b'STRATEGYSTRATEGY COVID forced a pause in strategic initiatives but left a desire to refresh enterprise strategy early and the53% Paused their strategic initiativesimperative to heal a wounded workforce.While our economy, society and industry have absorbed the events of COVID-19, strategic initiatives and future planning have taken a backseat. MINDSETS showed65% Say that their operating model is not aligned that 53 percent of respondents were forced to pause strategic initiatives that were imperative to advancing their organizations. While this isnt unexpected in the throes of a global pandemic, the impact these pauses will have may be considerable. Organizations will need to determine how to best jumpstart theirto the needs of their strategic visionstrategic initiatives to regain their pre-pandemic momentum. MINDSETS participants made it clear that a serious revision of their enterprise strategic plan would be required in order to address the impact of COVID-19. Plan on revising their enterprise49 percent said that they planned on a revision before their current plan runs past its current timing. Of the 49 percent respondents that plan on an early49% strategic plan. Of the 49%, 82%revision, 82 percent plan on doing so within the next year. Altering a strategic plan, especially ahead of schedule, will require a great deal of focus and resources. Addressing the changing dynamics that have been exacerbated by COVID-19 within a 12-month timeframe allows organizations to maintain their agility in theplan to do so within the yearmidst of an ever-changing environment. Enterprise strategic planning completed every three to five years is no longer best practice, suggesting that annual business planning with a refined and ever-evolving strategy is the way of the future.0-6 Months7-12 MonthsDespite the desire and need for a change in strategy, 65 percent of MINDSETS respondents said that their current operating model and organizational design13-24 Monthsare not aligned to the changing needs of their strategic vision. As a further complication, the primary long term issue healthcare executives identified was the0 10 20 30 40 50 24+ Monthsworkforce of the future, followed closely by financial stability. Increasingly, organizations have found that the challenge of managing and maintaining their workforce to support execution has become an important long-term issue, and without a targeted plan and approach, execution of that their strategy could be jeopardized. Balancing these two primary challenges within a strategic planning process will be difficult. But yet again, it provides organizations the opportunity to get ahead of these two challenging issues that, if left on their own, will cause much more significant long-term problems.An organizations strength lies in its adaptability to changing conditions. It should be leveraged to not only set but also execute established strategies. Additionally, opportunities may arise that drive an organizations ability to be innovative pioneers. Even unrecognized strategies, with sufficient finetuning, hold the potential to become tomorrows best practices. With potentially limited resources and growing clinical shortages, the prioritization of strategies is crucial to maintain continuity over the long-term. Emerging from the pandemic with a clear vision, defined goals and a strategic plan of execution is essential to achieve long-term sustainability. Assurance/Tax/Advisory/dhg.com 6 7 2021 Dixon Hughes Goodman LLP. All rights reserved. DHG is registered in the U.S. Patent and Trademark Office to Dixon Hughes Goodman LLP.'