MG and Ben
7 Oct 2022
PoweredBy People Planning Process
WHY YOU NEED TO BUILD ANTICIPATORY PLANNING INTO YOUR PEOPLE STRATEGY – NOW!
By Michael Gavin and Ben Tyson – Founders, PoweredBy.
7 October 2022
Stop reacting and get ahead of fickle market trends
If your organisation is reacting to headlines about impending recessions, “great resignations” and “quiet quitters” or if you are struggling to resource or retain your workforce – chances are that you haven’t built agility or resilience by anticipating or preparing for the impacts of your external operating environment. You can reverse this and start to build positive momentum by adopting the PoweredBy People Planning Process.
Incorporate Market Awareness, Planning Performance Measurement and Benchmarking into your strategy process
It is vital to understand the importance of knowing where you are in the market now and where you will find yourself in the future. We apply the concept of “boom, bloom, gloom and doom” to broadly describe market cycles and use these market descriptors to demonstrate how various stakeholders generally react or behave in changing circumstances. Planning how you will act (not react) in the same environment gives you a competitive edge (e.g. providing security when your competitors are laying workers off in a gloom market builds engagement and loyalty in a boom market when talent acquisition comes at a premium).
We also work with you to create the right touchstones, criteria, benchmarks and performance targets to establish a realistic baseline and meaningful success factors. The factors determined here are used to not only measure success against the plan, but also to indicate potential trajectory pivot points and stage-gates.
Using Scenario Planning to drive Strategy Assurance
Changing your plans in ways that haven’t been anticipated destroys value. Testing the quality of your people strategy by simulating some possible and probable futures helps to mitigate any risks associated with the strategy by anticipating a range of variable potential situations the business might find itself in over the life of the strategy.
The PoweredBy Approach
We use a process of anticipatory planning to guide bringing market awareness, internal performance and external influences together. If you would like to find out more about how PoweredBy can help guide you to build competitive advantage through an effective, agile and resilient People Strategy please contact Michael mg@poweredby.com.au or Ben bt@poweredby.com