Whether you call it a retreat, a strategic summit, annual meeting, or what one organization with which I work now calls it –Board Advance – making and taking the time to plan for the future of your company is of paramount importance.
At some organizations, though, just thinking about this annual time to get together and take on significant challenges conjures up visions of having a root canal (no offense to the dentists out there!). So how can any organization capitalize on this planning session and ensure that the time spent is meaningful – and genuinely useful in managing the forward momentum of the organization? Following are some straightforward ideas to ensure a successful outcome.
Plan Ahead. The CEO should allow ample time to gather data to build an agenda for the retreat. The first place to start should be the strategies that were put in motion from the prior year’s session. Did you accomplish your objectives? Which objectives fell short? Gather data on key performance indicators from finance, marketing, sales, and operations. Also, the CEO will find it valuable to meet with a cross-section of employee groups to get a read on what employees think works well in the organization, and perhaps more importantly, where opportunities exist for improvement. Industry data and competitor analyses can also be quite useful in planning the strategy session.
Get Away from the Office. The annual strategy session should always be held away from the office to prevent the day-to-day demands from distracting the participants. Many companies like to schedule these sessions out of town to add a ‘perk’ element to the event while others need to consider costs and the family obligations of the attendees that will be required to attend. Wherever the offsite finds you, it will also be essential to establish some ground rules to disconnect from electronic devices (phones, internet, and the like) to keep participants engaged.
Have and Use an Agenda. With the amount of effort the CEO is likely to go through to plan for the event, one necessity is to prepare an agenda and send it out ahead of time. Keep in mind; the schedule should be used as a guide and be flexible enough to accommodate the energy created and shift the planning session in a positive direction.
Use a Facilitator. While outsiders may not know your business as well as you do, the CEO should consider retaining an external facilitator to participate in the up-front planning and moderate the discussion during the retreat. The facilitator will likely request to spend some time with the team before the retreat to get an understanding of the business and some of the skillsets and personalities involved. A facilitator allows the CEO to become an active participant and will keep the group on task. Many facilitators are also available to assist with the implementation of the strategies when everybody returns to the office.
Encourage full, open participation – everybody plays. It is paramount to make sure that all in attendance participate and provide their ideas, questions and concerns as strategies are developed. Many companies establish ground rules for participation to make it safe for all views to be shared – and the facilitator can help here as well.
Identify THE key initiatives - those you Must Do. If done correctly, the retreat will generate more ideas than can be implemented. The challenge will be to identify the key “must do” initiatives that will create the greatest, short-term impact. Once they are addressed, there will be many backup items on the “should do” list that can be elevated and discussed at a later date.
Establish Project Teams and Deadlines. Teams will be most effective when they are working on their ideas – ownership of the concept will help see the project through to successful completion. Where possible, build teams that are cross-functional. Most importantly, as team projects are developed, tasks should be assigned to personnel with stated due dates. Create implementation plans that can occur over short cycles such as 6-8 weeks. This creates an opportunity to maintain momentum, celebrate frequent successes, and move on to the next project. If all improvement projects were completed in short time frames, how many improvements could your organization make throughout the year?
And, Incorporate some Fun. Plan something enjoyable. Retreats are hard work. Dinners, wine tasting, take in a show, team-building event, beach outings, and sporting events –many options can provide for a needed break from the hard work and that can be beneficial to the overall health of the relationships amongst the leadership team.
Follow-Up. When the retreat is over, the ‘real work’ begins. It will be necessary to schedule check-in times with project teams, and/or the leadership team at large to make sure projects stay on course and to provide opportunities to help teams that need an extra pair of hands to push things forward. Plans that have no actions are just plans.
Wayne R. Pinnell, CPA, is a founding member and serves on the advisory board for the Center for Business Growth. Wayne has over 30 years serving business owners in his public accounting career. He is managing partner of Haskell & White, LLP, one of the largest independently owned accounting, auditing and tax consulting firms in Southern California, servicing public and private middle-market companies. Wayne consults with a number of companies on their general business operations including workflow, waste reduction, strategy, and growth/profit initiatives. He can be reached at WPinnell@hwcpa.com or 949-450-6200.