VID-20240722-WA0002
Transcript
00:00Hi everyone, it's Erica Olson with OnStrategy.
00:15Today we're talking about how to build actual action plans.
00:20And this is such an important topic because by the time we get down to action planning,
00:24oftentimes we're a little fatigued with our strategic planning process, let's be honest.
00:30Action planning is so important because this is really where the action happens,
00:33where our plans really get implemented.
00:35So action plans answer the question, how will we achieve our goals?
00:40So I'm going to give you a walkthrough of how to build a great action plan and some
00:46of the components to what you might need to be thinking about.
00:49All right, so let's jump in.
00:51So first things first, what are we building an action plan for?
00:55So let's agree in this case, we're building it for an initiative.
00:59So we've got our big strategic goals, we've got our annual objectives.
01:03So where are we going?
01:05What are we accomplishing this year?
01:07And how will we achieve our goals?
01:11That's what our initiatives are, right?
01:13In this case, I'm going to use an example of building an initiative for succession planning.
01:18Everybody's doing succession planning these days, it's a big topic.
01:20So let's agree that our initiative that we're building an action plan for is to deploy succession
01:28plans across the organization.
01:30Awesome.
01:32Let's think about our action plan in three broad buckets.
01:35Bucket one is what must we achieve?
01:37Bucket two is what do we need to be successful in implementing?
01:41And bucket three is how will we accomplish our initiative?
01:46First things first, what problem are we solving?
01:48In this case, we're solving a knowledge management or a knowledge transfer problem.
01:53We don't want our good knowledge walking out the door when everybody retires.
01:57I love this question.
01:59We know this initiative will be completed when, what?
02:04When all of our first level and second level people in our organization have succession
02:10plans.
02:11That's what completion looks like.
02:13So all one and two have plans, great.
02:19And what's the scope?
02:20What's in scope and what's out of scope?
02:22Also super important.
02:23So I sort of just mentioned it here, but what's in scope is first level and second level of
02:28your organization.
02:29Everything beyond that is out of scope for this initiative, super.
02:34Moving on, what do we need to be successful?
02:37So this is really the, do we have what we need, money, and people to successfully implement
02:42this initiative?
02:43Let's see.
02:44Do we need additional budget?
02:45I'm going to say no, we don't need additional budget.
02:48We know how to do this.
02:49Do we have the capabilities?
02:51Our HR team has the capabilities.
02:52Yep, they sure do.
02:55What dependencies do we have?
02:56Well, we have dependencies on the first layer.
03:00Let's just say they're VPs.
03:01We have dependencies on the VPs coordinating, cooperating with us to build succession plans.
03:07And what might some roadblocks be?
03:09Really great question, right?
03:10So roadblocks might be time of those VPs and honestly, willingness.
03:17So let's agree that that maybe is not a top priority.
03:20That might be a roadblock to completing the initiative.
03:24Super.
03:25So now we've thought about it a little bit more deeply.
03:27Let's move into the actual action item development.
03:31How will we accomplish the succession plan?
03:33There's some ideas over here.
03:35This is where folks get a little stuck.
03:37So let's get unstuck, just have some examples here.
03:42I like to start this by thinking first about what are the major buckets of work and then
03:48deciding when we're going to do them.
03:49When we try to do that at the same time, we get a little muddled up.
03:52So I just would actually literally on sticky notes say, well, what are the major buckets
03:56of work of building succession plans for the first and second level of the organization?
04:01Well, we need to create a standard.
04:03So probably need a standard template, standard process, standard approach.
04:07We need to identify who the high potentials are.
04:11That's what HPOs are.
04:12Who are the high potentials?
04:13So who are we actually building action plans for?
04:16We need to roll it out.
04:17That's a bucket of work, right?
04:19The rollout, communicating to the first and second level what we're doing, what tools
04:22they have, how to do it, what the process is, when it's due.
04:27And then people actually need to fill the action plans out.
04:29So that would be maybe the fourth bucket of work.
04:33Once I have the buckets of work identified, I would literally decide when am I going to
04:37complete them.
04:38So let's agree maybe in quarter one, we're going to actually build the standard and we're
04:43going to identify who we're building succession plans for.
04:46In quarter two, we're going to get everybody trained on what we're doing and we're going
04:50to ask for all succession plans to be done by quarter three.
04:55And just as a comment, great action items should start with a verb and be clear about
05:00what we're delivering.
05:01So we are creating a standard template for succession planning.
05:05Awesome.
05:06That's just an example.
05:08So with that, that's a much more robust way to think about action planning to make sure
05:13that we've thought about what are we really doing?
05:15What's in and out of scope?
05:17Do we really have what we need to be successful in executing this initiative?
05:22And then really thinking clearly about when are we doing what?
05:26So what do we need to do?
05:27Just what are the buckets of work and when are we going to do them?
05:30And then of course we would assign owners to each one of these based on whomever's going
05:34to get it done.
05:36So with that, that's how you build actual action plans that will help bring your plan
05:42to life.
05:43Thank you for tuning in.
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05:50Happy strategizing.