For now, this is out of scope but I will provide more information on how to do proper scenario planning with data in another article. Division Goals & Metrics . UCB Strategic Management and Metrics . Most organizations, small and large, have a defined vision, mission, and strategy. Those will be at the crux of your strategic plan. UNC-Chapel Hill’s 2020 “Carolina Next Strategic Plan” are aligned the UNC System’s strategic plan and with our nine specific performance metrics. You’ve developed your strategy plan and have a clear road map designed to reach your vision. Metrics will help foster learning, support the strategic initiative story, integrate the many components, and encourage good decision making. This example shows how a strategic plan can be structured to allow for the development of outcome-based metrics. Now, if you already have these metrics in a dashboard, great! Measures are quantifiable performance statements, and […] Process Performance Metrics, also called KPI’s (Key Performance Indicators)focuses on how the task is being performed by measuring performance and if individual goals are being achieved. Goal 1: Enhance Student Success; Goals 2 and 3: Invest in Faculty and Infrastructure and Support Interdisciplinary Scholarship; Goal 4: Pursue Organizational Excellence; Goal 5: Engage Locally and Globally; Download Report Metrics (PDF) Progress. He works at OrgVision and Bright & Company with partners and clients on designing workforce strategies using data & analytics. Here are some criteria to consider in developing a strategic planning metric: As an exercise, ask yourself this question, if an investor, shareholder or source of grant funds came to you and asked you to make the case for why the organization should continue a strategy or program you are now investing in, could you answer the question with hard data? Budget . Measurement must be continuous, so a well-run organization needs to generate monthly financials and track metrics for SOs on a regular basis. Choose a measure that can definitively show you whether your marketing campaign is bringing in new customers vs. some other factor such as word of mouth or a more aggressive sales campaign? Benchmarking Benchmarking is the comparison of your metrics with a competitor or industry average. So, what are the key ingredients to prepare the organization for the future in terms of people and work? He introduces 7 Questions you can use to partner with your people for better performance…Use Bill Dann’s good questions, and I guarantee not only that you will become a better leader/manager, but that your people will become better performers.”. These valuable insights are making HR an indispensable strategic planning partner. The following samples are included in this guide. Framework . Metrics give you these answers. 4 METRICS FOR WORKFORCE PLANNING VISIT US | ORGCHARTPRO.COM Workforce Metrics A combination of metrics is needed to clearly understand workforce strengths and challenges. For example, let’s say you are implementing a new marketing campaign to attract new customers. PGS is a premiere organizational consulting resource for executives, governing boards and management teams throughout the United States. HR Metrics & DashboardingCertificate Program[Now Open], Enroll now and become an HR Reporting Specialist, The 21 metrics you need for Strategic Workforce Development, Digital HR Transformation: Stages, Components, and Getting Started, 5 Reasons Why Your In-House HR Assessment Will Fail (and how to avoid that), Effective People Analytics: the Importance of Taking Action, How to Conduct a Training Needs Analysis: A Template & Example, Evaluating Training Effectiveness Using HR Analytics: An Example, How Natural Language Processing can Revolutionize Human Resources, Predictive Analytics in Human Resources: Tutorial and 7 case studies, The number of Full-Time Employees and the number of individuals in the target group, The core number related to the staffing of the organizational formation is key to describe trends in workforce needs, The average age of the people within the target group, This is an indicator of the level of seniority within the target group, The percentage of people that leaves the organization (either voluntary or involuntary). These metrics, address graduation rates, enrollments and completions of low income and rural students, research, and production of graduates meeting critical workforce needs. Find out why your city’s strategic plan isn’t living up to its full potential in this free ebook. A strategy plan, more commonly known as a strategic plan, is a list of strategic goals together with an action plan to achieve each goal.This is the output of strategy planning and may be developed at the level of an organization, department or team. Elements of Effective Workforce Planning. Strategic Planning Key Performance Indicators. Organize metrics and qualitative indicators around goals and priorities. Choose a measure that is cost-effective to produce. Review of Approved Strategic Plan Metrics • The Board-approved Strategic Plan includes a series of metrics to evaluate State ... Identify areas of focus to achieve strategic goals • For example, moving away from premium credits to outcomes and steerage. energy use). The word planning has a very top-down approach to the process, while I think getting your people ready for the future needs of the organization is as much an ongoing conversation with your people as it is a conversation about your people. An example of a measure and its metric would be the percentage of planned portal monitors that have been deployed at seaports (measure) and the number of … Financials . Campus Common& Unit Metrics Strategy & link to . For example, a “why” might be reducing staff turnover, and the strategy chosen to influence turnover is implementing flex time. Metrics . An example of a Metrics Cube is in the image below. This is where strategic workforce planning, or development, comes in. A sound strategic planning metric is one that measures whether or not a strategy on your strategic plan is working. At a later stage, when you want to know how these target groups will most likely develop in the coming years with the knowledge of now, you’ll need to extrapolate some of the data used for these metrics. Even a concept plan to create a business opportunity or a project plan to implement a task is also a good example. Coauthor of The One Minute Manager and Cofounder of the Ken Blanchard Companies. “…I love Bill’s book. Conversely, Operational Planning is concerned with internal environment of business. In this article, we will explore the key metrics that you need to prepare your organization for the future. Approved Metrics – Improve Members’ Health . What are examples of strategic planning? Your metric would measure staff turnover before flex time and after to assess the impact of your strategic project on the turnover. Logic Map/ Results Chain “Information Technology Unit” Unit Activities Measurement/Example Metric. He also has extensive experience in implementing HR analytics and digital HR tools and processes. Choose to measure a specific strategy to assess its impact. Diversity & Inclusion is a demonstrated benefit to business. Creating Strategic Metrics. For example, if a large proportion of a target group is nearing their retirement age, or if engagement scores for key employees are very low, make them pop out! For example If you are wanting to measure customer satisfaction through a customer survey, consider the cost to survey your customers on a frequency that will really help you. Creating good, solid measures is the first step to developing your performance scorecard. You must have JavaScript enabled to fill out this form. Choose to measure the “why” behind a strategy. For example, if it is important for the organization that a target group (e.g., IT specialists) acquire new knowledge and skills (e.g., agile UX software development), you might want to include information form Learning & Development on how many IT specialists have already followed this training. While a strategic plan does share common elements with a business plan, or even execution plan, it is very distinct from both of those things. Focus on university-wide (aggregated) metrics and qualitative indicators but include, where appropriate, unit-level ones. In this article, we will dive into what workforce planning is, the process, give a number of examples, and end with a toolkit on how to get started when you want to start planning your workforce. If not, then you might consider putting in place metrics to evaluate your strategies. Just like when making project requirement checklist examples, there are also different elements that you need to consider when creating your company’s workforce planning document.A few of these factors that you need to look into include the strategic plan of the business as well as its financial resources and quality standards. Drop us an e-mail to get the ball rolling. A measure that can be taken every few months or only once a year is too infrequent to take action on. The primary difference between Strategic Planning and Operational Planning is that Strategic Planning takes into account the internal as well as external environment of business. Performance Monitoring . Copyright © 2020 Professional Growth Systems | Site Created by, Building Effective Strategic Planning Metrics. The real value of a metric is in giving you good data to evaluate your strategies early on, so that you know whether you are making a sound investment of time and money. Most of those who create HR metrics and recruiting metrics don’t really understand the strategic mindset of CEOs. Provide metrics that align with the expectations for the plan’s outcome. The number of males, females and other intersex variations, From the standpoint of diversity, this could be an important factor for some target groups, The number of people in the target groups with a certain contract type, These numbers can provide you with information on the flexibility you might have in target groups with upscaling or downscaling FTEs, The number of years in service within the target group, This number can provide information on the level of seniority and organization-specific knowledge within the target group, The average percentage of people with unplanned absence at any given moment, This number is related to the level of employability within the target group, The average age of the people in predefined age categories within the target group, This gives a detailed distribution of age within the target group and might indicate a lack or surplus of senior people. Strategic planning may be utilized on a large scale, such as planning for business growth over several years or to help a nonprofit or governmental organization reach its stated mission. Strategic Management and Metrics Project . This is where strategic workforce planning, or development, comes in. Rob van Dijk is an experienced people analytics consultant. Key Performance Indicators (KPIs) are the elements of your plan that express what you want to achieve by when. Once you have these bundled, you will have a story to tell about each of the target groups and this will help you and your project team get a sense of the people in the target groups. Contact us at the Consulting WP office nearest to you or submit a business inquiry online. Appendix. In this article, we will explore the key metrics that you need to prepare your organization for the future. U-M’s strategic plan is a great example of an easy to read strategic plan. Let’s first look at our definitions. 1 . It is very short at only 5 pages and uses graphical elements to communicate goal alignment. Example: KPI vs Metrics. Choose to … Leaders of strategic initiatives should regard good metrics as a priority. Three-Year Strategic Plan Update 2011-2014; Six-Year Strategic Plan Update 2011-2017. Strategic Process Performance Metrics serve to show if the organization is achieving the objectiv… Why monthly? This will allow you to come up with strategic planning metrics that you can use to gauge the effectiveness of your plans. Measuring our progress 11 metrics. If it is cost-prohibitive, determine a different, more cost-effective method to assess customer satisfaction. Issues . Strategic Planning @ Haas Defining Principles Leadership Brand Intellectual Economic Organiz-ational Strategic Business Plan (OGST) Academic . This is the start of building scenario’s in a model for Strategic Workforce Development and this is where people data meets business drivers. The next step is to put your plan into action and manage the process as well as the plan’s performance. Metrics can be any item that an organization would like to track such as: Profit, Revenue, Product Releases, Customer Count, etc., these metrics can be financial, statistical, or qualitative. It communicates what an organization of people believes in (vision), its goal (mission), and how they want to achieve this goal in the coming years (strategy). When it comes to strategic planning – all the five years of strategic plan – the goal may be set and that goal is KPI for the related target. An example of a great KPI is to increase new customer trials by 15% in 2019, representing a growth of 15 trials per week to 18 trials per week. Census Metrics M-101: Headcount M-102: Job Type Census M-103: Salary and Headcount Rollup M-104: Age Ratio M-105: Gender Ratio Plan . These are metrics you will need to have if you’ll want to say anything useful about the target groups: Learn to build a digital HR strategy and start leading the digital transformation in HR. A business plan is a good example of strategic planning. 14. Subscribe our newsletter to get notification about new updates, information discount. After discussions about the Drive to 25 across the WSU system during fall 2016, the campus senior leadership team and deans chose 11 metrics to measure progress toward the goal of achieving recognized status one of the top 25 public research universities in the U.S. A Metrics Cube in Planning Analytics is created first and is the basis for end users creating scorecards. Choose a metric with monthly data available. Strategic planning is the process of developing a strategy and planning its execution. 15. Tie to strategic objectives Some metrics will be financial, such as profit, revenue and cash flow. HR Business Partner 2.0Certificate Program, [NEW] Give your career a boost with in-demand HR skills. As you will recognize, these are essential ingredients required to form a people strategy and engage in strategic human resource management. This indicator should be measured by a ratio (generally represented by a number) which portrays the progress of the process as a whole or in part. Is your initiative to branch into new markets effective? To help you succeed, use this proven strategic plan template, and the information below details the 13 … The following notional example of an outcome-based strategic plan with associated outcome-based metrics illustrates an approach (and an existence proof) for measuring GNDA effectiveness. Your metric would measure staff turnover before flex time and after to assess the impact of your strategic project on the turnover. If you’re just getting started, the seven cities listed below offer a shining example of how to properly execute a strategic plan—take a look … This is a structured business process designed to proactively anticipate, and plan for, future personnel needs. In a nut shell, a business plan is a road map, to show you how to go to where you want to go from where you are. The reader can very quickly get an understanding of what initiatives have impact across the university while at the same time understand how individual initiatives apply to a specific goal area. This is a structured business process designed to proactively anticipate, and plan for, future personnel needs. Strategic Workforce Development is an important process for any business. The top ten HR metrics that have the highest chance of getting your CEO’s attention are listed below. When used well, strategic workforce planning enables HR to plan for the capabilities they need in the future. A strategic plan can also be used on a smaller scale, such as crafting a marketing plan or developing strategy for the goals of one department within a business or organization. Going forward, each division, school, department, ORU, and college will align its individual strategic planning efforts with the university’s overall Strategic Plan. Instead, provide guidance in the graphs by pinpointing results that should catch the viewer’s attention. General Approach. Effective use of data visualization will be a great conversation starter with senior leaders. Division Level Pilots* Campus Level . Good strategic planning examples all set clear priorities for an organization and focus employees and resources on established goals. And, as a result, the metrics that are reported to CEOs and the executive committee result in no positive action being taken. The most powerful motive for creating strategic metrics is to improve the focus of your team. Depending on relevant internal and external developments you might want to include specific metrics that are not mentioned above. To do this, choose a metric that isolates out all the other potential reasons for a change in the numbers and gets to the effectiveness of your strategy alone. A strategic plan is a roadmap to grow your business. There are many more metrics that might be interesting for Strategic Workforce Development but the collection mentioned above provides the more common metrics which have proven their worth for this specific process. You may also see wedding checklists. 2 People can only pay attention to a handful of things, so the question for any change agent is what metrics are preserved and what new… Metrics. Personally, I rather speak of Strategic Workforce Development than strategic workforce planning (SWP). You may also decide to track metrics related to marketing and/or sales goals (e.g., conversions, repeat business), operational efficiency (e.g., value creation index), safety (e.g., hours lost to injury) and environmental impact (e.g. Policy monitors are metrics for determining whether the true business intent of a business policy is being satisfied.Here are some facts of life about actors in the everyday drama of business activity: Actors will modify their behavior to adjust to your business rules. To ensure continued success, we will use the metrics established for each of the plan’s goals and strategies to annually assess progress. The strategic plan sets forth a general approach and set of assumptions to guide the assessment of progress over this period. Policy-Based Strategy Monitors. ... following are techniques that are commonly used to plan a strategy. Questions or thoughts? E.g.,: Important number which directly contributes to the recruiting challenges that need to be met for business continuity, without the added effort from any business growth ambitions. For example, ... A definition of budget planning with examples. But don’t just pop some screenshots in a PowerPoint to let the graphs speak for themselves. Download your free survey guide to help identify inclusivity blind spots that may affect your employees and your overall business. The latter could indicate a risk of a large chunk reaching retirement age and capacity and knowledge leaving the organization, The percentage of people that leaves the organization in specific age groups (either voluntary or involuntary), Might provide insight into age groups with abnormally high or low turnover, The percentage of people who leave the organization voluntarily and involuntary, Target groups with high voluntary turnover might risk endangering business continuity and develop chronic employer branding issues, The number of people that move in and out of the target group from or to the organization, This metric might provide valuable insights into the possibilities and flexibility of downscaling or upscaling FTEs, The number of people in predefined categories of years in service within the target group, This number can provide more detailed information on the level of seniority and organization-specific knowledge within the target group, The time elapsed between engaging a candidate for a vacancy and the acceptance of an offer, This number is an indication of the effort it requires to attract new talent to the target group, The number of new recruits who leave the organization within a year, This provides insights into the success the organization has in keeping new recruits engaged within the target group, The level of satisfaction and engagement people within the target group experience divided into specific scales, This metric is linked to many other key metrics, such as turnover rate, employability and absenteeism and could provide important information to increase employee retention and general team productivity, The number of people in specific salary scales within the target group, This might provide additional information on the level of seniority within a target group, The distribution of talents within the target group rated following the 9-grid methodology, These results could indicate how much potential the population within the target group has to fulfill future business needs and successfully reach strategic objectives, Average or distribution of scores on competencies relevant for the role s within the target group, Competency scores indicate how well the target group is developed in the knowledge and skills necessary to make the organization thrive and develop, An HR expert to translate these data into meaningful. 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