It can be hard enough to manage the day-to-day operations of an organization some days, let alone think about growth strategy. Planning for growth involves evaluating current market conditions, analyzing the competitive environment, and strategically allocating and capitalizing on resources. Companies have a lot of resources to consider in this regard: land, machinery, buildings, intellectual property, etc. But one of the most important assets companies possess is their human capital.
In an article for Chief Outsiders by Don Lee titled “Is Your Org Chart Aligned with Your Growth Strategy? Four Questions to Ask Today,” Lee helps frame the discussion on how your employee development fits into your future business plans.
Do You Have the Right People on the Bus?
While it’s certainly true that employees with potential can be developed into future leaders, not all employees start with the same amount of potential. Your recruitment efforts should take into consideration not only the skills you need right now to fill current open positions but also what skills you’ll need to take your company to the next level.
Does Your Organization Chart Demonstrate Healthy Accountability?
For growth-oriented companies, it’s important to have managers in place who can not only run their departments effectively but also foster growth and development among their staff. The presence of one of these skills definitely does not predict the presence of the other.
How Does Your Org Chart Line Up Against That of Your Competition?
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Many companies are fairly open with their organizational charts, particularly at higher levels. And, depending on the industry, your managers may be fairly well-acquainted or at least familiar with the members on that org chart from previous work experience, industry networking, school, etc. This information can be useful in evaluating the employee development strategies of your competitors.
Does Your Org Chart Promote Brand Ambassadors?
Facilitating the growth of employees who can act as brand ambassadors within your industry and to potential customers is an important element of developing tomorrow’s leaders. And as with so many other business skills, practice makes perfect. What steps are you taking to help develop your future brand ambassadors?
Human capital is increasingly a key element of any corporate strategy, and long-term growth is no exception. Lee’s article explores some of the key questions businesses should be asking themselves when it comes to crafting such a strategy and evaluating their potential.