Top 3 Reasons for Strategic Planning

What if you took the time to step back and take a snapshot of 3 years into the future and think about where you are now and where you would like to be then?

Most business studies show that CEO’s or owners of companies with less than 500 employees focus 90% of their time working ” in the business” vs. “on the business.” Many times small and middle market companies  are focused on the crisis of the week. This doesn’t give time to develop a strategic plan for company growth.

Strategic planning is something that large corporation CEO’s do annually, but for smaller businesses it may just be wishful thinking. What if you brought together your key leaders, outside influencers or business advisors and brainstormed what you can do to transform your business? Examine where improvements can be made whether it’s operationally, structurally, sales and marketing strategy, technology, or people wise to improve your business. Think about what needs to change in your business next month, next quarter or next year to make changes that could impact your business for the rest of the decade. Taking time to do strategic planning gives you a road map of the steps you need to take today to reach your goals of tomorrow.

Top 3 Reasons to Do Strategic Planning:

  1. To have a clear direction of where you want your business to be in 3-5 years
  2. It helps get the whole team working in the same direction
  3. It provides a foundation which can be used to measure success
In the most recent episode of my podcast HR Problem Solver, I go in depth on the topic of Strategic Planning with my guest Tom Bronson of Mastery Partners. You can listen/watch here to learn how to conduct a productive strategic planning session for your company.

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Small and medium-sized businesses may not have the time or expertise to implement the necessary people strategies for business success. The ideas above can be easily implemented by you to help improve the performance of your employees which leads to increased employee engagement and increasing the bottom line.

We are here to help you with the people side of your business: employee engagement, retention programs, performance management, vision, and strategic plans, leadership development, selection & onboarding, compensations programs, organizational design, employee handbooks, core values, and all things HR-related.