The last two years of pandemic turbulence have shown us the importance of being adaptive and agile in the face of setbacks. A good strategic performance analysis and governance process will help to manage the future transitions better. Those who did not have robust strategic governance and performance management systems suffered much more – the SME sector was one such victim.
In many global organisations, I have seen CHROs taking on the mantle of strategy execution using such frameworks as the balanced scorecard. The use of such frameworks is more relevant today than ever, and evidence shows that old frameworks need not be discarded. After all, Harvard Business Review says the balanced scorecard is the most revolutionary management tool of the last 75 years!
There is a valid reason for the CHRO to take this role – any execution of strategy can only happen through the employees. Any reluctant CHRO will be more motivated by the recent elevations of HR folks to CEO roles globally (Leena Nair at Chanel, Leslie Motter at Make-a-Wish, Brianan van Strijp at Anthemis, etc). Getting the holistic view of business will help them fast track this move. As our experience shows, the strategy execution champions normally become CEOs faster than their peers.
Assuming that an organisation has translated its strategy into a balanced scorecard format of strategic themes, objectives, metrics, and initiatives, how does one analyse the data to drive strategic governance? Strategic performance governance requires collecting, organising, scrutinising, and interpreting data. The goals are to know how well the strategy is getting managed, to test the soundness of the strategy itself, and to identify areas for
improvement or change. To prepare and conduct
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How Digital Transformation Can Power The Great Reset
Technology has the potential to serve as the key enabler of change between digitalising administrative tasks and fostering human connections
The Crypto Meltdown Of 2022
FTX implosion: A setback, but not the end for the crypto market
Govern Pre-IPO Unicorns to Create Value; Not Valuation
Billion-dollar startups always make the headlines. But is there true value behind those eye-catching valuations? How can proper governance be implemented for these much-hyped companies?
On change and change management
The best way to end the year, especially such a disrupted one as 2022, is by laying the groundwork for the year to come. Michelle Yong, Head of Resourcing at Shell, offers some insights on change management to bring us forward into 2023
The Great Reconnection: A paradigmatic moment for employers and employees
This year has not been a good one for employee retention. The Great Resignation, originally thought to be a US phenomenon, has emerged in Asia now. But is there a way to turn it into the Great Reconnection?
Lessons Managing in leadership: a global hybrid team
What takeaways can we draw from the pandemic? Fatima Koning, Chief Commercial Officer at IWG, shares what the last five years have taught her about managing a global sales team across 120 markets in the hybrid model
Eight HR trends that we saw throughout 2022
As companies manage their workforces in a dynamic era, HR departments have continually adapted and adjusted, and never more than this year as digital acceleration and workplace evolutions came together
One way to turn the tide of employee retention
There's a surprising link between skill development opportunities and job satisfaction. Here are some ways of boosting skilling and thereby talent retention
A key focus for L&D going into 2023 should be business alignment
Venkat Subramaniam of Degreed believes that learning is core to business success and organisations need to invest in the right processes and technologies to adapt to continuous change
WOMEN IN LEADERSHIP CAN BE GAME GHANGER FOR INCLUSIVE FUTURE OF WORK
BREAKING FREE FROM THE STEREOTYPES IN THE INSURANCE SECTOR, PAMELA THOMSON-HALL SHARES HER JOURNEY OF BEING A CHAMPION FOR WOMEN AND BRINGING ABOUT A CHANGE IN A MALE-DOMINATED INDUSTRY
