Tompkins Financial Corporation
Tompkins Financial - Strategic Planning
Tompkins Financial Corporation, headquartered in Ithaca, NY, is a respected NYSE-traded financial services company with a comprehensive suite of services offered by its community banks, insurance agencies, and wealth advisors. The senior leadership team (SLT) and boards of directors agreed that it was time to update the Strategic Plan. The company had successfully executed the 2015 - 2020 Strategic Plan and in light of ongoing industry disruption, a significant update was required.
Westover provided a proposal with multiple deliverables, including:
- Conduct individual SLT and board interviews, summarize in a SWOT analysis, and facilitate discussions of the results with the SLT and board
- Develop a one-page Strategy Map reflecting the company's mission, vision, core values, and objectives within four key perspectives
- Work with the EVP Marketing, Sales, & Service to understand evolving customer experience (CX) requirements and how the Tompkins CX could be improved
- Facilitate SLT and board strategy workshops
- Address confidential strategy matters relevant to growth and scalability
- Develop a 2020 - 2025 Strategic Plan, working closely with the Strategic Planning Committee
Westover produced a SWOT analysis and led discussions with the SLT and board. The SWOT surfaced useful information that became a vital foundation for the strategic planning process. The Strategy Map was developed with a Strategic Planning Committee, reviewed by the SLT and was well-received by the boards at their annual strategy session.
Westover worked with the EVP Marketing, Sales, & Service on pertinent topics, including a vision for a Tompkins CX program. Confidential strategic topics related to growth and scalability were addressed and resolved. The Strategic Plan has been finalized and approved by the board of directors. The plan reflects creative responses to industry and economic disruption and provides a compelling path forward for the company. The board complimented the team on the plan's thoroughness.Explore the rest of our cases