There’s a lot of talk about the importance of businesses having a People Strategy yet, like anything in the world of business, it requires some investment in time and effort to produce one. It is worth that investment?
It’s a competitive world out there and with a robust People Strategy within your Business you can see improvements in productivity, employee engagement and reduced costs, thereby increasing profitability.
A people strategy created to complement business objectives, integrating company culture and values, has been shown to help reduce staff turnover and ensure that your workforce is fully committed to achieve your overall business objectives. Considering that a huge part of business income is spent on employees the ROI on that spend is crucial. For example, in the care sector, nearly 60% of income is spent on employees whilst around 15-30% is the norm. With those sort of numbers in play, isn’t it worth some time looking at how you work with your people?