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All you need to know about strategy
by Toronto Training and HR
August 2015
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CONTENTS3-4 Introduction5-7 Definition8-10 Types of strategic decisions11-12 A framework for strategy 13-14 What does a typical human resources strategy contain?15-17 Creating an effective employee engagement strategy18-19 Developing a mobile learning strategy20-22 Implementing a diversity and inclusion strategy23-24 Forging a sustainable social learning strategy 25-27 Recruitment and retention strategies28-29 Retention strategies in India30-32 PESTLE33-36 SWOT35-36 Initiatives to increase levels of employee engagement37-39 Approaches to create space and time for strategy 40-41 Types of corporate control 42-43 Myths around executing strategy44-46 Comfort traps with strategic planning47-48 Exit strategies for family firms 49-50 Conclusion, summary and questions
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Introduction
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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 banking15 years in training and human resourcesFreelance practitioner since 2006The core services provided by Toronto Training and HR are:
Training event designTraining event deliveryHR support with an emphasis on reducing costs, saving time plus improving employee engagement and moraleServices for job seekers
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Definition
Definition 1 of 2
• STRATEGYFayol• Marketing, sales
and communications
• Financial management
• Service delivery, production and manufacturing
• Risk• R&D and
technology• Organization
management
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Definition 2 of 2
Drucker• Business
definition/mandate
• Growth
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Types of strategic decisions
Types of strategic decisions 1 of 2
• Making routine choices and judgments
• Influencing outcomes
• Placing competitive bets
• Managing for strategic success
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Types of strategic decisions 2 of 2
• Strategic• Non-strategic• Tactical • Operational
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A framework for strategy
A framework for strategy
• Degree of commitment
• Scope of the organization
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What does a typical human resources strategy contain?
What does a typical human resources strategy contain?
• Strategic goals• Context• Strategic vision• Supporting key
strategies• Human
Resources focus• Budget
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Creating an effective employee engagement
strategy
Creating an effective employee engagement strategy 1 of 2
Components• How the strategy
will be communicated
• How action areas will be identified
• What measurable outcomes will be used to evaluate progress
• What specific actions will be taken to address the survey resultsPage 16
Creating an effective employee engagement strategy 2 of 2
Components (cont.)• How the
engagement strategy will be sustained over time
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Developing a mobile learning strategy
Developing a mobile learning strategy
• What does mobile mean?
• What problem are you trying to solve?
• What devices will you support?
• Do you have the necessary organizational support?
• How does mobile fit into your existing learning strategy?
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Implementing a diversity and inclusion
strategy
Implementing a diversity and inclusion strategy 1 of 2
• Shared purpose and vision
• Active and visible leadership
• Accountable local sponsorship and leadership
• A comprehensive and systematic approach
• Effective program planning and implementation
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Implementing a diversity and inclusion strategy 2 of 2
• Communication• Involve everyone
in learning & development
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Forging a sustainable social learning strategy
Forging a sustainable social learning strategy
• Provide structure that focuses on learning
• Move beyond formal learning
• Connect learning with real-time work issues
• Adjust corporate cultures and attitudes
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Recruitment and retention strategies
Recruitment and retention strategies 1 of 2
• Practice learning is linked with recruitment and retention of employees
• Multilevel approach is crucial for the success of recruitment and retention of employees
• A well-defined recruitment policy as a foundation
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Recruitment and retention strategies 2 of 2
• Corporate goals-the base of strategic recruitment and retention of employees
• Career management and proper HRM/HRD
• A realistic job preview (RJP)
• Online recruitment
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Retention strategies in India
Retention strategies in India
• Survey findingsThe future• Enlarging the talent pool• Nuanced approach of
responding to the needs of employees
• Addressing different psychological makeup of younger generations of employees
• Building favourable internal conditions for retentionPage 29
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PESTLE
PESTLE 1 of 2 • Political
• Economic• Sociological• Technological• Legal • Environmental
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PESTLE 2 of 2 • Steps to take
• Dos and don’ts• Advantages and
disadvantages
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SWOT
SWOT 1 of 3• Strengths• Weaknesses• Opportunities• Threats
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SWOT 2 of 3• Internal and
external factors
• Positive and negative factors
• The SWOT process
• Dos and don’ts• What can a
SWOT analysis be used for ?
• Advantages and disadvantages
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SWOT 3 of 3 Case study• Strategy for
Ontario’s food and beverage processing industry
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Approaches to create space and time for
strategy
Approaches to create space and time for strategy 1 of 2
• Mindfulness practices• Creating ‘strategic
breathing space’ slots in the diary
• Defining habits and reminders for particular triggers
• Defining habits and reminders for particular triggers
• Reading the strategic wind
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Approaches to create space and time for strategy 2 of 2
• Learning to really listen, to the meaning rather than just the words
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Types of corporate control
Types of corporate control
• Goal setting• Extrinsic
incentives• Negative
incentives• Decision
process control• Conflict
resolution• Strategy
imposition
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Myths around executing strategy
Myths around executing strategy
• Execution equals alignment
• Execution means sticking to the plan
• Communication equals understanding
• A performance culture drives execution
• Execution should be driven from the topPage 43
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Comfort traps with strategic planning
Comfort traps with strategic planning 1 of 2
• Strategic planning• Cost-based thinking• Self-referential
strategy frameworks
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Comfort traps with strategic planning 2 of 2
Escaping the traps• Keep the strategy
statement simple• Recognize that
strategy is not about perfection
• Make the logic explicit
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Exit strategies for family firms
Exit strategies for family firms
• Stewardship
• Financial reward
• Cessation based
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Conclusion, summary and questions
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Conclusion, summary and questions
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