It’s early spring, which means trees are leafing-out, birds are singing and baseball has returned to the land. Regardless of your favorite team, there are plenty of lessons that the great game of baseball lends to life and business, including strategic planning.
You must never stop evolving. Baseball teams evolve regularly, pulling up players from the minor leagues, putting players on the disabled list, making trades and changing positions. It’s a fluid game and requires great adaptability. Your bank or credit union strategic plan must be approached in the same way. If you are simply rubber-stamping the same plan (or a version thereof) every year, you’ve stopped evolving and are in danger of losing the game.
Relationships matter. Much like a bank or credit union CEO, a baseball team is captained by its manager. However, that manager rarely makes decisions independent of his support staff. A good manager will listen to what hitting and pitching coaches are saying and how big-picture decisions can impact the rest of the team, both at a game-by-game level and over the course of the season. Similarly, every decision made at your strategic planning session will, in some way, impact every department. It doesn’t matter if it is viewed primarily as a “marketing decision,” “operational decision,” or “IT decision,” its ramifications will impact every employee in every department, some level. Keep this in mind when developing your strategic plan.
Put players where they can succeed. A baseball team wouldn’t win many games if it forced its star pitcher to play catcher. This simply isn’t capitalizing on his inherent strengths and is a waste of both talent and resources. Your bank or credit union, through its strategic plan, must also recognize the same thing applies to your employees. Every staff member has a unique set of skills and talents that can lead to a better financial institution for your consumers. Allow your strategic plan the flexibility to recognize this and plug in the right employee in the right role.
Just as an umpire roars “play ball!” to start a game, your bank or credit union strategic plan is the kick-off to the next several years of development. By learning that you must always evolve, relationships matter and how to position employees where they can best succeed, you increase your chances of capitalizing on that development.