Best Practices for Managing People in Level 7 Extended Diploma in Strategic Management

Managing people effectively is a crucial skill for any strategic manager. In the Level 7 Extended Diploma in Strategic Management, understanding the best practices for managing people can make a significant difference in the success of an organization. Here are some important statistics and data related to best practices for managing people in this diploma program:

Statistic	Data
Employee Engagement	Engaged employees are 59% less likely to look for a job with a different organization
Communication	Companies with effective communication practices are 4.5 times more likely to retain employees
Training and Development	Organizations that invest in employee training have 24% higher profit margins
Performance Management	Employees who receive regular feedback are 12% more productive

These statistics highlight the importance of implementing best practices for managing people in the Level 7 Extended Diploma in Strategic Management. By focusing on employee engagement, communication, training and development, and performance management, strategic managers can create a positive and productive work environment that drives organizational success.

Conclusion

Effective management of people is a key component of strategic management. By understanding and implementing best practices for managing people in the Level 7 Extended Diploma in Strategic Management, managers can enhance employee engagement, improve communication, foster employee development, and drive performance. These practices not only benefit the employees but also contribute to the overall success of the organization.