As usual, many of my coaching conversations this month have been about change – focussing on the actions clients need to take to realise their full potential and improve their performance. One of the ways I enable others to do this, is to help them to understand and measure the impact of their actions on performance. Supporting them to get a “baseline” for their current activities, to critically analyse their ways of working, and identify where these fit with overall business strategy or not. I don’t think it’s unreasonable to ask a client how they measure what they are doing, and how these activities help them achieve their individual goals or add value to the business. But it’s surprising how uncommon this, especially when you are working with a leader at an organisational level.
One of the tools I use to help organisations review the value of the activities they take, is called the is the “Valuing your Talent Framework”.
The VYT framework provides industry standard metrics against which organisations can measure the impact of people on their business. It enables them to review inputs such as workforce composition, skills and competencies with activities driven by HR such as recruitment & retention, performance management, learning & development, employee relations, succession planning, and reward & recognition. It’s designed to help you better understand how and where value is created in your organisation, as well as the related investments and activities which drive the most sustainable business performance.
If you want to find out more about the framework, please do take a look at the VYT website
You’ll see it’s a product of a collaborative initiative between UKCES, CIPD, CIMA, CMI and Investors in People, whose purpose is to encourage employers to invest more strategically in their people, investors to recognise human capital as a fundamental element of business strategy, and employees to benefit from better opportunities and greater fulfilment at work
You’ll also find there’s lots of useful reference material for learning more about their research on demonstrating and understanding human capital value and metrics
Personally, I feel the Valuing Your Talent Framework is a great way to sense check how well you are currently performing. If you are interested in giving it a go, then please do get in touch to discuss how we can work together to improve your efficiency and effectiveness