8. Terminology relevant for this career area
Term
Simple definition
Strategy
Action planning and resource allocation to position a company or organization for sustained success in their sector.
People Strategy
Refers to the company's strategy to attract, engage, develop, reward and retain talent in an organization. As a CEO/board-related topic, people strategy should be among the top two or three most important topics in senior management´s agenda. It should be summarized in the people value proposition—the summary of how the company will address the five dimensions in the context of the market in which it competes.
HR Strategy
The strategy of the HR function, whose primary mission is to inform and lead a company’s people strategy, addressing HR model topics such as “HR Business Partners,” “HR Centers of Expertise,” and how to deal with outsourced or co-sourced parts of the HR operating model, among other things.
Strategic Planning
The process of developing overall plans that would deliver the strategy of an organization.
Performance Management
Managing individual performance from target setting to actual performance. It includes “performance conversations” that include both the business KPIs an individual is accountable for and broader development areas. It may include performance improvement plans to help employees who are not performing optimally.
Operating Model
The combination of how organizational structure, processes, information flows, decision rights and incentives determine how work gets done in an organization.
Change Management
A structured approach to plan, implement, manage and guide change initiatives within an organization, to ensure they achieve their desired outcome.
Leadership Development
The overall approach taken to identify, assess, prepare and develop current and future leaders in an organization, to ensure it stays competitive in the market.
Succession Planning
A structured process, typically facilitated by HR, to systematically identify, assess and develop an organization’s talent to prepare them to move into leadership positions in the future. Succession planning examines both individual performance and potential.
Organizational Behavior
How individuals, teams and groups within an organization interact and influence its functioning and performance.
Organizational Culture
The fundamental set of norms, values and beliefs within an organization that drive how, in practice, it gets things done.
Program and Project and Management
The methodology and approach for structuring activities undertaken in pursuit of a particular purpose. This includes scope, quality, risk, time, resource and budget management, among others. Programs are a collection of projects.
Organizational Transformation
A comprehensive approach in redefining an organization’s structure, processes and culture to achieve lasting change. It’s mainly focused on lines, boxes, decision rights, information flows and the incentives that drive alignment and motivation across the different parts of the organization.