Regardless of your company’s size or function, it’s likely that your employees play a big role in determining what your values are. For an organization to drive and sustain growth, its business and HR goals need to intersect, and having a People strategy is one way to make this happen.
People strategy: The set of practices that determine how you attract, retain, and grow your employees in order to best accomplish your company’s mission.
At their core, People strategies are put in place to keep businesses, HR teams, and employees aligned. For HR teams, they are a way to drive business outcomes, like increased productivity or reduced turnover. For employees, People strategies are structured to help them reach their fullest potential through support programs and learning and development resources.
Having a People strategy is important for any organization looking to engage, develop, and retain its workforce, making them an essential part of your overall business strategy.
HR has come a long way since its early, mostly administrative origins. While they can overlap, People strategies and HR strategies are different tools, and it’s important for HR professionals to be aware of the distinctions between the two.