In this episode of our Strategy & Leadership Podcast, we were joined by Carl Cox who is the CEO for Cascade Strategy North America. Originally an accountant and CFO, Carl started off as a client of Australian based Cascade Strategy. As he developed in his executive roles, he became deeply involved in strategy work and eventually opened Cascade’s US office.
Fostering alignment and generating buy-in is an important part of the strategic planning process that should be started early on. Although organizational and departmental leaders may be the ones in the strategic planning meeting, employees can and should be consulted prior to and after the session. Questionnaires, interviews, and face-to-face conversation are great ways to generate employee participation throughout the process.
High turnover is expensive – the time and money invested in staff who have left will need to be invested again for the training of new staff, and there is the additional cost of time and money spent on recruitment and hiring. Additionally, organizational culture and productivity can suffer if staff turnover is frequent. From a capital perspective (both financial and human), it is important for organizations to focus on employee retention as a part of their business strategy.
The issue could be that your action plans don't contain measurable goals, or that the strategies and tactics to achieve those goals are unclear themselves.
Have you ever had a challenge with measuring the success of your strategic plan or the performance of the individuals on your team?
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To effectively implement a strategic plan or carry out a complex project, a culture of accountability needs to be developed throughout the organization. To achieve success, everyone needs to understand the organization's strategy, their individual roles within the company, and the specific tasks or projects that they are responsible for. Accountability is not limited to staff - Managers and leaders must also follow through on their promises and remain committed to their performance and organizational goals.