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Strategic planning and human resources often operate in silos, hindering organizational success. This study creates a database to link organizational practices with financial performance for better insights.

Area of Science:

Business Administration
Organizational Behavior
Human Resource Management

Background:

Strategic planning and human resource management have historically been separate disciplines.
This separation leads to a lack of information for strategic planners and limited influence for HR managers on strategic direction.

Purpose of the Study:

To develop a multicompany database linking organizational characteristics, HR practices, and strategic planning with financial performance.
To enable intercompany comparisons and identify practices driving improved financial outcomes.

Main Methods:

Collaboration between the University of Michigan, Hay Associates, and The Strategic Planning Institute.
Creation of a comprehensive database integrating diverse organizational data.

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Main Results:

The database facilitates comparisons of organizational variables across companies.
Identification of specific practices correlating with enhanced financial performance.

Conclusions:

Integrating strategic planning and HR practices is crucial for organizational success.
Data-driven insights from the database can guide improvements in financial performance.