The People Challenge
'People are our greatest asset'
It is exceptionally difficult to value this asset, decide the most effective development approach and ensure a clear line of sight to business results.
Of all the business results drivers the relationship between people, their development and outcomes is the most intangible and difficult to interpret using traditional methods.
Delivering performance and productivity through people is now critical and more difficult. Although the development of management and leadership skills is seen as vital for success, people development spend is either fixed, reduced or stretched in over 80% of companies1, 2 so making efficient use of budget and resource and doing the right thing is absolutely vital for competitiveness.
The Key Challenge - Understanding Your People Assets
Without a better understanding of how people, development and performance are connected assumptive decisions are taken. These are weak, difficult to communicate and hard to quantify leading to increased cost, risk and waste.
People measures, such as competency frameworks and 360o multi rater feedback are used regularly to measure performance. Whilst the measures are often adequate, the tendency to use these results to understand a complex issue in a simplistic way leads to facile, erroneous conclusions.
The result is increased costs, risk taking, longer timelines for change and uncertain outcomes.
Management Informatics addresses these issues using unique analytical approaches.
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1. Watson Wyatt: Human Capital Index
2. CIPD: Learning & Development Survey 2009
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If you don't rigorously understand your people assets you break the virtuous circle connecting them to results
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