People Development Strategy to Improve Your Business Performance
BlogBusiness Evolution Posted: Tuesday 21st October 2014 by
At the heart of every successful organisation is a performance improvement plan, underpinned by a robust people development strategy. Whatever the size of the business — from FTSE-listed plcs with thousands of staff, to niche SMEs – managing performance and developing people is an investment opportunity that should never be overlooked.
The psychological link between a well-motivated and highly trained workforce, and substantial business performance is a scientific fact. Even if an organisation feels it’s done with developing its people, in reality, management-led performance improvement is a continuous and ever-changing process that needs to be constantly revisited.
Put People Development on the HR Agenda
When running a busy company, or large team, it can be easy to overlook the fundamentals of people development. The collaboration of executive teams and HR in the development of learning, performance management and succession plans, is critical to retaining key talent.
To ensure the organisation remains in peak condition, your people development strategy must be a priority on the HR agenda, and be visible across the business as a whole. To achieve this, it’s important to produce and improve effective people development and leadership coaching plans, together with making learning and development opportunities widely accessible across the entire organisation, and aligning training programmes to organisational and departmental needs.
Identify People Development Needs
The requirements that an organisation will have of its people, depends on a number of contributing factors that are unique to each and every business. Required knowledge and skill across the business will often include market, competitive, and economic factors, which will all have to be considered when identifying the development needs of key talent.
Identifying the gaps in skill / knowledge of individuals or teams within a business can be achieved through establishing a core competency framework and robust review and appraisal processes. Strategies can then be put in place to bridge these gaps and build a highly developed team, who are trained and ready for top-level performance that will significantly contribute to the bottom line.
Implement a Learning Solution
Each person, irrelevant of seniority or skillset, learns and develops at a different pace and in different ways. HR L&D teams should recognise that when it comes to learning and development, a one-size-fits-all approach is often not the best solution.
There are many options to motivate individuals and wider teams to embrace learning and development opportunities, including individual leadership coaching, group mentoring, classroom-based training and e-learning / distance learning programmes. By exploring alternative methods to traditional training, a company can fully harness the advantages of emerging technology to satisfy their organisational people development plans.
Measure and Support Learning Results
Your people development strategy is not over with the completion of a training course or coaching session. Regular monitoring, reporting and analysis of L&D and performance improvement programmes is the only way to ensure a healthy return on investment. By observing and recording the behavioural and cultural changes of an organisation, including 360 and peer-to-peer feedback sessions, HR teams will have a tangible way of reporting against successful performance improvement that will positively impact bottom line.
Human Results provide deep-level expertise in the management of business evolution, executive coaching, and full service HR provisions. For more information, visit www.humanresults.co.uk or call our team on 01952 288361.