Avoid The Number 1 Pitfall Why Company Goals Fail

With the economy starting to improve, Canadian businesses are hoping for a turnaround from last year's performance, and targets to increase profits are in everyone's plans. Most of us have already learned the number one rule in goal setting which is to make the goals realistic. Managers also need to avoid the number one pitfall why company goals fail even if they are achievable.

Number 1 Cause of Failure

Many companies do not take into consideration the dynamics of their organization's resources and capabilities required to achieve these goals. The discrepancy between Corporate Strategy and HR Planning is the number one cause of failure.

HR Planning is a Necessity...

to ensure that your company has the right personnel to meet corporate objectives. The key goal of HR Planning (according to Bacal & Associates) is: "To get the right number of people with the right skills, experience and competencies in the right jobs at the right time at the right cost."

Here Are the Basic Steps to Get Your HR Plan Started:

(Sources: HRCouncil.ca and Bacal & Associates)

1. Workforce Analysis: A key component of HR planning is understanding your workforce and planning for projected shortages and surpluses in specific occupations and skill sets. Understand the knowledge, skills and abilities of your current staff. A skills inventory for each employee would be useful for this task. 2. Internal Scan: Identify factors internal to the organization that may affect HR capacity to meet organizational goals. Understand which strategic goals of your company will affect human resources. Consider the number of new jobs, how many staff, and what skills will be needed. 3. External Scan: Determine the most important environmental factors expected to affect workforce capacity, given known operational and HR priorities and emerging issues. Combine this with Internal factors to forecast HR demand and supply. > Read More...