A strategic planning retreat was held on July 22nd to 24th, 2016 at the Playa del Este in Salybia for the purpose of preparing a plan for the Society for the period 2016 to 2019.
It was attended by members of the Board of Directors, chairpersons of the Statutory Committees as well as members of the management team.
The session was facilitated by Marcia Goodridge-Constantine of Goodridge and Associates, who was responsible for guiding the assembled team in formulating the plans for the future.
In preparation for this event, surveys were administered to a sample of our membership as well as to our staff, to gain feedback on what ideas they wanted the team to consider and expectations they wanted filled.
As part of the sessions teams were created by the board and assigned the themes to be their guiding principles throughout the session as follows:
Core Operating Values were later developed and finalised as follows:
- Shared values
Critical Success Factors (CSF) by business was identified as follows:
- Competitive rate of return – strategy
- Delivery time of cheques – system
- Drive for new members – strategy
- Types of products – strategy
- Best fit person – skills, staff (org, staff, committees, board members)
- Effective communication – skills and shared value
- Performance management system – system
- Motivated teams
- Brand awareness
- Customer retention & loyalty
|·To eliminate transaction delays when system fails as a result of electrical outages
||·Generators will be sourced and installed.
|·Create mergers and strategic alliances
||·Alliances will be revisited and reestablished
·Research will be launched to identify any further alliances
·Policy will be established
|·Establish a vibrant youth arm.
||·Embark on youth arm membership drive.
·Review and update the youth arm policy.
||·Conduct a feasibility study.
|·Delinquency reduction –
||·Target THA sector
·Target primary secondary & tertiary Schools
·Drive for new members
|·Review and improve on the existing products
·Introduce new Products
|·To conduct market survey
·Audit of existing products
·Rebranding and advertising
·Create new product
·develop product to capture a new and existing market
|·Diversification of Investments
||·house building and flipping
|·Improve Brand awareness
||·Following up with feedback and questions.
·Engaging staff, members and union.
·B.O.D and committee members are visible at the frontline to gather data and listen to the staff and members.
|·Best fit person (BOD committee members)
||·Identify the responsibilities for each position and develop the job description
·develop a job description to fit the needs of the C.U
·Create a Succession Plan
·Training will be imported to the membership.
·Members will be identified/ recruited for leadership roles
- Higher dividends
- Increase growth in asset base by $20 m over the three years
- Increase Income by 10% annually
- Increase Surplus by 5% annually