Strategic Planning Management for SME

Strategic Management Planning

Here at Coaching Combinations we believe in a holistic approach to human resources, that is working with HR in the wider context of a business. We believe that a business’s human resource capabilities should be involved in all aspects of a business’s functions, this is particularly true when it comes to strategic planning for SMEs.

Strategic planning for SMEs (small and medium-sized enterprises) is about looking at where a business wants to go in the future and bringing together the resources and personnel to get to that future state. By linking the HR strategy with the help of a consultant to the overarching company strategy, businesses gain the “buy in” of their team members, which contributes to enhanced business performance.

Components of Strategic Planning for SMEs

Team Participation

  • Team member participation enhances skills development through sharing information and knowledge with others
    Through participative strategic planning processes, team members become motivated to work towards common goals that they are involved in making

Incentives

  • Depending on what your team members value, providing incentives to work towards the overarching company strategy further enhances their commitment to the strategy. HINT- It won’t always be money!

Evaluation

  • Regularly evaluating the progress towards the overarching strategic plan for and SME allows businesses to keep track of goal accomplishments
  • Businesses can use performance appraisals to evaluate how individuals are contributing towards the strategic plan
  • Evaluation can identify areas that need further development in supporting the overall company success

Coaching Combinations’ HR consultants can provide your business with practical solutions, actionable and measurable steps and valuable insights into the strategic direction of your SME. Call our HR consultants on (08) 6188 7502 to talk about where you want your business to be in the future.