Strategic and Tactical Business Planning:
Goal Setting and Action Planning
Industry: Financial Services
Semeron helps clients establish a vision for success through executive and team facilitation. We help then help clients develop detailed goals and action plans that align the entire organization towards common objectives. We work as a facilitator, drawing the best ideas from your people and transforming innovative ideas to achievable action plans with measurable results.
What Was Our Client's Problem?
Our client, a Fortune 500 Seattle area company, sought to re-invent its culture by implementing a performance-incentive compensation system. The first step in this process was to define its Corporate business strategies and goals, to which all departmental, work unit and individual goals would be aligned. Once corporately-aligned goals were established, performance could be objectively measured.
What Did Semeron Do for Our Client?
Semeron designed a Goal Setting process and facilitated multiple goal-setting sessions with each organizational unit of our client. The Goal Setting process began with the establishment of a long range Vision and Critical Success Factors. Annual goals were then assigned to mark progress towards the Critical Success Factors. Semeron helped each organizational unit link their goals to higher level goals, ensuring that all units set mutually supportive goals that accomplished the Corporate objectives.
Once goals were established, Semeron facilitated the development of strategic action plans to achieve these goals. This plan included a measurement and reporting system to track and report progress to Management. This allowed our client to make mid-term adjustments to goals and action plans based upon current market dynamics, competitive actions and actual performance.
How Did Our Client Benefit?
Our client implemented a Pay for Performance system that appropriately rewarded employees for achieving their goals. Employee goals were aligned with work unit, departmental and Corporate goals. Each employee had a “line of sight” between his/her goals and the Corporate goals.
Our client integrated the goal setting process with its financial planning and reporting processes, resulting in better management of operational and planning activities.