“Groundhog Day” is arguably one of the most well-known films of all time. In the movie, Bill Murray’s character (Phil) relives Groundhog Day over and over and over again. The plot revolves around Phil discovering how to escape the time loop and grow as a person. And maybe your credit union strategic planning feels like it’s stuck in a time loop too. But instead of a day-long loop, it’s a year-long loop.
You come to the current year’s session and discuss the issues, only to think: “Didn’t we talk about this last year?” Or perhaps you review the same two-to-three yearly numbers without forming proactive plans on how to make those different next year.
It’s time to escape your credit union strategic planning time loop and uncover real organizational growth.
Paralyzing Projects
Strategic planning is human, not robotic. And humans get discouraged by long, unrealistic lists of projects that will never get done alongside the day-to-day work. Examine if your time loop originates from lengthy project lists that are too overwhelming for anyone to tackle. It often feels productive to emerge from a session with ten major projects, but it actually means:
- People don’t know where to start.
- People may prioritize the wrong projects.
- People “eat around the edges” on several projects rather than completing them.
Choose three-to-five core projects your team will focus on for the year. Rank their priority. And finish them. Staff members are more likely to make progress on projects where clarity and focus are present.
Moving Goalposts
Once again: strategic planning is human, not robotic. And humans get discouraged when priorities shift or success metrics move. See if your time loop starts when the plan becomes too fluid for people to bother putting work into it. What does that mean?
- The most important projects change halfway through the year.
- KPIs measuring success become larger when met (making achievement an illusion).
- New major projects magically appear after the team completes planned projects.
Without being overly legalistic, stick to your plan. Keep your priorities consistent. Celebrate successes when you meet your KPIs. Place value on completion, and it will motivate people to complete future projects too.
Tactical Hamster Wheels
One more time: strategic planning is human, not robotic. And humans get distracted from accomplishing strategic goals. Analyze if your time loop emerges from the tactical hamster wheel, where folks put out daily fires while never addressing the wild strategic inferno blazing in the distance. This problem looks like:
- A strategic plan that’s never discussed after the session.
- The same, unresolved issues appearing every session.
- No tactical action plan to translate strategies into realities.
Your strategic plan is not optional. Tell your team: “We won’t be here next year.” Draw a line in the sand. And address very real bandwidth problems by helping your team prioritize. What tactical issues can you set aside for a few months to make strategic headway? Your strategic goals are a priority, and it’s sometimes ok to sacrifice daily grind for yearly goals.
Escape your credit union strategic planning time loop right from the session. Book a free consultation with On The Mark Strategies to discuss a session built around focus and future growth.
