Strategic Planning Part 3: Staff Assessment

Far West Capital

To close out our 3-part series on strategic planning for 2014, we suggest taking a good, hard look at your staff. We’ve showed you how to create an overall plan and how to prepare a budget for the new year, so now is the time to evaluate your team and address any issues you faced in 2013. This will ensure that you start the new year off fresh and with a bang.

There are many topics to consider during this stage, on top of a standard employee performance evaluation. What’s important is really assessing each individual – his or her personality type, strengths and weaknesses, etc. You may find that someone could be a better fit in a different role, or that this person isn’t contributing to the future success of your company. In this case, and with the right budget, now is the best time to fire, hire or promote. Think through which levels of experience you can afford (administrative or directive level), and how that will prepare you for growth in the coming year. This kind of consideration must happen now! Do not wait until you realize you need it – hiring can be quite the lengthy process.

If your budget doesn’t allow for these types of drastic changes, nip any and all communication issues in the bud now while you have time to correct said faults before the new year. By explicitly addressing issues, whether they be performance-related or communication-related, you and your employee can both come up with a plan to improve said problems. This process will help develop your team into an even better one that can act cohesively and set your company up for success.

Make sure that as you assess your team members, you give them a chance to assess and give feedback as well. Providing an open-forum where everyone can give input on the company culture, standards, procedures, etc., can be useful for setting your company’s future course.

As we close out our strategic planning series, you can see that the common denominator in each topic is starting early and road mapping a plan. We want you to be well prepared for and efficient and productive 2014, so that you can truly unleash your potential for growth in the new year! Make it a great year or not, the choice is yours.

Be sure to read our full 3 part series on strategic planning:

Part 1: Are You Ready for 2014?

Part 2: How to Prepare Your Budget

Part 3: Evaluate and Assess Your Staff

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