From Understanding to Action: Crafting the Right HR Strategies
Goal
Time Horizon & approach
Ambition level
HR Strategic focus/Actions
2-5 years Manageable set of strategic experiments, trial and errors
Strategic Focus : Attract and retain innovative talent, foster a culture of creativity. Action : Invest in talent acquisition for diverse skills, encourage cross- functional collaboration, and create an environment that values experimentation and risk-taking..
Might seem small at the beginning but leaf frog in long run Need sufficient short-term traction to justify direction Example : 1% revenue from new business (1 st year) 10% revenue from new business (3 rd year) 20X annual increase of user engagement
Scaling up what work
Innovation
Exiting early what doesn’t work
Making profit from a new revenue stream
and new way of making money
1-2 years
Substantial, Double digit difference in KPI
Strategic Focus : Optimize workforce efficiency and operational processes.
Fundamental analysis
Action : Assess and streamline existing processes, identify areas for cost reduction, and ensure workforce adaptability.
Strategic solution
Example : 10% more cross-selling 15% cost reduction of SG&A
Renewal
Chopped into manageable pieces for execution
Increasing profitability resulting from intervention in current operation
Quarterly, Half-year, <1 Year,
Small, single digit difference in KPI
. Strategic Focus: Enhance employee skills and encourage a culture of continuous learning. Action : Implement training programs, foster a mindset of ongoing improvement, and leverage feedback mechanisms.
Example : 5% lower failure rate 6% increasing customer satisfaction
Brief analysis
Improvement
Practical solution
Doing thing better everyday
Executed immediately
Adapted from Gartner, 2023
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