Purpose

This template provides a structure for identifying key external topics that should be considered in a formal analysis of the business’s upcoming challenges. It supports an inclusive review of key external trends and their definitions, categorizing them as either “barriers” to overcome or “enablers” to leverage as subsequent business and HR strategies are developed and articulated. 

How to use this tool

Starting with each External Factor category (defined below), a team of senior HR members (or ideally, Business and HR strategists) identify “Trends” expected to occur in the coming planning period (the next year or years) that will have to be managed or dealt with in order to meet planned company and HR objectives. Such trends can be identified using annual predictions/projections by internal experts, as well as those published by governmental bodies, consulting firms, industry experts, and business analysts typically released at the end or/beginning of each calendar year. Each trend is then reviewed and identified as either a barrier or an enabler (and why) for the company given its primary strategic objectives.