Strategic Planning: An Action Plan for Long-Term Success

A lot of businesses have a talented group of people and a competitive business offering. They may even have the necessary resources to build a great company. What could possibly be missing?

The truth is, even the most promising organizations can waste some of their potential without a long-term strategy in place. That’s why strategic planning is so key for HR leaders and other decision-makers in your organization. 

These strategic plans not only support the success of the business but of the workforce as well. A stable organization with direction and structure creates a healthy work environment for employees. These tips can help leaders not only with strategic planning but ultimately strengthen your organizational development, too.

What Is Strategic Planning?

Strategic planning is an organization’s method for defining its long-term goals and business operation priorities. 

Executives and HR leaders are largely responsible for an organization's current position — both internally and externally. Consider: Is the organization growing and headed in the right direction? Is the company being as efficient as possible? How does the organization measure up to competitors or the economy? Understanding the company’s environment and setting clear objectives is all part of strategic planning. HR and the c-suite all have a heavy influence on the answer to these questions. 

Plus, businesses and companies are constantly being asked to adapt to rapid change and growth, which goes more smoothly with a plan in place. With technology advancements and unpredictable market shifts, strategic planning is one of the best ways to move confidently into the future. From overhauling outdated processes and seizing new opportunities to mitigating risks with contingency plans, your strategy can be your lifeline.

Of course, strategic planning is not a one-time event but rather an ongoing process that requires periodic review and updates. Generally speaking, you can use these guidelines:

• Long-term vision: Strategic planning typically covers a time horizon of three to five years or even longer. It's wise to align the planning cycle with the organization's long-term vision and goals.
• Regular review: Organizations can conduct a comprehensive review of their strategic plan at least annually. This review helps keep the plan relevant in light of changing market conditions and internal developments.
• Opportunistic reviews: In rapidly changing industries, organizations may conduct more frequent reviews, perhaps every six months. This is often better to accurately assess progress and make important adjustments when needed.
• Trigger events: Significant events such as mergers, acquisitions, regulatory changes, or technological advancements may prompt organizations to revisit their strategic plan outside of the regular schedule.

Strategic Planning vs Strategic Plan Management

If strategic planning is what gives organizations a direction, strategic plan management is how that direction is achieved. It is  the ongoing process of developing, implementing, and monitoring an organization's strategy. HR and other leaders help manage your strategy, especially by understanding how it ties into HR processes and who owns what responsibilities.

Managing your employees and strategic plan means translating high-level strategic goals into actions with realistic timelines. This roadmapping process outlines the steps, resources, and key milestones needed to realize the strategic objectives. Leaders can help set the tone and champion its use in the organization, especially by supporting a work culture that values and supports the strategic plan.

Benefits of Strategic Planning and Management

Taking a focused approach to your planning empowers you to seize promising opportunities and position your company for long-term success. Here’s how!

Long-Term Business Perks

Regular and thoughtful strategic planning provides the roadmap for long-lasting success. There are benefits like:

• Sustainable growth: Strategic planning helps organizations identify and capitalize on growth opportunities, leading to consistent success over time.
• Improved decision-making: With a clear strategic plan, businesses can make decisions they know are aligned with long-term objectives. This means less reactive choices and more intentional ones.
• Enhanced adaptability: Strategic planning helps organizations to anticipate and respond to market changes, too. This enhances their ability to adapt and thrive in dynamic environments.

Organization and People Successes

Aside from organizational growth and business operations, strategic planning also serves the organizational development process and the people affected by the work culture. These benefits can look like:

• Improving productivity: When employees understand how their roles contribute to the larger goals, they become more motivated and focused. This clarity helps reduce inefficiencies and distractions. As a result, workplace productivity increases because  efforts are channeled toward the right priorities.
• Cross-organization alignment: Strategic planning also helps departments and teams work together better when they are united under a common strategic objective. Silos are broken down as communication and collaboration improve, leading to a cohesive effort towards shared goals.

The Role of Employee Wellbeing in Strategic Planning

Though often overlooked, employee wellbeing is a critical part of your company’s overall strategy. After all, employee wellness seriously impacts an organization's performance. 

For example, did you know that 98% of HR leaders say their wellbeing program reduces turnover? Healthy workforces that can reduce things like their turnover and absenteeism often see an increase in efficiency and productivity, too. Plus, employees who feel valued and supported by their organization tend to exhibit higher levels of innovation and commitment, which also boosts performance.

When holistic wellness becomes a part of strategic goals, it sends a powerful message about the organization's commitment to its workforce. This often looks like HR setting specific targets related to employee wellbeing, like initiatives for work-life wellness and professional development. 

For example, you can:

• Create a well-rounded wellness program: Your initiatives can address physical, mental, and emotional wellbeing. Some organizations offer counseling, fitness programs, and even stress management workshops. It’s important to make these programs accessible to all employees, too, which you can accomplish with flexible work arrangements like work-from-home options.
• Foster a supportive culture: You can also build an environment that encourages open communication and inclusivity, where employees feel comfortable sharing their needs and concerns. Encourage leaders to model and promote healthy work habits to show the company’s commitment to wellbeing from the top down.
• Introduce feedback mechanisms: Hearing what the employees have to say can be a powerful resource, too. Consider gathering input from employees regarding their wellbeing needs and experiences through surveys or focus groups. You can then use this feedback to refine wellness initiatives — and ultimately hone your strategic plan.
• Continuous learning and growth opportunities: Strategic planning can also include professional development resources, like mentorship opportunities and skill development workshops. This gives employees options for pursuing their educational goals and working on their careers within your organization.

By including these objectives alongside traditional business metrics, organizations acknowledge that employee wellbeing is a pillar for long-term success.

Strategic Management Teams

Strategic Management Teams (SMTs) are independent groups within an organization responsible for developing, implementing, and monitoring strategies. Organizational challenges may come up due to factors like rapidly changing market landscapes or unforeseen disruptions — or some companies just need better alignment across various departments. 

These high-performing teams consist of seasoned professionals who specialize in strategic planning and execution. They bring a strong understanding of the organization's goals and their competitive environment. SMTs often spearhead sharing the organization’s strategic vision, too. They make sure it’s well-defined, regularly updated, and effectively communicated throughout the organization. 

They also oversee and implement strategic initiatives, followed by monitoring progress and making real-time adjustments as needed. Having a dedicated team is one of the best ways to keep everyone on the same page and has the resources to be successful.

The Five Steps in the Strategic Planning Process

Even though a long-term strategy for your organization is a big task, these five steps can help you break it down into a manageable game plan.

Step 1: Assess Your Current Position

First, take an honest look at your organization’s current characteristics, like its functions, operations, priorities, and values. Where are you now and where would you like to be? Use these tips and tools to complete this step:

• Gathering stakeholder insights: This involves seeking input from key stakeholders, both internal and external, to gain more insights on the organization's challenges and opportunities.
• Conducting a SWOT analysis: A SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) assesses internal strengths and weaknesses along with external opportunities and threats.
• Identifying strategic issues: Pinpointing critical challenges and potential roadblocks helps set the stage for addressing them strategically within the planning process.

Step 2: Set Objectives

Next, figure out where you want to be. After all of your efforts and implementation, what will success look like? You can start with these topics:

• Aligning with mission and vision: Objectives should coordinate with the organization's overarching mission and vision, meaning every strategic move supports the company’s ultimate purpose.
• Prioritizing impactful goals: One of the best ways to evaluate objectives is by looking at their direct impacts on the direction of the organization, the workforce, and the bottom line.
• Measuring objectives for success: It’s also smart to use metrics or other measurable means to gauge the success of each objective. This helps with clear tracking and objective evaluations.

Step 3: Create the Strategic Plan

Then comes the bulk of strategic planning — actually visualizing and creating the plan, including the data that drives your objectives and decisions. These are some of the most important points to consider:

• Developing tactics and timeline: Specific responsibilities and timelines help you translate high-level objectives into actionable steps.
• Utilizing strategy mapping: Strategy maps display the cause-and-effect relationships between objectives, showcasing how they contribute to the overall strategy.
• Making strategic trade-offs: This is where leaders acknowledge that choices must be prioritized due to limited resources and make decisions based on the strategy.
• Prioritizing employee wellbeing: Including wellness programs and policies can help you better support mental wellness and physical health, boosting worker productivity and job satisfaction.

Step 4: Implement and Manage the Plan

Once you have an air-tight plan in place, it’s time to act on that plan and follow through on your deadlines and changes. Here are some tips to successfully implement:

• Communicating across the organization: Transparent communication helps all stakeholders and employees understand the strategic plan and their roles in its execution. For example, one of the main roles of HR may be to track certain performance metrics.
• Establishing accountability measures: You can assign specific tasks and responsibilities to team members. This helps ensure that everyone knows what is expected of them and tracks progress to keep the plan on course.
• Providing ongoing training and support: Equip your team with the necessary skills and knowledge through continuous employee training and resources. You can make them not only effective at their tasks but more adaptive as the plan evolves, too.

Step 5: Review and Revise the Plan

No plan is perfect from the get-go — it makes more sense to plan for adjustments and adopt a flexible attitude during these adjustment periods. To effectively review and revise your plan, consider:

• Quarterly progress evaluation: Regular quarterly assessments provide insights into the plan's performance and the organization's progress toward its objectives.
• Annual reevaluation and adaptation: Once a year, it can be useful to conduct an eval that’s more in-depth than your quarterly review. This has the potential to  lead potential revisions and adaptations based on the organization's evolving context.
• Tracking progress with balanced scorecards: Balanced scorecards offer a holistic view of the organization's performance, including financial, customer, and employee development perspectives.

By following these five steps and creating a strategic planning template for your organization, you can steer your company towards success and achieve your goals.

Strategic Planning Template for HR Leaders

Effective strategic planning is more than just a roadmap—it's a dynamic process that guides your organization through change, growth, and unexpected challenges. As highlighted earlier, a strong strategic plan aligns your business goals with the needs of your workforce, ensuring both organizational success and employee wellbeing. To help you get started, we've developed a comprehensive strategic planning template designed specifically for HR leaders and executives.

This template walks you through each critical phase of the strategic planning process, from assessing your current position to setting measurable goals and implementing your strategy. It also emphasizes the importance of continuous review and adaptation, allowing your organization to stay agile and resilient. By integrating key elements such as employee wellness programs and clear communication strategies, this template ensures your strategic plan supports long-term success while fostering a positive, productive work environment.

1. Current Position Assessment

Objective: Identify where your organization currently stands, including its strengths, weaknesses, opportunities, and threats (SWOT analysis).

Action Steps:

• Gather Stakeholder Insights: Engage internal and external stakeholders to understand current challenges and opportunities.
• Conduct a SWOT Analysis: Document your organization’s strengths, weaknesses, opportunities, and threats.
• Identify Strategic Issues: Highlight critical challenges and opportunities to be addressed in the plan.

Tools & Resources:

• Survey tools for stakeholder feedback
• SWOT analysis frameworks
• Internal performance data

2. Goal Setting and Objective Development

Objective: Define clear, measurable, and time-bound goals aligned with your organization's mission and vision.

Action Steps:

• Align Goals with Mission & Vision: Ensure objectives support long-term strategic goals.
• Prioritize Impactful Goals: Focus on goals that drive significant change or support business sustainability.
• Establish Success Metrics: Use KPIs to measure success and track progress over time.

Tools & Resources:

• SMART goals framework
• Balanced scorecards for metric tracking
• Feedback loops for continuous input

3. Strategy Creation

Objective: Develop a comprehensive plan that outlines how your organization will achieve its strategic goals.

Action Steps:

• Develop Tactics & Timelines: Break down goals into actionable tasks, assign responsibilities, and set deadlines.
• Create a Strategy Map: Illustrate cause-and-effect relationships between different strategic objectives.
• Plan for Resource Allocation: Ensure the necessary resources (time, budget, personnel) are available for each initiative.

Tools & Resources:

• Gantt charts or project management software (e.g., Asana, Trello)
• Strategy mapping tools
• Budget and resource planning templates

4. Implementation & Management

Objective: Execute the strategic plan and manage ongoing operations to stay on course.

Action Steps:

• Communicate Across the Organization: Ensure transparency and clarity about roles and objectives.
• Establish Accountability Measures: Assign clear ownership for each task and set up regular check-ins.
• Provide Training & Support: Equip employees with the skills and knowledge needed to achieve strategic goals. Consider upskill workshops as part of training.

Tools & Resources:

• Internal communication platforms (e.g., Slack, Microsoft Teams)
• Performance tracking software
• Training resources (e.g., webinars, workshops on wellness, productivity)

5. Review & Revise

Objective: Monitor progress, review outcomes, and adapt the plan as necessary to stay aligned with changing circumstances.

Action Steps:

• Regular Progress Reviews: Conduct quarterly evaluations to ensure milestones are met.
• Annual Strategic Reevaluation: Reassess the strategic plan annually to incorporate new trends or organizational changes.
• Adapt Based on Feedback: Use employee feedback, market changes, and internal performance data to refine the strategy.

Tools & Resources:

• Balanced scorecard for progress tracking
• Feedback collection tools (e.g., surveys, focus groups)

Example Strategic Plan: Integration of Wellbeing Programs

Problem: High turnover and low productivity linked to stress and burnout. 

Solution: Develop a holistic wellness program including mental wellness resources, flexible working hours, and regular wellbeing check-ins.

Key Actions:

1. Introduce Subscriptions for Meditation Apps
   • Tools & Resources: Partner with a meditation app provider, such as Headspace, to offer company-wide subscriptions, or a holistic wellness platform like Wellhub that supports emotional and physical wellbeing.
   • Tracking: Monitor app usage statistics and gather feedback through quarterly employee surveys to assess effectiveness.
2. Provide Access to Physical Fitness Programs
   • Tools & Resources: Collaborate with local gyms or digital fitness platforms,  like Wellhub, to offer discounted memberships or virtual fitness classes.
   • Tracking: Track participation rates and collect data on physical activity engagement through fitness program analytics and HR software.
3. Create Management Training Programs for People Leaders to Facilitate Flexible Working Hours
   • Tools & Resources: Develop training modules covering topics like work-life wellness, stress management, and flexible scheduling. Use platforms such as LinkedIn Learning or internal LMS (Learning Management System) tools for delivering training.
   • Tracking: Evaluate the impact of training by measuring management feedback, employee satisfaction surveys, and monitoring changes in absenteeism or productivity.

Key Metrics:

• Reduction in Turnover Rates by 15% in One Year
  • Tracking Tools: Use HR analytics software (e.g., BambooHR, Workday) to monitor turnover trends and compare them against baseline data before the implementation of the wellness program.
  • Additional Data Points: Analyze exit interviews to identify if wellbeing initiatives influenced retention.
• Increase in Employee Satisfaction Scores by 20%
  • Tracking Tools: Deploy regular employee engagement surveys (like SurveyMonkey or Qualtrics) to measure employee satisfaction levels, focusing on aspects of wellbeing and work-life wellness.
  • Additional Data Points: Track participation in wellbeing programs and correlate engagement levels with satisfaction scores.

Supporting Tools & Resources:

• Employee Wellness Software: Platforms like Wellhub for managing various wellness initiatives, tracking engagement, and offering a centralized space for wellbeing resources.
• Performance Management Systems: Software like 15Five or Lattice to measure employee feedback, set wellness-related OKRs (Objectives and Key Results), and track progress.
• Communication Tools: Use platforms such as Microsoft Teams or Slack to promote wellness resources, share wellbeing tips, and encourage ongoing participation.

Continuous Improvement:

• Quarterly Reviews: Conduct quarterly assessments to evaluate the impact of wellness programs, adjusting strategies based on feedback and data analysis.
• Annual Re-evaluation: At the end of each year, revisit the program’s success metrics and overall structure, ensuring alignment with the organization's evolving goals and the workforce’s changing needs.

Round Out Your Plan with A Wellness Strategy

Having a strong strategy is one of the most responsible and business-savvy things you can do for an organization, both in terms of profitability and employee wellbeing. By running an effective and stable business — one that prioritizes the care of the workforce — you can boost employee loyalty and engagement. 

In other words, investing in your employees really pays off. Speaking of an investment paying off, did you know that 56% of companies see a return over 100% from their investment in a wellbeing program? This means that they get more than $2 back for every $1 invested.

A wellbeing program like Wellhub is an effective and easy way to work employee wellness into your strategic planning. Talk to a Wellbeing Specialist to see how these programs can boost productivity and take your organization to new heights.

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