Strategic Planning Series Part II 2014

Strategic PlanningSeries Part II:“Putting It All

Together”

Brought to you by:

Moore Diversified Services

Presented by:

Roy Barker

Presentation Date and Time:

November 20, 2014

1:00pm – 1:30pm CST

Contact Information:

Roy Barker

[email protected]

(817) 925-8374

Thanks For Joining Us• Slightly Different Format

• 30 Minutes• If no time for questions you can email me directly at [email protected]

• Today’s Outline• Introductions• Recap of: - SWOT - Key financial indicators• Align with company mission and vision• Set measurable and realistic goals and timelines• Develop an Operational Plan• Monitor and Evaluate• Refine and Adjust

MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Moore Diversified Services• Full Service Boutique Consulting Firm

• Specializing In Senior Living and Healthcare, both For Profit and Not-For-Profit

• 40+ Years of Experience

• Services Offered• SWOT Analysis and Strategic Planning• Operational Analysis/Benchmarking• Marketing Analysis, Mystery Shopping, and Tactical Planning• Employee Turnover Analysis and Retention Strategies• Investment/Financing Advisory Services• Lender Due Diligence• Market/Financial Feasibility Studies and Proformas• Key Metric Monitoring• “Shared Executive” Retainer Agreements


Roy Barker, Director-Special Projects

• Over 15 years in the industry with MDS

• Education• BBA – Finance• MS Gerontology – Long Term Care, Housing, and Services for the Aging• Pursuing MS – Marketing and an MS – Industrial and Organizational Psychology

• Service• Dallas Area Agency on Aging Advisory Board• Former Volunteer Long Term Care Ombudsman State of Texas• Member Senior Living Round Table – Dallas and Boston

• Specialties• Operations• Marketing• Employee Retention• Training/Coaching


What is Strategic Planning?• Can be used for

• Corporation• Business Division• Community• Products or Services

• Vision of “where” company is headed or the destination – usually 2 to 4 years out

• Agreement of intended outcomes and/or results

• End result will communicate intentions to others

• Differs from an Operation Plan which would be the step to accomplish Strategic PlanMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM

ROY BARKER [email protected]

Why Strategic Planning is Important

• Determines a destination for your business/product/service to go

• A Strategic guide to “plan your work and work your plan”

• A reference for staff so team is moving in the same direction

• Will help define use of resources and energy

• Used as a guide to Operational Planning

• Litmus Test for future decisions

• Provides measurable goals

• Used to evaluate processes and procedures

• When done correctly the process is as important as the results


Where to Start?• Pick a Team

• Board Members and Senior Staff (Include all that will be charged with achieving goals)

• From across all lines, departments, and levels• All seniority levels, from new to the most senior

• Set Up Planning Meetings• Schedule a series of meetings• Remove all distractions• Interruptions for emergencies only• Keep sessions positive• Provide safe and encouraging environment

• Where are you now?• SWOT Analysis• Data driven high level performance indicators


SWOT Analysis• Strengths, Weaknesses, Opportunities, and Threats

• Takes a look inside and outside the company

• Starts planning process

• Determines where you are

• As with Strategic Planning can be used for:• Corporation• Business Division• Community• Products or Services• Personnel


Making SWOT Work For You• Strengths – Build on These

• Weaknesses – Resolve These

• Opportunities – Exploit These

• Threats – Avoid TheseMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Data Driven High Level Performance Indicators

• Key Financial/Operational Indicators• Benchmarking operations• Occupancy• Margins• Cash Flow

• Marketing Metrics• Leads per vacant unit• Leads to tours• Tours to close• Cost per acquisition

• Employee Turnover – Aggregate Rate• Turnover rate• Financial Impact• Who’s leaving


Now That We Have a Starting Point

Revisit and Review or Develop If Necessary

• Mission Statement – Why are you in business, statement of purpose

• Vision Statement – Where you want to be, what you want to achieve mid to long term

• Values – What you stand for, operating philosophies and principles

• Culture – Human Behavior, Combination of Vision and Values


Setting Goals• Make Sure They Align with Mission, Vision, Values, and Culture

• Ask the Tough Questions

• Request Data

• Research Solutions

• Use SWOT Analysis Results

• Goals • Concrete• Measureable• Ambitious but attainable

• Establish Realistic Timelines

• Be Consistent


SMART System• S – Specific

• M- Measurable

• A – Achievable

• R – Realistic

• T - Timely MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Some Additional Questions• What are key non-negotiables critical to company/community success?

• What behaviors or processes do you want to see changed?

• What are obstacles that can get in the way?

• What will your organization look like in 5-10 years?

• What do you want to achieve?

• What does your success look like? MOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Sample Resident Care Goals• Increase Resident Net Promoters by X bps over the next 36 months

• Reach and maintain X% Net Promoters months 36 and beyond

• Acknowledge and respond to resident and family complaints within X hours

• Decrease by X% each year those residents that leave to go to another AL

• Increase resident engagement/participation by X% year over yearMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Sample Human Resources Goals

• Decrease Employee Turnover by X bps over the next 24 months

• Achieve and maintain employee turnover rate at or below X% in 2 years

• Increase employee training by X hours each of next 5 years

• Increase staff Net Promoter ratio by X% in each of next 2 years

• Achieve and maintain staff Net Promoter ratio of X% in years 3-5


Sample Financial Goals• Increase Revenue by X% in 6 months, X% by 12 months, and X% by 36

• Increase Level of Care Revenue to X% of Total Revenues in 36 months

• Hold Expense to X% increase year over year

• Increase Excess Margin by X bps each year

• Increase cash flow by $X or X% in 24 monthsMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Sample Marketing Goals• Increase occupancy by X bps each of the next 2 years

• Maintain X% occupancy in years 3-5

• Increase HOT leads category by X number of leads each month

• Increase tours to X% of leads by the end of 12 months

• Achieve/Maintain a closing rate of X% of tours by 12 monthsMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Wrapping Up The Process• Distribute Final Draft to Committee Members

• Distribute a Final Draft to Entire Company

• Encourage Constructive Feedback

• Test Assumptions Made

• Develop Operational Plan to Achieve Strategic Goals

• Determine who is accountable

• Report Implementation Milestones

• Evaluate the Progress

• Measure the Results

• Reward Employees That Make It HappenMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Recap – Where to Begin• What is a Strategic Plan?

• Destination or Vision of where you want to be• Communicates to others• Measurable targets

• Why Develop a Strategic Plan?• Communicates desires• To measure progress• Process is as important as the plan

• SWOT Analysis• Internal and external view of company/community/product or service• Starting point to map success

• Data Driven High Level Performance Indicators• Key financial indicators• Marketing metrics• Employee Turnover – Aggregate rateMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM

ROY BARKER [email protected]

Recap – Putting It All Together• Revisit or Develop Company

• Mission Statement• Vision Statement• Company Values• Company Culture

• Set Goals - SMART• Specific• Measurable• Achievable• Realistic• Timely

• Communicate

• Evaluate

• Follow up

• Reward/PraiseMOORE DIVERSIFIED SERVICES WWW.M-D-S.COM ROY BARKER [email protected]

Questions or Comments?If you have questions or comments

Please feel free to email or call Roy Barker at:

[email protected]

(817) 925-8374

Also, please complete the two-question survey following presentation. Thank you!


Documents

Strategic Planning Series Part II 2014