Strategy Deployment Support for Principality Building Society

Reinvigoration assisted Principality Building Society with their strategic planning cycle, focusing on enhancing existing strategic objectives, deploying these throughout the organisation and re-prioritising their significant change portfolio to create better alignment.

Client Overview 

Principality Building Society (PBS) was first established in 1860 to provide funding for building new homes in Cardiff. Since then, they’ve continued their proud history of helping people prosper in their homes.  PBS believe that home matters and it is the heart of life, where plans, decisions, and memories are made.  They exist to help Members to lead a fulfilling life wherever or whatever they call home at every stage of their life. PBS’ purpose hasn’t changed in 160 years.

The Challenge

The main challenge to overcome was a problem statement given by the CEO around ensuring that the business were ready at the beginning of the new year to be able to articulate the Group strategic objectives (known internally as ambitions) for colleagues and how during the next year they were going to deliver upon those ambitions.  Additionally, how can the change agenda be fully aligned, giving visibility and clarity to all colleagues on what's important and what the key priorities were for the year ahead.

The Solution

Using their well-defined Strategy Deployment approach, Reinvigoration worked pragmatically with the Executive team to overcome their challenges and provide the much-needed clarity sought, firstly through a process of education and coaching, followed by rapid action to get to an outcome that was a great improvement to the organisation.

"Our experience of working with Reinvigoration was fantastic. They are supportive, approachable, and worked in partnership with us to help us achieve our goals. I would recommend Reinvigoration without a doubt." 

Kelly Young, Head of Operational Excellence, Principality Building Society

How Reinvigoration helped:

• We created and delivered an Executive development programme to train and coach best practice in Strategy Deployment.
• Following this, we provided hands on support to drive improvements to the organisational strategic planning processes, alongside a thorough review of the change portfolio to ensure that all initiatives aligned to strategic objectives.
• Working pragmatically but at pace, we were able to deliver significant improvements to the strategic planning process and whilst doing so continued to coach PBS colleagues to build their capability in the approach.
  

The Outcomes

• Strategic ambition statements were challenged, refined and improved, making sure that they were SMART and tangible, thus ensuring progress towards them could be clearly measured and tracked.
• The entire complex change landscape was reviewed and assessed against the ambitions, with re-prioritisation completed, ensuring that resources invested would have the biggest impact.
  
  
  

The Conclusion

PBS were able to start their next calendar year in the best place that they had ever been in terms of the articulation of their strategic ambitions, the understanding of these throughout the organisation, and finally the alignment of all change activity towards these ambitions.  They were exceptionally ready for future success.