As an employer, you know you can’t leave your success to chance. Effective strategic planning is essential, both for the short- and long-term, if you want to excel. By creating a three-year plan, you are covering today as well as the near-future, giving your company a roadmap that aligns with your goals. It can serve as a guide for decision-making, ensuring all decisions will move you forward.
If you are wondering how you can craft an effective three-year employer plan, here are some tips that can get you started.
Define Your Objectives
The first step you need to take when crafting a three-year strategic plan is to define your company’s goals. Begin by considering your organization’s primary mission and writing a solid overview of it.
Next, identify various objectives that align with that target. The idea is to consider the significant steps that exist between where you are today and where you want to be in three years. As you figure them out, strive to make them specific. When it comes to goal-setting and planning, ambiguity is the enemy, so define the details and quantify the goals whenever possible.
Then, if your primary objectives are broad, break them down into smaller milestones. Use the same process to define them as well. That way, you will have a clear roadmap and can use the steps to create a viable timeline.
Identify the Key KPIs
After you have a solid understanding of your objectives, you need to determine which KPIs are involved in your plan. By doing so, you’ll have metrics that you can monitor as you move forward, allowing you to gauge your progress towards your goals with greater ease.
Along with annual KPIs, decide with ones should be monitored more frequently. In some cases, a KPI should be checked on a monthly or quarterly basis, enabling you to make adjustments if things aren’t staying on target.
Schedule Regular Evaluations
While it may sound like a three-year employer plan is stagnate, it isn’t. Since business climates and priorities can change relatively quickly, you want to make sure that your roadmap is reevaluated regularly.
In some cases, a yearly check-in will be sufficient. However, taking a look twice a year or every quarter can be wise, especially if your organization is in a growth phase, experiences a dramatic, unexpected, change in demand, or is impacted by emerging technology.
Plus, with regular evaluations, you ensure that you review your progress regularly. Then, even if your core objectives remain the same, you are taking a moment to determine if you are on track, if your original timelines were realistic, or if slight modifications are necessary.
Ultimately, by following the tips above, you can craft a three-year employer plan that can increase the odds that your company will flourish in the coming years. If you’d like to learn more, the team at The Advance Group can help. Contact us to speak with one of our skilled staff members today and see how our strategic planning expertise can benefit you.