Implementation of the Strategic Plan

IMRF Strategic Plan
Meeting room

Action Plans

Each Strategic Objective is assigned sponsorship by an IMRF senior leader. These sponsors identify the appropriate employee who will serve as the single point accountable (SPA) for each Key Strategy associated with that objective. These SPAs are responsible to form teams, develop high level action plans, determine possible budget implications for each strategy, work with their sponsor to obtain resources as needed, lead the implementation of action plans, and provide regular updates to leadership on the progress and status of plans. The action plans for each key strategy are aligned with the overarching Strategic Objective. They also provide a greater level of detail, corresponding timelines and milestones for the actions, and the resources required to implement the strategy. Action plans are continually reviewed and revised to ensure the Strategic Plan remains both relevant and responsive to the needs of the organization and to all our key stakeholders.

Annual Operating Budget

Implementation of the action plans may require some incremental increases in the IMRF administrative budget. The administration of an annual employee engagement survey, an enhanced training program, voice of the customer surveying tools, and additional meeting costs highlight these incremental increases. Costs associated with the Strategic Plan will be included in the administrative budget.

Integration of Strategic Objectives with Leadership Scorecard and Performance Management

There is an adage that “What gets measured gets managed.” We apply this concept to the Strategic Plan to ensure it receives the appropriate attention needed for successful implementation. For each Key Result Area, measures are identified for the Leadership Scorecard. Monthly reviews of Leadership Scorecard measures and Action Plan updates enable leadership to track the achievement of action plans and the effectiveness of related key strategies.

We will update the performance goals of senior management such that they are aligned with the Strategic Plan. Senior management will complete this same exercise for the management group. Performance towards completing the Strategic Plan will play an important role in the evaluation of the managers’ performance.

Communication Plan

The Strategic Plan is a tool that must become part of the culture of IMRF. Therefore, we must emphasize the communication of the Plan to our staff, Board of Trustees, and all stakeholders. Our communication plan is simple, but will possess a systematic approach for spreading our message.

IMRF Staff

A formal introduction of our new Plan will be made to our staff. The full Plan is posted for review on our Intranet. The Strategic Objectives will be highlighted in employee meetings. All employees will be reminded of our Vision, and gain an understanding of their role in achieving our Strategic Objectives.

Board of Trustees

The Trustees will review and validate the Strategic Plan as part of the 2017 Adopted Budget Document at the November 2016 Board Meeting. We will provide quarterly status updates to the Trustees during 2017, and will continue to do so throughout the three-year cycle of this Plan. Another comprehensive strategic planning process will be completed by staff and the Board in 2019.

IMRF Stakeholders

We will include highlights of the Plan in our Fundamentals newsletter articles and in memos to our employers. We will also post our Plan at www.imrf.org.