People Strategy Lab

Impact of Strategy Lab on Organizations

Workforce Management Strategies and their Effect

Integrating Talent Management Process

This strategy aims to attract, hire, retain and develop the talent in the employees. In doing so the management may even incur the budget for training of the employees. The skills are highly valued and management applies the talent to the required areas. The impact is huge when the organization tends to acquire its competitive advantage on the basis of its human knowledge (Ingham, 2007).

Performance-Based Management

Under this strategy, the employees are motivated to prove themselves through displaying their performance. Any employee who will achieve the set target will be given some sort of incentives and chance to develop his career in the long run. This approach is somewhat similar to MBO (Management by Objectives). The organization with this approach does not to explain every time to their employees about the criteria to be followed for the progress (Carrell, 1999).

Workforce Development Strategies and their Effect

Encouraging Creativity

The management encourages the application of creativity among the employees and let them have some participation in decision making process. Every mind has its own capacity of thinking pattern thus come up with number of ideas towards managing the work. It allows them to acquire development within the organization. The management when sees the presence of certain skills and traits in the employees, it gives them chance to explore them on a much bigger scale. The confinement of the talent is scored in the management's favor (Ingham, 2007).

Performance-Based Management and the Rationale

The performance management system works best for the organization when it comes to ensuring transparency and accountability at the same time. Within the performance system, team work approach is best for the development of the human knowledge. This is what the role of a strategy lab is since ...