Developing & Engaging Your People – The Competitive Advantage
What does it take to run a marathon?
Vision to see the goal, training to reach peak fitness, the positive mental attitude to stick with the task and the strategic plan that brings these variables together. Months of preparation are required and progress has to be carefully monitored to keep the runner firmly on course.
Along the way there may be times of stress or de-motivation. That is when the athlete must refocus on the goal and the sense of personal achievement it will bring. At all times the strategy must be clear, giving direction, providing inspiration, ensuring ultimate success.
Vision and Strategy
As it is with the runner, so it is in business where without vision, training and the right mental approach, the company cannot achieve its goals. Every organisation is made up of individuals who need to be motivated, engaged, given direction and most importantly, a goal to aim for.
Individuals may not reach the goal on their own but through working in teams, inspiring each other, they can develop and combine their skills and ideas to achieve ultimate success. Central to this is the business strategy against which progress can be measured and intermediate targets identified.
The benefits of a strategy are many, the most important being that it provides the business with direction and the ability to build and sustain a competitive advantage. It ensures consistency in the internal activities of the business and a constant awareness of the external environment. Above all, it ensures that the organisation has the capability and resources to match its opportunities.
To start to form a strategy, the following questions should be answered:
* Why are we here?
* Where are we going?
* How do we plan to get there?
* What does the business need to achieve its goals?
* How will the business measure its progress?
Economic Challenges – People make the Difference
Today’s external demands and current economic challenges require a business to obtain and manage knowledge and expertise. It needs to be prepared to move quickly to keep pace with developments. The organisation’s people need to be open to change and be equipped with the knowledge, skills and attitudes necessary for survival and growth.
Only people can make the difference to a business and provide it with the necessary competitive advantage, therefore learning and development must be a priority on the senior management agenda. It is essential that in the strategic planning process, knowledge and skills required for the future are identified and learning and development needs analysed across the business. Learning and development is central to how a business can access and develop the critical skills to maintain long-term performance.
Ownership and Measurement
Once learning and development needs have been established then a strategy and plan of action can be implemented. To ensure full integration of newly acquired knowledge and skills, the learning must be ‘owned’ by line management who are responsible and accountable for not only developing their people but also for coaching, monitoring and measuring individual performance against the organisation’s overall aims and objectives.
In order to achieve this, learning and development must be supported by systems including performance appraisal, goal setting and measurement, proactive management of change and methods of formal and informal communication. Everyone working within the organisation must always be aware and understand the overall business strategy and the part they play in achieving the aims and objectives.
Impact on the Bottom Line
In our current economic climate the development and management of people cannot be left to fate or luck. The knowledge, skills and attitudes of people have to be recognised as a competitive factor, which is often company specific and can only be achieved on a long-term basis.
Learning and development is vital to the overall success of the business and must be given appropriate support. It should not be used as a fringe benefit or viewed as an unnecessary cost, but be assessed in line with the contribution that it makes to the development of the organisation and the impact on the bottom line.
Developing talent within a business should be a continuous, analytical task requiring constant improvement. All employees should have an opportunity to contribute to both the planning and implementation of the learning and development process, which will in turn create ownership and commitment to the overall business strategy.