Energetic, Strategic, Alignment

The Fall Season is typically when organizations work to outline their goals, objectives, and budget for the next year’s activity.  Depending upon the leadership approach, the Strategic Planning process can be viewed as time intensive and stressful, or it can be viewed as an opportunity to bring together teams to identify a common vision, be transparent with each other and lay the groundwork for success.

My leadership career has included years where I have worked at IMB’s, a privately held nationwide MSR valuation and brokerage firm, and then the non-profit Housing and Finance Authority arena before becoming a consultant. In each case, the “Tone from the Top” led the Strategic Planning effort. If the President was energetic, was a good listener, allowed outcomes to be vetted to form the Strategic Plan, things were realistic to achieve.

In contrast, when working at an IMB the Strategic Planning approach was virtually non-existent – it was simply how many loans can we originate, approve, close, deliver in the secondary market and what will be our profitability?  The linkage between loan production volume and the resulting income stream was the goal.  I knew something was missing, though was not exposed to any other way of thinking, and then ……

It was not until working at a large home-builder affiliate mortgage company when high growth at a rapid pace became reality that clear changes needed to come into play.   The firm had centralized its processing and closing operations into its main office, with growth projections near the $4 billion mark.   Growth had come quickly moving from the $1 billion mark to $4 billion mark in roughly five years. 

This is where the Operations Team now gained focus, cycle times and reporting were designed, reported upon, and moved teams to be held accountable for execution.   The question you might have is - Did this process work?  Yes, the process did work, though the outlier was how much time and effort was really necessary from employees to achieve results.  

Does this sound like a common theme in your workplace?  It probably is, and in my consulting experience organizations can and do lose site of the human element for success.  

In other words, is the Strategic Plan, Goals, and Timelines established from a “Top-Down” leadership style with little if any participation from the very employees who need to execute the deliverables under the Strategic Plan?     If this answer to this question is YES – then start to ask yourself how things could change if you asked the question – “How and what can we do better, collaborating as a team to improve on the way we work and how we work?”   

I suspect that if you conducted a round table open discussion session with various employees who work in various roles and cover different responsibilities – the conversation would be eye-opening. This is where input to Strategic Planning and moving the organization to a different level of success can have direct impact.  

It is also during this process that work barriers in how employees and managers work together can be identified – lets all admit, there are times when “pecking orders” are not productive. If barriers exist, they will and do impact the very outcomes that are set under a Strategic Plan. The internal dynamics can break down teams and the resulting ability of an organization to be successful.

If you have read this article and some of the items have caught your attention, take time to pause and start with a personal recap to start on your Strategic Planning Process:

This Recap should include:

What?  Ask what you are trying to accomplish.  Start with a broad statement (s), revisit it and then narrow the scope – remain focused.  

Why?  Ask why this goal is important and does it have immediate impact or long-term impact.  Many times, goal setting can be fragmented into those that have immediate impact that are easy to implement and those that take more time to implement for a long-term impact.  It is also important to remove from the list the “nice to have” items, as these created unneeded noise.

How? Frame the key elements of how to achieve the goal.  Staff, time, effort, other work constraints and most important identify a budget.  Budget planning, believe it or not, is typically overlooked and needs to be approved as part of the Strategic Plan.

Who?  Identify internal stakeholders from all roles within the organization.  Be certain to include individuals who might not be viewed as always speaking up or having a voice – you might be surprised in their desire to participate in a creative manner. 

When? Write out the timelines that you think need to occur in three-month increments which can always change, though start setting the stage for what ones vision is.

Then – start the process, being nimble and willing to adjust as the Strategic Plan is built out.

My hope in writing this blog is that it has given you some insights into how positive, well-founded Strategic Planning can result in a level of success for everyone in the organization.   When this type of energy is generated, you will be surprised on the results!

For more information on how BlackFin to be of assistance to your HFA, contact BlackFin Group at info@blackfin-group.com

Luana Slettedahl is a Partner with BlackFin Group in the Mortgage Strategy Practice. Luana brings forty years of diversified experience in Capital Markets, Mortgage Servicing Rights, GSE and Ginnie Mae relationship management and Seller / Servicer requirements. In conjunction with her understanding how to successfully do business with the GSE’s and Ginnie Mae, has made her a significant asset to her clients. For more information contact info@blackfin-group.com