|
Creating your 2021 strategy was an immense undertaking. Now that you've set your course, how can you ensure it's faithfully executed? Here's how to make your carefully laid plans a reality - and achieve your company's goals this year:
Strategic planning for 2021 offers a challenge like no other. Charting a course to business growth during a pandemic is a huge success - but while a strategic plan serves as a map, your team still needs sound leadership to navigate the territory with success.
Top Challenges in Implementing a Strategic Plan
Strategic plans for 2021 are bound to be full of uncertainties. Even the soundest plan, however, may face challenges in implementation. Here are a few of the main reasons why strategic plans fail, according to Forbes:
- The plan was created simply for the plan's sake (i.e., because that's what businesses do).
- The planning team failed to understand the business environment or to focus on results.
- Company leadership doesn't fully understand how a strategic plan can improve their enterprises.
- The people in charge of executing the plan were not involved in creating it.
- Key managers and leaders don't stand behind the execution of the plan.
- Neither managers nor workers are held accountable for meeting the plan's goals, removing their impetus for follow-through.
Don't let your plan fall victim to these traps. If your strategic plan is to be an effective management tool (and not merely a "nice idea"), you must have the people, resources, structure, and culture to support its success. Make sure that all these components are in place to turn your plan into reality.
People
Do you have the right people on board? To succeed, a strategic plan must be executed by individuals with the competencies and skills required to understand and carry out the plan. In the months following the planning process, expand your company's overall skill base by training existing employees, hiring new ones and/or accessing specialized expertise on a temporary or contract basis.
Pay particular attention to the effects of remote work on your teams as they seek to implement the strategic plan. Prioritize regular communication to ensure that everyone is on the same page - literally and figuratively.
Resources
Put your money where your mouth is. Ensure that your budget is aligned with annual goals and be prepared to assign adequate resources to accomplish each objective outlined in the plan.
Critical resources for carrying out a strategic plan may include money, labor hours, equipment and time. Technological resources, like devices, bandwidth, and software, have become increasingly important for businesses, especially during a pandemic in which digital spaces are a safer option than meeting in person.
Structure
A formal management structure with appropriate lines of authority is essential to the success of any strategic plan. To ensure the plan is properly implemented, designate a plan "champion." Assign your champion to roll out the plan, garner internal support, and coordinate regular strategy meetings to review progress.
A strong structure helps your plan and teams to handle a wide range of uncertainties, which are particularly inevitable during a pandemic. When everyone knows which role they play and where to turn for help, it's easier for them to address unexpected events and changing priorities.
Culture
Foster an environment that connects employees to your organization's mission, whether they work in person or remotely. Such an environment should seek to increase plan buy-in and encourage staff members to achieve company-wide goals.
To reinforce the importance of focusing on strategy and vision, reward success. Develop creative, positive consequences for achieving objectives and negative consequences if goals are missed. The rewards may be big or small, as long as they lift the strategy above the "day to day," so people make it a priority.
Additional Ideas to Ensure Successful Implementation
Go beyond your executive team. Nothing breeds commitment like involvement. Ensure your plan has a broad base of support by involving your company's high performers and thought leaders in every step of the process, from planning through execution.
Communicate your plan to all employees. Communication is vital in an era where employees may share a virtual space but not a physical one. Provide a plain-English version of your overall strategic vision (including your mission statement and key strategic priorities) and make it easily accessible online for staff. Supplement this broad overview with customized documentation for each department. This documentation should place particular emphasis on the objectives that are most relevant to each group's work.
The better your employees understand what the team is trying to achieve and why their daily efforts matter to that goal, the easier it is to help the team accomplish those objectives.
Align departmental goals with specific strategic objectives. As you roll out your plan, challenge departments to create annual, measurable goals supporting the company's strategic objectives. By participating in the goal-setting process, employees own their roles in the plan, boosting their understanding and commitment to the plan.
Set specific, real-world objectives. To make your plans a reality, include expected timing and personnel accountability for each tactical component of the strategic objective. Assign one individual to ensure each objective is reached and report to company management.
Revisit the plan regularly. 2021 promises to offer unprecedented uncertainties and change. Meet once or twice a month with those who are accountable for reaching strategic goals. Ask each person to provide a summary of their team's progress. As a team, discuss the reasons for any off-track goals and develop a plan to get the team back on track.
Final Thoughts
Creating a strategic plan is one project. Executing that plan is another. To bring your 2021 plan into reality despite looming global uncertainties, make sure that everyone in your organization - from front-line employees through senior management - understands it, buys into it, and is held accountable for making it a reality.
Need help implementing your 2021 business plans? A qualified staffing and recruiting partner can ensure you have timely, flexible access to talented people to:
- Take on repetitive or time-consuming tasks
- Fast-track new initiatives
- Free your staff to focus on high-priority projects
- Grow your core team
- Capitalize on emerging opportunities as the recovery continues
|
