- May 11, 2018
- Posted by: Mary Ellen Georgas-Tellefesn
- Category: Business Plans, Strategy
The success of a strategic plan depends on its ultimate execution. Yet those who will be implementing the plan on a day-to-day basis – the employees of the bank – are often the last to hear about the details of the plan, having to rely on the budget process for insights into longer-term objectives. As you complete your strategic plan this year, consider not just how you can engage the Board of Directors in the process, but also how you can engage your employees.
Capital Performance Group has identified four best practices for employee engagement in the strategic planning process:
- Provide detailed and honest communications to employees about the strategic vision and its challenges.
- Include the metrics that will define success in company-wide communications.
- Set up a process to ensure that management is aware of and responsive to questions and new ideas about the strategy.
- View strategic planning and execution as a process, not an event.