Catalant’s software to create alignment between Business Objectives, Work, and Resources
Catalant’s software to create alignment between Business Objectives, Work, and ResourcesAugust 10, 2020
August 10, 2020
A company’s strategy is its plan to achieve its most important goals. Strategy execution means aligning work with the company’s plan and goals. One of the most critical parts of doing that is aligning the people who make work happen — whether they’re inside or outside of a company — with the work that needs to get done.
While this is logical and intuitive for most business leaders, aligning work happening across the company with the company’s business objectives is a challenge for most large organizations. In fact, according to survey data from 451 Research (part of S&P Global Market Intelligence), “aligning priorities across the organization” and “ensuring plans are actionable” are the two biggest challenges that organizations face in executing their strategies. According to Gartner’s Strategy Execution Benchmark, only 30% of strategists agree that execution efforts are aligned with strategy.1
The need for greater alignment between strategic objectives and work execution is precisely why many organizations have created enterprise PMOs, strategy realization offices, transformation management offices, and similar centralized groups responsible for prioritizing and orchestrating interconnected activities across portfolios of work. These groups are critical to ensuring alignment between strategic objectives, work, and resources; however, even capable and experienced strategy, transformation, and portfolio leaders with strong implementation programs struggle when they do not have the right technology to support their activities.
The problem is that they simply lack the internal visibility required to effectively plan and execute. They need visibility not only into what they are trying to achieve, but also into the potential bodies of work that could help them to get there. To complicate further, they must analyze how their resources align with that potential work.
Ultimately, in order to prioritize effectively and take an objectives-focused approach to strategy execution, businesses need greater awareness of how their objectives, work, and people come together.
1Gartner, “Strategy Execution Benchmark Survey,” 2019.
BREAKING IT DOWN
Increasing alignment between Business Objectives, Work, and Resources creates measurable value for your organization.
Failure to align business objectives, work, and resources results in inefficiency and waste for large organizations. These inefficiencies can take many forms, such as:
- Work that is redundant or misaligned with your company’s strategy;
- Execution delays or project failure due to communication lapses across teams or functions;
- Execution delays or project failure due to organizational capability or capacity gaps;
- Missed opportunities to capture synergies across different functions or business units that could save time and resources; and
- Higher rates of attrition within the workforce.
It is self-evident that wasted work and delayed execution cost companies money. It’s also clear that opportunities to increase productivity and efficiency save companies money. Since building closer relationships between business objectives, work, and resources results in less waste and greater efficiency, it follows that strengthening these relationships generates measurable value for your business.
To help enterprise leaders at top, global companies understand the impact that the Catalant Platform and Expert Marketplace can drive for their organizations, our Business Transformation team has been applying quantitative approaches to gather data and analytically express the value of this alignment.
While the idea of wanting tighter connections between business objectives, work, and resources is logical, business leaders who are unfamiliar with the Catalant Platform and Expert Marketplace may ask: how does Catalant’s technology actually help businesses to strengthen this alignment?
How does the Catalant Platform enable you to increase alignment between Business Objectives, Work, and Resources?
The Catalant Platform enables business leaders across the company to take a uniform approach to designing workstreams to achieve their strategic objectives. After defining, breaking down, and organizing work within the platform to identify the capabilities needed to execute, project and initiative owners are able to easily find and access the people with the right skills and experiences, track how work is progressing against desired business objectives and success metrics, and surface insights on the impact of resources on work.
Defining How Work Aligns with Strategic Objectives
Project and initiative owners can make clear business cases when creating new bodies of work in the Catalant Platform. Explaining the business case, defining success metrics, and drawing a straight line from how individual projects and initiatives connect with the strategic objectives of the business allows for more informed decisions about what work is prioritized.
Creating Awareness of How Work Contributes to Strategy Execution
Awareness of how work is aligned with business objectives is not only useful from a top-down perspective: it also helps to create cultures of empowerment and accountability, which increases engagement and drives performance at the execution level. Employees who are executing strategically important projects can quickly see how their work contributes to higher-level initiatives and business objectives.
Getting Visibility into How Knowledge and Skills Align with Strategic Work
Skills reporting views allow you to identify who within your organization has specific skills and at what proficiency. It also allows you to zoom out and identify top requested skills within your organization and identify potential organizational capability gaps.
Mapping Resource Utilization & Capacity To Strategic Work
Resource Capacity Planning and Utilization views also allow you to expose where different team members may be over-worked or under-engaged, which both helps to reallocate resources to optimize efficiency and also de-risks execution.
Matching People with the Right Capabilities to Strategic Work
These reporting views make it easy for business leaders to understand how their workforces align with the work to be done. They are also critical to understanding where project teams have knowledge, skill, and capacity gaps. To seamlessly fill those gaps, project and initiative owners can access the capabilities they need to execute, whether those capabilities are found within the company or through Catalant’s Expert Marketplace of nearly 70,000 independent consultants and more than 1,000 firms.
Getting from Strategy to Execution calls for a centralized SaaS platform.
Through years of developing Catalant’s SaaS platform and Expert Marketplace with our enterprise customers, we’ve learned that uniting the right people, processes, and technology is essential for effectively executing strategy.