Too often, leadership teams are overconfident in their alignment or have gotten out of sync over time. And it’s hindering their growth.
IPM’s executive research study found that those who say their company is fully aligned are three times as likely to report increasing revenue than those who are not fully aligned. And companies whose executive teams do more to stay aligned also tend to perform better.
The research findings, plus decades of client experience, reveal the following best practices to pre-emptively identify what you need to do to get and stay aligned, formally and regularly assess leadership team alignment, and develop and adhere to formal processes.
1. Proactively identify necessary changes.
Ask the tough questions: Are your organizational structure and incentive systems helping or hurting your strategy? If promotions or budgets are tied to the wrong things, even the best initiatives can stall.
2. Commit overtly to what you won’t do.
Most teams commit to their strategic goals, but very few commit to what they’re not going to pursue. Creating clear rules for deprioritized initiatives—and what to do with extra resources—helps keep everyone focused.
3. Conduct ongoing risk management.
Misalignment can sneak in quietly. Look back at when your team has drifted out of sync before and identify potential risks early.
4. Establish and monitor KPIs.
KPIs for strategic goals are a given. But do you also track how well your leadership team is working together? Metrics like trust levels, meeting effectiveness, and collaboration can give you valuable insight.
5. Engage with lower-level staff on projects.
Skip-level meetings give executives a clearer view of what’s really happening. They also build culture and help surface issues before they escalate.
6. Develop a framework for setting and managing strategic initiatives.
A clear, disciplined process for setting and managing strategic initiatives—one that includes intake, prioritization, risk review, and fair debate—can help eliminate bias, reduce friction, and ensure every voice is heard.
7. Collaborate and communicate.
Regular, structured communication is key, so build in time to talk. Dashboards, meetings, and updates help keep the team aligned and moving together.
8. Hold each other to account regularly.
Define roles, set goals, and track progress. Make it safe for team members to ask for help and give honest feedback. Shared accountability keeps things moving and builds trust.
9. Empower a person and/or team to protect the strategy.
Data shows that companies with a designated person or centralized team responsible for strategy execution are more likely to grow revenue. Strategy needs a steward.
Take the next step
Download our white paper, You’re Not as Aligned as You Think You Are, for insights from IPM’s exclusive executive research and a framework for getting and staying aligned.
Download a PDF of the infographic.
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