

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La ‘People Strategy’ es la nueva estrategia puesta en marcha este año por Ikea para el periodo 2008-2011, con un doble objetivo: «ser una de las mejores empresas empleadoras en España y la mejor en el sector de la distribución, además de incrementar el nivel de competencia de nuestra gente».

http://www.laboris.net/static/ca_carrera_ikea-paridad.aspx

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People Strategy, una estrategia basada en las personas con un objetivo: atraer, desarrollar e inspirar a los mejores colaboradores. Somos una compañía ...

www.ikea.com/ms/es_ES/about_ikea/pdf/Spain_CSR_report_FY08....

...la estrategia del negocio.