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Assessing External and Internal Business Trends, Pressures, and Drivers of HR Strategy.

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Wowledge Expert Team
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How it works

An important step in the development of a comprehensive HR strategy is researching and determining factors that are currently (or projected to be) operating in an environment both external to the company and within it. The factors identified in these “environmental scans” may represent either a (negative) barrier to success or a (positive) enabler of success. For example, the (external) trend of high smartphone usage amongst consumers for online shopping would be an enabler for the development of a mobile digital online shopping experience (and for employee-facing tools as well); a lack of (internal) programmers with mobile optimization expertise would be considered a barrier to success. The key is identifying those external and internal barriers and enablers as challenges to be addressed or strengths to be leveraged through components of the HR strategy. 

looks_oneIdentify external forces and influencers that impact planned goal achievement

An external scan of trends that could impact the company comes in the form of research and expert interviews/focus groups that reveal possible factors that could impact the success or failure of a given business or HR strategy. A review of annual publications provides macro-economic, trade, and employment projections - such as those from various branches of the national governments of the U.S. and other developed nations (e.g., Federal Reserve, U.S. Department of Agriculture), financial services companies (e.g., banks, investment houses), consulting companies (e.g., accounting and management consulting firms), and applicable business news outlets (e.g., Forbes, Fortune, etc.).  

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