#10 – How To Avoid The Mistake You Are Making With Your 3 Year Plan

Strategy, strategic planning

The mistake you are making with your strategic plan

By Terry Thompson & Jason Kipps

Most CEOs and managers are familiar with the need to have a 3 to 5 year strategic plan.  What often gets missed in the strategic plan is the 3 to 5 year personnel organization plan; particularly at a management level.  The failure to include the personnel component will  seriously compromise the effectiveness of the strategic plan. In fact, skipping that component is probably the number one factor that causes plans to fail.

How does one make an effective approach to this part of the plan?

  1. Take no more than a three year look ahead. I have found that there is little to gain from planning beyond 3 years given the uncertainties beyond that time frame. In todays high speed economy the only certainty for the future is certain uncertainty and inevitable change.
  2. Look at your three year growth plans and map out the management team, both senior and middle management, that you will need.
  3. Outline the basic job descriptions for each management position and the profiles of the individuals needed.
  4. Determine how you will source the individuals needed and the benchmarks and lead time required to bring on the right person for the right roles.  This  involves:
    1. Looking first at your existing personnel to identify hidden potential  and determine who might fill these roles (current and future) and what is necessary for them to become self-sufficient in the role (e.g. training, other personal development, experience, etc). This includes assessing internal candidates and providing them with an objective analysis of their strengths and growth opportunities.   Providing feedback to your emerging leaders allows them take responsibility for their own professional development with your organization.
    2. Determining which positions (current and future) will need to be filled from the outside (i.e. hiring people who are not presently with your company).
    3. Determining how to source outside people (i.e. doing it entirely with internal resources or outsourcing through a recruitment firm).

Regarding sourcing outside people: Our recommendation is to use recruiting firms that specialize in recruiting for the position that we are looking to fill. Your internal resources may be better equipped to handle recruiting .  You should use your own judgement.  However, do not be penny-wise but pound foolish. Some companies choose to use internal resources, not because they are superior to external, but simply as a way of saving some money upfront. That will most likely turn out to be a very costly mistake.

If you choose to go the external route, there are certain steps you should take in order to choose the correct recruitment firm. We will describe these steps in our next article.

Should you have any questions or feedback regarding the content of this article please email us at Terry Thompson at tthompson15@verizon.net  or  Jason Kipps at JasonKipps@gmail.com  ©

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