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1st franklin strategic plan 2012 2014
- 2. Core Values
- 6. 1st Franklin Financial Corporation
- 14. Increase our total corporate assets to $535 million by I l $ 3 illi b December 31, 2014. As a part of this goal we will open 15 - 20 new branches in existing and new markets in the southeastern states. In addition, we will continue to grow our customer base through expansion goals in existing operations. Have a minimum 14.5% pre-tax income to revenue p annually and 17% average pre-tax income to revenue during the three-year period ending on December 31, 2014. This will be achieved by continuing to maximize earning power and exercising appropriate expense control. Maintain adequate liquidity through funds provided by operations and financing sources sources.
- 15. y gy Recovery Center Strategy Objectives Open additional Recovery Centers p y Develop specialized staff for Recovery Centers Implement Best Practices and p e e t est act ces a d Lessons Learned in new Recovery Centers Define policies for advanced collections and train accordingly Research alternative collection models f for skip tracing p g
- 16. Collections Attorney Strategy Objective Develop and maintain collection atto ey elat o s ps attorney relationships
- 17. Continue to develop a highly effective leadership system which enables leaders to forecast future human resource needs and manage talent, both for skill development and succession planning. The system allows people to develop the skills necessary for current assignments, as well as for possible future roles. Management will continue to leverage technology, specifically in the area of project management and processes, to support the accomplishment of strategic goals. Senior managers will continue to monitor the economic and regulatory e environment to ensure that the Company remains well positioned to o e t to e su e t at t e Co pa y e a s e pos t o ed to effectively execute our business strategy. Senior Management will also continue to communicate corporate goals and direction through the organizational structure and ensure that appropriate follow‐up measures are enacted as necessary. pp p p y Lastly, and in keeping with our core values, Senior Management will continue to set the tone to instill accuracy and accountability throughout the organization. While some specific separate elements of g p , p “Succession Planning” will be implemented earlier, the complete structure and process will be fully implemented by December 31, 2014.
- 19. Succession Planning Strategy Objective Development of Comprehensive Succession Planning Process Implement Best Practices for Design of Succession Planning Role Specific Support Assignments Devise a Succession Plan Statement of Values Develop Bench Strength Explore additional features of SuccessFactors Software Add Full Circle – Multi‐rater assessment Add F ll Ci l M lti t t processes to Development Redesign the Development Plan Process
- 20. Communication Strategy Objectives Communicate Corporate Goals and Vision Provide Framework for Effective P id F k f Eff ti Communication System Implement Best Practices for soliciting input from pp p appropriate resources Update Internal Web‐site
- 21. Project Management Strategy Objectives Refine Project Management Process Achieve Project Management Maturity by December 31, 2013 Achieve Certification and Formal Training for Project management professionals in PM Department Implementation of Microsoft Project 2007 Web Enterprise I Implement processes for a central l f l repository
- 23. Expand our existing markets, promote visibility of new offices to accelerate growth of new markets with our products h f k i h d and services, and address changing g p demographics of our customer base through new delivery systems or services. We will identify opportunities created by the economic environment and capitalize on a changing/growing customer base.
- 26. Technology will continue to be a primary business driver. primary business driver We will continue to leverage technology for all aspects of our gy p business operations. We will continue to utilize best practices to protect data and confidential t t t d t d fid ti l information from unauthorized access.