Attracting, onboarding, keeping and engaging employees, is currently top-of-mind for many executives, as a prolonged labor shortage means this work is no longer a job exclusively for the HR department. Company-wide initiatives, including a strategic plan, can help mitigate these challenges by identifying key risks and opportunities centered around current and future employees.
Attracting talent through a strategic plan
Attracting talent through a strategic plan might seem like a far-fetched idea. However, it can help your organization better understand the competitive environment for human resources, put forward a crisp employer brand and define a coherent message around the vision and values of your company.
1. Better understand the competitive environment for human resources
During a strategic planning exercise, the executive team takes a fresh look at the business environment and identifies key organizational risks. If attracting talent is a challenge, the executive team should spend time outlining and prioritizing initiatives that can help HR meet the demands of the organization despite the current labor environment.
2. Put forward a crisp employer brand
Clearly defining your organization’s vision, values, and strategic priorities will help your HR function create an employer branding that resonates with external candidates. Workers are increasingly looking for fulfilling and meaningful work, with a sense of purpose. By being clear about what your company believes in, and matching actions to words, your strategic plan will strengthen your employer brand and attract candidates who align with your organizational values.
3. Define a coherent message around the vision and values of the organization
It’s important to build a coherent message around what is developed during the strategic planning exercise, to ensure there is shared understanding at all levels of the organization. This will help candidates in the recruitment process understand what matters for the organization and where it aims to go in the future.
A strategic plan to increase retention and engagement
A strategic plan not only serves the executive team, but it also serves the whole organization.
With the current challenges around employee engagement and retention, it is important to take a step back, review your strategy and outline a vision that can be shared by all. It is well known that the tone at the top has a huge impact on the company culture.
The work done during the strategic process will increase team cohesiveness at the top, which can then trickle down throughout the organization, helping employees understand the company’s purpose and vision, brings meaning to their contribution and increases employee engagement and retention.
Furthermore, a strategic plan can help increase the overall efficiency of your business. By being transparent about your organization’s priorities, your teams are empowered to make decisions and actions that are aligned with the vision, reducing guesswork, hesitancy, or off-track projects.
Are you considering a strategic planning exercise for your organization? Contact us to discover how we can help: info@melka.ca.
Sources:
McKinsey. 2021. The Great Attrition: What to do about the labor shortage
Accenture. 2021. Labor shortage: 5 ways to achieve more with less
BDC. 2018. Labor Shortage: Here to Stay
Harvard Business Review. 2021. High-performing teams start with a culture of shared values