Ultimately, the effectiveness of policy comes down to one question.
Will your organisation performance manage and fire someone over it?
If they won't, it's not worth the electrons that store it.
The reason is simple.
Your policy competes for time.
If it competes with things your organisation will performance manage and fire people over, it's going to lose.
Every organisation has things that it will performance manage and fire people over, if yours isn't one of them then you're on a long frustrating road because what you're doing will be secondary, ever time.
Good policy is about things that are important enough to fire people over.
Things that are more important than any one person in an organisation.
If what you're working on isn't that important.
It's probably not worth writing the policy.
Make suggestions.
Preference advising.
Don't waste your time on policy.
and when your state regulator includes it as a compliance requirement?