At the end of the first semester, every leader in the organization begins to wonder whether the organization will meet its year-end objectives. As such, the leaders begin to see whether the business strategies work until the first half of the year. Then, they make a prediction for the next semester.
Mid-year pause is indeed the right time to see your progress. It allows you to evaluate the team, re-align the objectives, get focused, and make necessary adjustments to the existing business strategies. These will ensure your organization stays on the right track.
Business Strategies to Achieve Year-End Targets
Treve Cartwright notes three strategies business should take to make sure that you can achieve the year-end objectives on Forbes, as discussed below:
No More “Us vs Them”
Strategic planning should not be done as an exclusive process, which takes place behind a closed door. Oftentimes, the process is dominated by senior leaders within the organization. Of course, this should not be the case. Pure to-down planning will lead to frustration, in case that the company performance is not on the track. Therefore, make sure that the strategic planning is as inclusive as possible. The following tips may help you:
- It is the time to break the “Us vs Them” pattern
- Involve the employees in the process of plan creation as well as plan assessment
- Identify any necessary corrections in an inclusive way
- Refresh the employees’ knowledge about the company’s strategic plan
- Share the objectives to all employees and re-engage them in the process of achieving them.
A successful organization is a product of fully-engaged employees. They feel that they have important contribution for the company’s success. Therefore, make sure they know where the organization is, and what to do to achieve the rest of the objectives.
Drive Hard With Your Employees
Whatever your year-end objectives are, make sure that the employees feel the real ownership of them. This is one of business strategies to make ensure consistent and inclusive participation from the employees. In fact, many leaders keep driving hard but leaving their people behind. This is a simple formula for failure. Accordingly, ask the following questions to see whether your employees are there for you:
- Do they have strategies when they talk about the year-end objectives?
- Do they really know about your direction?
- Are they enthusiastic about the year-end objectives?
If you find that the answers to those questions are NO, then, make it your priority to find out the ways.
Abandon “Wait-and-See” Strategy
Ownership of the business strategis may start from the top levels. However, it cannot stop there. The employees should have it too. Therefore, make sure to drive hard with your employees, instead of without them. Evaluate the strategies with them and abandon things that do not work for you. Then, you can introduce a new strategy to keep everything on the track.
Mid-year pause is a strategic time to diagnose all factors that lead to success or failure of your business strategies. However, make sure to involve your people in the whole steps. This is the key to increasing participation and feeling of ownership.