A table full of food means little without people crowded around it ready to partake in the feast. Maybe the table isn’t even full of food if those assigned to bring the side dishes or dessert never arrive. For dinner to be a success, you need others to show up.
Your bank and credit union strategic planning implementation is a lot like that dinner. You need people to bring initiatives to fruition. Specifically, there are four groups to involve in executing your plans:
1. The Board
Your Board must set the high-level vision for your strategy without getting lost in the weeds. Preferably, they are both aligned with each other and with staff leadership. Misalignment or one voice dominating conversation may upend your plan at the outset.
But even beyond plan creation, you need the Board’s buy-in each step of the way. That doesn’t mean they are digging their fingers into the tactical details. It just means the Board is ready to approve each next big phase and doesn’t turn on your strategy halfway through the year.
2. The Senior Leaders
Your senior leaders must be a bridge between the Board’s high-level strategic focuses and how to tactically execute those focuses. In the case of credit unions, board members are volunteers, so senior leaders (often industry veterans) may also serve in advisory roles. Besides taking part in the larger strategic discussions, senior leaders will take the focuses and distill them into actionable objectives for the team.
3. The Wider Staff
Your plan isn’t only meant for the boardroom! It’s meant for the breakroom too!
And honestly, this is where many strategic implementations fall flat. Leadership creates a fantastic plan but never clearly explains it to the team. Your organization’s strategy becomes abstract at best, and staff members don’t see what role they play in it.
But everyone has a role to play in plan execution, from the teller to the CEO. Those roles look different, sure, but assigning everyone a role makes the plan relevant to them. Owned by them in some small way. As Dale Carnegie would say, “People support what they help create.”
How specifically should you define roles in the plan? There are plenty of ways. One method would be the “everybody has a number” method from Traction. For a theoretical consumer service initiative, those numbers might be:
- Tellers write three thank you notes a day to in-branch visitors
- The lending department needs a five click online loan application
- Marketing needs four social posts a month highlighting service benefits
4. The Consumers
Ok…your consumers aren’t executing your plan. However, they’re a core part of it. Losing sight of what consumers want from you or how the consumer market is changing will capsize your strategy. And it’s scarily easy to think you’re better positioned than you are.
So, keep your ear to the ground. Understand what current consumers need and what prospective consumers want. Don’t chase shiny objects or rabbits down money-sucking holes.
Inviting everyone to the table often means having a great bank and credit union strategic planning session with consistent follow up. Book a free consultation today to talk about planning for 2026 and the follow-up strategic sprints process.
