Forum Views - May 2023
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FORUM VIEWS - MAY 2023
2. Link human capability to stakeholder value.
Often investments in any of the four human capability
pathways have scorecards, dashboards, benchmarks, and
best practices around accomplishing each initiative. But
measuring the impact of initiatives on outcomes that matter
provides more insightful information to an organization.
The impact on an organization’s stakeholders determine
outcomes that matter. Organizations are comprised of
stakeholders who each get value from their interaction with
the organization. Human capability investments should be
linked to the value they create for each stakeholder (see
figure 2).
Our (and others’) research has demonstrated that
organizations that invest in human capability will deliver
these seven stakeholder outcomes.
Figure 2: What does each stakeholder receive from improved human capability?
3. Help each organization prioritize where to invest and
disclose their human capability efforts.
With the human capability framework tied to stakeholder
outcomes, leaders can make better choices about where to
focus their people and organization efforts. Often a company
invests in one of the 37 initiatives in figure 1 for several
different reasons: it is considered a best practice in an
admired company; it builds the organization’s reputation
(socially or by being politically correct); leaders believe in
the initiative (survey says “do this”); an advisor
recommends it; or it is easy to do. Success is then defined
by the initiatives being implemented on time and within
budget.
We would hope that leaders can use rigorous analytics to
determine which of the four pathways and 37 initiatives
deliver the most value to the seven stakeholders.
Prioritization is not just intuition but information.
Implications of Taxonomy, Stakeholder Value, and
Prioritization for Conversations
The implications of this framework, stakeholder, and priority
logic changes HR conversations.
In conferences for senior leaders, the human capability
topics chosen to talk about should be those that create the
most value for stakeholders. Using the four categories,
participants at these conferences get a balanced view of the
talent, leadership, and organization choices that they could
consider for their organization. They have a portfolio or menu
of choices that they choose from depending on the needs of
their specific stakeholders.
In my reviews of human capability agendas from one year to
the next, agendas should build on each other to cumulate
knowledge at the four-category level rather than focusing on
isolated experiences. Instead of repackaging ideas, they
could evolve based on new insights.
Often investments in any of the
four human capability pathways
have scorecards, dashboards,
benchmarks, and best practices
around accomplishing each
initiative. But measuring the
impact of initiatives on outcomes
that matter provides more
insightful information to an
organization.
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