As the business world is growing and technology is starting to level the playing field, companies need a competitive advantage. As a result, human resource (HR) professionals have an opportunity to show value as strategic business partners. Human capital influences an organization’s ability to meet its strategic goals or implement a change in business strategy. Frank Jennings, vice president of human resources at WeaveTech, has to create a recommendation for the CEO that addresses how the company will achieve a new strategic direction (Beer & Swiercz, 2015). This paper proposes a three-year strategic and workforce plan that provides solutions consistent with WeaveTech’s organizational objectives. …show more content…
The obstacles that WeaveTech face are the no-layoff memo from the past CEO, the agenda of CVX partners and changing customer needs. Strategic opportunities that can help reach the company’s goals are its high-performance culture, innovative compensation, a generous Employee Assistance Program (EAP) and capability to supply product. These challenges impact leaderships’ strategic objectives to meet demands of customers, cut 20 percent of management, increase sales in high-end performance clothing and continued commitment to employees and shareholders (Beer & Swiercz, 2015). Implementing a balanced scorecard can help WeaveTech make adjustments to its workforce to better align with its new strategy. The scorecard will disseminate the organizations’ changes from top to bottom, but choosing the right key performance indicators (KPIs) within the scorecard will help accurately WeaveTech measure its performance against its strategic …show more content…
Continued commitment to shareholders Profit: Is WeaveTech generating returns?
Continued commitment to employees Employee Satisfaction: Analyze the use of EAP, absenteeism and employee turnover
These KPI will help develop a “new private sector philosophy and an organizational culture to support that philosophy” (Beer & Swiercz, 2015). Thus, the process of translating the vision begins. Based on the Kaplan & Norton exhibit “How One Company Built a Strategic Management System…” (2007), the scorecard developed by the executive team will communicate the new strategy to middle managers.
The next year will involve communicating and linking the new strategic throughout the entire company. Programs based on the new philosophy will be launched while other programs will be eliminated. Each business area will create specific goals that incorporate the scorecard and will have KPI directly tied to the work they perform. Then, individual performance goals can be