As we enter into September, many organizations are now focused on two things:
- Revising strategy for 2025
- Preparing and wrapping up annual reviews over the next four months
Regardless of where you are in either of those two areas, I would encourage you to not rush through either process. While year-end tasks can become somewhat routine, script, and tiresome, there is value in the process if approached in the right manner.
With respect to thinking through a business strategy or revising a strategy for 2025, consider these ideas:
- Don't just fill out forms. Ask questions. What's my market, and where are the key opportunities in 2025? Who are my key competitors, and what are they doing that I need to be aware of going into 2025? What do I want my identity to be in the market, and what are the gaps to achieving that identity?
- Define Success. What is my real measure of success? How will I define the win for my team?
- Are people part of my strategy and plan? How can I build an ownership culture to be a competitive advantage in my market? How can I invest in people to be a differentiator compared to my competitors? There are very few opportunities to truly differentiate yourself today. People are one that still exist! What will you do with your team?
- The intersection of strategy and execution is where we reach potential! Are we doing right things (strategy)? Are we doing things right (execution)? Most organizations miss this point. They either focus too much on developing a great plan but can't/don't execute it, or they get so tied up in just running the business that they fail to have any real business plan/direction. Invest some time here. It will pay off!
The second major area that gets quite a bit of attention in the last portion of the year is the annual review process. For many, this process is an administrative burden that is drawn out over several months. Many view this aspect of management/leadership as a human resource task pushed to them. Forms must be filled out. Evaluations need to be assessed.
Let's take a step back! What if we built on that idea of people being a key aspect of our business strategy, and one that would be a differentiating factor in our success in 2025? Would we look at the process of developing people differently? Would we change the way we set goals and monitored progress? Sure we would. It would be key to our success and not an administrative burden.
Here are some thoughts on how to effectively engage, challenge, and develop your people as part of your strategy for success in 2025:
- Simplify the process. Goal setting, progress monitoring, and development need to be straightforward and easy to lead or it won't be effective. 3-5 goals, monthly feedback, minimal paperwork, a focus on communication, and everything aimed at improving (developing the person and improving the business).
- Collaborate and communicate. One-to-one sessions are a dialogue. Mutual agreement on what's important, what the focus will be, and how things are going are key for a successful goal setting and development plan. Goal setting and development go hand in hand. Don't push goals down. Talk about what matters most!
- Short term. Forget the annual goals for an individual. Work in 90 day blocks of time. Things change too fast to talk annual objectives for a person. Stay focused on what matters most now. Focus on inputs not outcomes. What do they need to be "doing" now to drive sustainable outcomes for the organization?
- Balanced coaching feedback is they key. Coaches invest in others to make them better, to elevate their performance, and to build stronger teams. If you are a leader, you are no longer an individual contributor. Your ability to build a team and bring out the best in everyone within that team is your job. Their performance is a reflection of your leadership. Own it! Goal setting and feedback is a great way to drive strategy and execution through an organization.
If you want people to be your plan to differentiate your organization in 2025, start now. Invest in strategy discussion on how to build around that element. Take a hard look at your performance review system, and make the necessary changes to move from an administrative burden to a highly engaging tool to drive results.
It's September - What will you do different to make 2025 better! Start now!
