May 9, 2023
Happy May, everyone!
Spring is finally here, bringing with it vibrant greenery and blossoming flowers. Just as nature is gaining momentum, so is Commerce. We are busy laying the groundwork of our multi year Strategic Plan and what it will look like when it all comes together.
So, let’s dive into the strategic plan in a little more detail and talk about how each of you has a role in accomplishing our objectives and milestones in the months, even years to come.
It helps to think of our strategic plan like a roadmap that helps us to make smart decisions and use Utah’s resources effectively. All state agencies have to create a strategic plan that connects to our budget requests and performance measures.
In Commerce’s strategic plan, we have a few important terms to understand. First, we have our mission and core values, which guide us and show us what’s important. Then we have Critical Success Factors (CSFs), which are big ideas that we need to accomplish to fulfill our mission. They help us decide what to focus on.
Commerce has three CSFs that drive everything we do. One is to make sure our regulations, enforcement, and education are effective and relevant in a changing economy. Another is to keep our management and infrastructure up-to-date for economic growth. And the third is to improve communication among our employees.
Underneath the CSFs, we have objectives. Objectives are specific goals we want to achieve that are aligned with our mission and values. They describe a future state that might seem hard to reach, but they inspire us to take action. These objectives take time to accomplish, usually 1-2 years.
Commerce’s objectives are divided among our Directors, but they affect more than one division or office. Each division and office have then used Commerce’s objectives as a starting point to shape their own specific objectives for their purview and employees.
So, our strategic plan is like a guide that helps us set goals, measure progress, and make sure we’re all working together towards a common mission.
Now that we’ve spent some time on the plan, let’s talk about our pay for performance policy, and what you should expect through the next 12+ months. Read that here.