The Role and Importance of Strategic Planning

on "October 01, 2019 10:53 am"

Many credit union leaders would like to have more effective planning sessions and gain a more effective strategic plan. Nothing is as disappointing for CEOs and board members alike as coming off a lengthy planning session with no tangible results.

For board members to offer proper guidance they need information and metrics, which they often do not receive. For CEOs tasked with delivering on the strategic plan, they need a robust vision and direction from the board.     

What are credit union leaders concerned about?

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  • Strategic planning should be kept simple and focused on collaboration between staff and the board
  • Risk management, board and staff culture, investing in human capital and improving member experience
  • An organizational tool with real-time reporting and presentation-building capability  

What credit unions should ask:

  • Is the planning process unorganized or lacking in tangible results?
  • Is your strategic plan too complicated or buried under day-to-day tasks?
  • Could your strategic plan use more accountability?

How does your strategic plan adapt to change?

  • What tools are you utilizing to draft and execute on your strategic plan?

Keeping track of a complex and evolving strategic plan on word processor documents is not enough. Software that helps a credit union’s staff and board visualize the strategic plan can help define roles and keep everyone on track, allow updates and changes, monitor progress and ensure accountability.

The strategic planning process outlines the direction of an organization, so it makes sense to give the process some weight and consideration. However, planners will find that they get out of it what they are willing to put in: an effective strategic plan born from effort and the right tools.

Planning Pro is an all-in-one tool that handles all your strategic board, management, and staff planning in an automated process. It even automatically generates a presentation from the data credit unions input Need to survey employees along the way? No problem, that capability is built-in, as are other key tools, like accountability tracking and progress reports. Better yet, Planning Pro helps credit unions see that their goals and achievements are on par with peers using comparative data from call reports.

Learn more about Planning Pro by joining our League webinar: October 29th or 30th, 11:00a.m. HST.