By Chantal Walley, The CONFIDANT Group
Whether you’re aiming for bigger profits or enhanced service delivery, here’s how to ensure the results you are looking for.
Before you roll out next year’s strategic plan, ask yourself this one vital question: Can your team actually execute it? Here’s how to find out:
- Identify the critical 15% of positions, not people, which have the greatest impact on the execution of the plan.
- Establish the special talents required to deliver the outputs for the plan to be executed.
- Survey the talents of the people currently in those positions to determine ability and job fit. Prospects for success in 2015 are good if the ratio of talent available to talent required exceeds 80%.
- If the ratio is less than 80% then the first priority has been established – fix the ratio. Capacity deficit is the biggest inhibitor when it comes to executing planned actions. Use performance data to support any remedial decisions that are made.
- Begin the search for the talent required within the organisation – it’s more cost-effective than looking outside. Here your strategy should focus on improving the talent available to talent required ratio in the rest of the organisation. Be aware that senior level corrections yield greater benefits. This step should be completed within four weeks to ensure that you hit the ground running as soon as possible.
If the tools and competencies are not available, engage a service provider to help you get on track. Remember, the solution must be cost-effective and sustainable.