Tax Executives Institute, Inc. Vision 20/20 Strategic Plan: Itinerary for the Future

Transcription

1 Tax Executives Institute, Inc. Vision 20/20 Strategic Plan: Itinerary for the Future Approved: June 14, 2012

2 Background Tax Executives Institute s last strategic plan was developed nearly 15 years ago and the tax policy and administrative environment, financial reporting rules, the in-house corporate tax profession, and the Institute have all changed significantly. To ensure that the Institute remains the preeminent association of business tax professionals worldwide, TEI appointed a task force (the Vision 20/20 Task Force) in September 2011 to develop a strategic plan defining the ideal TEI for the next 5-10 years. TEI enlisted the facilitation assistance of Stephen C. Carey, Ph.D., CAE, Lead Strategist from Association Management & Marketing Resources, a strategic planning firm that focuses on strategic and alternative future planning in the nonprofit, professional, and trade association community. The Task Force conducted a variety of research, held three facilitating brainstorming and planning sessions, and developed this strategic plan, which was approved by the Institute s Board of Directors on June 14, To ensure the strategic plan was based on quantifiable data, the consultants gathered information in the fall of 2011 through surveys, interviews, and focus groups, of both member and non-member stakeholders. The Task Force held in person meetings on November 11, 2011, March 8, 2012, and May 22-23, 2012, to review the data and work with the consultants to develop the fact-based strategic plan contained in this document. Rather than necessitating significant changes to the Institute s current activities, the research and associated analysis and planning processes confirmed that TEI remains focused on the issues of greatest importance to its members. For example, the statement of the Institute s vision is almost identical to one created as part of TEI s 1999 strategic plan. That said, the changed business environment including specifically the growing globalization of business (as well as tax policy, tax administration, and tax compliance and enforcement activities) and availability of myriad technology-based tools necessitates adjustments in order for the Institute to remain relevant and responsive to the needs of in-house tax professionals. Task Force Members Co-Chairs David Penney (Toronto Chapter) TEI International President Carita Twinem (Wisconsin Chapter) TEI Senior Vice President Members Clive Baxter (EMEA Chapter) Rodney Bergen (Vancouver Chapter) Daniel Goff (Santa Clara Valley Chapter) Paul O'Connor (New England Chapter) Mitchell Salamon (New York Chapter) Katrina Welch (Dallas Chapter) Rita Makaris (Chicago Chapter) 2

3 Helena Klumpp (Chicago Chapter) Terilea Wielenga (Orange County Chapter) Catherine Stevens (Chicago Chapter) Mark Silbiger (Cleveland Chapter) Charles (Sandy) Macfarlane (San Francisco Chapter) Staff Resources Timothy McCormally, TEI Executive Director Eli Dicker, TEI Chief Tax Counsel Daniel De Jong, TEI Tax Counsel Methodology The Task Force used the following methodology in creating the strategic plan starting with the base research at the bottom of the triangle and then working from the development of Core Values and Purpose elements down to Priority Objectives and Tactical Initiatives: The methodology used involved a research component consisting of in-depth interviews with members and key outside stakeholders, focus groups, formal on-site staff interviews, quantitative summary research (i.e., a membership satisfaction survey), an environmental and web-based scans, and 20 hours (over three days) of in-person facilitation with the Task Force to review research materials and develop the strategic plan. The following specific planning elements were used in the TEI strategic planning sequence: Phase I Pre-Facilitation Work 3

4 Interviews & Focus Groups with Task Force, Key Volunteers, Members & Staff Website Comment Solicitation from Members and Visitors Environmental and Web Scan -- Discovering Key Trends and Issues Quantitative Survey (Membership Satisfaction Survey) Phase II Strategic Planning Research Facilitation Review of all Research by Task Force Constructed Key Issues List for Plan Construction Phase III Task Force Meeting to Develop the Plan Conduct of an Alternative Future Scenario (Worse Case) Exercise Review and Set Organization s Values Discuss the Core Purpose Elements Set the Vision and Mission of the Organization Going Forward Review and Development of Goal Areas and Prioritized Objectives Discuss Metric Evaluation Criteria and Next Steps for Tactical Initiative Development Phase IV Plan Build-out Team, Committees, and Staff Review of Key Objectives and Create Tactical Initiatives Development of the Business Plan and Work Plans Review of Plan Progress and Periodic Tune Up 4

5 TEI s Vision, Mission, and Goals Vision Tax Executives Institute is the preeminent association of in-house tax professionals worldwide. Mission Tax Executives Institute serves its members and their employers through education, networking, and advocacy in the following goal areas: Goal Areas A. Education B. Advocacy and Government Liaison C. Global Operations and Initiatives D. Marketing, Communications, and Public Relations E. Membership Recruitment, Retention, and Networking F. Chapter Development and Relations G. Governance and Management Goals areas are wide guidance paths created in each of the functional areas in association management that lend general direction to the planning team, allowing them to create specific objectives needed to move the association forward over the next planning period. Think of goal areas as axes of advance that will move the association forward in the areas designated by the vision and mission of the association. 1 1 Stephen C. Carey, The Association and Nonprofit Strategic Planning and Research Guide. 5

6 Goal Areas and Objectives An objective is a specific means of achieving a portion of a goal area in terms of size of task, time and responsibility. 2 Unlike the goal areas, the objectives below have been prioritized to ensure the issues of most importance to the members are addressed earlier in the execution of the strategic plan. Goal Area A EDUCATION Objective 4: Evaluate Institute-level Continuing Education programming, including relevance and execution of all aspects of the two major conferences. Review and strengthen delivery mechanisms for all TEI educational offerings. Review and evaluate program content to ensure TEI is serving the wide diversity of its membership in all areas (geographic, industry, younger members, aspiring members, etc.). Leverage chapter educational programs across the organization (e.g., can programs be shared across chapters and regions?). Goal Area B ADVOCACY AND GOVERNMENT LIAISON Objective 4: Define and develop a plan for TEI's role in U.S. tax reform going forward. Identify key governments, as well as quasi-governmental organizations (such as the United Nations and the Organisation for Economic Co-operation and Development), to determine where TEI should be engaging in advocacy work and similarly identify where TEI should avoid engaging. Create list of advocacy priorities by target and by committee to enable TEI to be more assertive in its advocacy program. Ensure matching of advocacy goals, staff and member capacity, and other resources. Review approval process for advocacy submissions and use technology more effectively to develop and communicate advocacy. Goal Area C GLOBAL OPERATIONS AND INITIATIVES Review current and define future scope and roles outside of North America (i.e., audience, actions, education, advocacy, etc.). Enhance opportunities for non-north American members to participate in TEI activities (educational programs, advocacy projects, and networking). Goal Area D MARKETING, COMMUNICATIONS, AND PUBLIC RELATIONS Investigate use of alternative, preference-based communication methods and strategies (content and delivery method) at the Institute-level. Evaluate networking channels (e.g., face-to-face, social media, forums, mobile apps, website, tweeting during meeting sessions, etc.) that encourage participation and enhance interaction. 2 Stephen C. Carey, The Association and Nonprofit Strategic Planning and Research Guide. 6

7 Create an interactive database based on membership experience, preferences, and practice areas to enable TEI to target individual member needs and desires by means, for example, of effective, stratified tools (e.g., Canadian members, state & local tax professionals, Chicago members, etc.). Objective 4: Assess whether TEI s print magazine, or some combination of print and e- delivery, is the best and most cost-effective method for communicating with the members. Consider effect of format on timeliness of content, use of photographs and graphics, sponsor reaction, and member preference for different formats. Goal Area E MEMBERSHIP RECRUITMENT, RETENTION, AND NETWORKING Objective 4: Objective 5: Become customer service centric in all that we do for our members, developing customer service criteria and metrics for each function of TEI. Assess membership eligibility requirements, á la carte pricing, and the value proposition by membership segment to ensure TEI maximizes individual member satisfaction (i.e., return on investment). Develop and execute networking strategy for the diverse segments within the membership (e.g., CTOs, new and younger members, geographic, industry, and specialty areas). Assist the chapters in developing recruitment tools including quantified value propositions for all items/services TEI provides its members. Review the need for an Institute-level recruitment campaign (including chapter-based components). Focus on smaller tax departments, younger members, and other segments, emphasizing particularized member value. Create opportunities for newer and younger practitioners. Goal Area F CHAPTER DEVELOPMENT AND RELATIONS Reevaluate content of annual leadership seminar and consider expanding attendance cadre. Review current Institute-chapter relationship and improve connections between chapters and Institute using onsite visits, web, and social media tools. Goal Area G GOVERNANCE AND MANAGEMENT Conduct a governance and management assessment to ensure the structure facilitates future operations. Review IT and association management software systems to ensure they facilitate TEI management and operations. Review diversity make-up of leadership on the Board and committees to ensure leadership is reflective of membership. 7

8 Tactical Initiatives Tactical Initiatives (TIs) spell out how objectives will be implemented and outline an action plan. They, in combination with the work plans, should answer the Who, What, Where, When, and How [of the related Objective] Most important, tactical initiatives are the link between the strategic plan (through objectives) and the annual plan of work that will implement the strategic plan. 3 Goal Area A EDUCATION Evaluate Institute-level Continuing Education programming, including relevance and execution of all aspects of the two major conferences. Tactical Initiative A.1.1: Tactical Initiative A.1.2: Identify trends in all Institute-level programming (i.e., profit levels, attendance levels). Evaluate whether current Institute-level programming meets needs of membership (content, format, length, frequency, and balance with regional offerings). Suggest changes to revise programming. Assess effect of no-fee programs (e.g., those offered by law and CPA firms) and how TEI can enhance and maintain value with its feebased offerings. Develop a quantifiable value equation to differentiate and promote TEI s menu of educational programs. Review and strengthen delivery mechanisms for all TEI educational offerings. Tactical Initiative A.2.1: Review, strengthen, and balance TEI delivery mechanisms such as online, webinars, social media, conferences, courses, seminars, etc., to ensure the delivery vehicles match preferences of membership. Review and evaluate program content to ensure TEI is serving the wide diversity of its membership in all areas (geographic, industry, younger members, aspiring members, etc.). Tactical Initiative A.3.1: Determine whether content of Institute-level meetings and regional meetings are appropriately balanced (e.g., by reviewing programs for past 3 years), and adjust future programs accordingly. Ensure all segments are served by appropriate content. 3 Stephen C. Carey, The Association and Nonprofit Strategic Planning and Research Guide. 8

9 Tactical Initiative A.3.2: Determine attendee diversity (e.g., gender, regional, member vs. non-member, experience by job title, years of membership, program attendance, and industry type) of Institute-level meetings (e.g., by reviewing results for past 3 years) and use data in creating marketing materials such as solicitations and mailers targeted to different segments. Objective 4: Leverage chapter educational programs across the organization (e.g., can programs be shared across chapters and regions?). Tactical Initiative A.4.1: Review Institute-level and chapter educational menu and develop an intranet application for sharing education and other key information (e.g., explore posting chapter educational meetings on TEI s website). Goal Area B ADVOCACY AND GOVERNMENT LIAISON Define and develop a plan for TEI's role in U.S. tax reform going forward. Tactical Initiative B.1.1: Tax Reform Task Force to create an advocacy plan to monitor legislative developments and identify advocacy opportunities. When opportunities are identified, Tax Reform Task Force, in conjunction with the relevant committees, will prepare advocacy as warranted for review by Executive Committee. Identify key governments, as well as quasi-governmental organizations (such as the United Nations and the Organisation for Economic Co-operation and Development), to determine where TEI should be engaging in advocacy work and similarly identify where TEI should avoid engaging. Tactical Initiative B.2.1: Develop TEI engagement strategies for country governments as well as quasi-governmental organizations. Create list of advocacy priorities by target and by committee to enable TEI to be more assertive in its advocacy program. Ensure matching of advocacy goals, staff and member capacity, and other resources. Tactical Initiative B.3.1: Conduct a periodic review of advocacy initiatives that ranks initiatives by importance (comparing them against overall Institute goals and focusing on compliance and administration of legislation and rulemaking changes), including estimates of required staff resources and outside spending needs, to ensure coverage of priority issues and workload balance among staff. Include anticipated deadlines to assist in scheduling necessary Executive Committee review of advocacy submissions. Objective 4: Review approval process for advocacy submissions and use technology more effectively to develop and communicate advocacy. 9

10 Tactical Initiative B.4.1: Communications & Technology Committee to assess the capability of TEI s website (and associated collaboration tools) to facilitate member participation in the submission process. If the current website does not enable this expanded involvement, review costeffective alternatives and implement where appropriate. Heighten member awareness of advocacy submissions. Goal Area C GLOBAL OPERATIONS AND INITIATIVES Review current and define future scope and roles outside of North America (i.e., audience, actions, education, advocacy, etc.). Tactical Initiative C.1.1: Implement recommendations of Global Tax Advocacy Task Force (concerning, e.g., audiences for and types of advocacy). Enhance opportunities for non-north American members to participate in TEI activities (educational programs, advocacy projects, and networking). Tactical Initiative C.2.1: Assess need for Institute-developed tax courses and other programs to educate non-north American members in U.S. tax laws. Goal Area D MARKETING, COMMUNICATIONS, AND PUBLIC RELATIONS Investigate use of alternative, preference-based communication methods and strategies (content and delivery method) at the Institute-level. Tactical Initiative D.1.1: Conduct review of current communications to members and potential alternatives and develop a comprehensive association-wide marketing and communications plan. Evaluate networking channels (e.g., face-to-face, social media, forums, mobile apps, website, and tweeting during meeting sessions) that encourage participation and enhance interaction. Tactical Initiative D.2.1: Benchmark with other professional associations (e.g., bar and CPA associations) concerning communications channels and document best practice. Ensure networking efforts differentiate among different membership segments. Evaluate the value of various options and propose new channels. Consider all options including new ideas and established ones that have proven successful (e.g., conference calls). Create an interactive database based on membership experience, preferences, and practice areas to enable TEI to target individual member needs and desires by means, for example, of effective, stratified tools (e.g., Canadian members, state & local tax professionals, Chicago members, etc.). 10

11 Tactical Initiative D.3.1: Evaluate current and, as necessary, improve association management system to ensure delivery of content and services are targeted to different membership segments. Develop communications and training strategy for staff, committee chairs, and other TEI leaders to enable their use of TEI s tools and solicit their input on key uses. Objective 4: Assess whether TEI s print magazine, or some combination of print and e- delivery, is the best and most cost-effective method for communicating with the members. Consider effect of format on timeliness of content, use of photographs and graphics, sponsor reaction, and member preference for different formats. Tactical Initiative D.4.1: Research communications strategies of similar organizations and document best practices. Review alternatives to print magazine, considering costs and advantages and disadvantages. Goal Area E MEMBERSHIP RECRUITMENT, RETENTION, AND NETWORKING Become customer service centric in all that we do for our members, developing customer service criteria and metrics for each function of TEI. Tactical Initiative E.1.1: Develop an overall customer service plan, including metrics to document effectiveness among different TEI segments. Assess membership eligibility requirements, á la carte pricing, and the value proposition by membership segment to ensure TEI maximizes individual member satisfaction (i.e., return on investment). Tactical Initiative E.2.1: Tactical Initiative E.2.2: Tactical Initiative E.2.3: Appoint a Task Force to assess potential á la carte pricing for different membership segments to ensure TEI maximizes individual member return on investment. Appoint a Task Force to assess whether TEI should adjust or eliminate the five-year corporate tax experience requirement and other membership criteria. Gauge the effect this change may have on Chief Tax Officers and other senior members. Evaluate how TEI prices membership and determine appropriate dues level. Consider whether membership in TEI should be changed from a professional (individual based) to a trade (company) membership organization, whether TEI should provide volume discounts (for multiple members from same company), etc. Examine whether dues should include a minimum amount of educational training (i.e., 2 webinars, season passes, etc.) as a key membership benefit. 11

12 Tactical Initiative E.2.4: Assess the value proposition by membership segment and by program or service. Examples of membership segments to consider are CTOs, younger members, large vs. small companies, U.S. vs. non-u.s. members, state tax professionals, international tax professionals, industry groups, and CAP taxpayers. Develop and execute networking strategy for the diverse segments within the membership (e.g., CTOs, new and younger members, geographic, industry, and specialty areas). Tactical Initiative E.3.1: Develop a segmented networking strategy for each program and member segment at all appropriate meetings. Objective 4: Assist the chapters in developing recruitment tools including quantified value propositions for all items/services TEI provides its members. Review the need for an Institute-level recruitment campaign (including chapter-based components). Focus on smaller tax departments, younger members, and other segments, emphasizing particularized member value. Tactical Initiative E.4.1: Integrate local chapter and Institute-level recruitment efforts. Objective 5: Create opportunities for newer and younger practitioners. Tactical Initiative E.5.1: Identify best practices used by other professional associations to serve younger members (e.g., young lawyers division of bar associations). Focus networking efforts on younger members needs and priorities. Evaluate value of various options and propose new ways to meet needs of younger members. Consider options including new ideas and ones that have proved successful for other organizations (e.g., possible new category of member, mentoring one-on-one or in circles, virtual meetings, conference calls, etc.). Goal Area F CHAPTER DEVELOPMENT AND RELATIONS Reevaluate content of annual leadership seminar and consider expanding attendance cadre. Tactical Initiative F.1.1: Determine future objectives for this meeting (both at the Institute and chapter level), independent of current agenda and perform gap analysis. Review current Institute-chapter relationship and improve connections between chapters and Institute using onsite visits, web, and social media tools. Tactical Initiative F.2.1: Determine ways to integrate chapter officers more effectively into Institute-level organization. Currently lower ranking officers don t have sight lines into Institute operations. Create leadership instruction program for chapter officers that provides leadership 12

13 development and chapter association management governance training. Tactical Initiative F.2.2: Create an intranet to facilitate inter-chapter communications. Goal Area G GOVERNANCE AND MANAGEMENT Conduct a governance and management assessment to ensure the structure facilitates future operations. Tactical Initiative G.1.1: Conduct a comprehensive governance and management assessment and use the recommendations to modify or restructure governance and management components as necessary. Review IT and association management software systems to ensure they facilitate TEI management and operations. Tactical Initiative G.2.1: Following assessment of TEI s IT infrastructure (e.g., association management system), using outside resources as appropriate, Communication & Technology Committee will identify and assess options for improvement, together with pros and cons of each, for consideration by Executive Committee. As appropriate, develop vendor RFP in respect of selected option(s). Review diversity make-up of leadership on the Board and committees to ensure leadership is reflective of membership. Tactical Initiative G.3.1: Tactical Initiative G.3.2: Tactical Initiative G.3.3: Refine TEI s diversity policy for various segments of TEI s leadership. Encourage chapters to assess and improve diversity of their leadership. Review the nominating committee procedures to determine how best to advance diversity goal in the nominating committee policies and procedures. 13