A “people strategy” is a document that represents a number of key company decisions about its relationship with the employees. It forces the company to pre-think a wide range of decisions relating to the people and codifies these decisions into a brief document.
Here is a brief (two pages) guide to developing a good people strategy:
I consider a good people strategy to be one of the first things a growing company should do, long before developing policy manuals, and other typical HR busy work. It’s a good way to set the direction of your company. And I recommend that people review and/or update it every year. Right before or after they do their People Audit (more information on that here).