Waves of COVID: 4 Critical Steps to Accelerate out of the Pandemic

A strategic blueprint to unite and galvanise the whole bank

60%

agree purpose is one people here really believe

90%

feel they’ve been as or more effective in driving strategic outcomes

Purpose driven strategy

TSB launched first ever Responsible Business Strategy – Do What Matters Plan.

TSB needed their whole business to understand a new strategy, commit to making it real and focus on what they must do to drive growth in 2020 and beyond.

Background

With a new CEO in role, a new exec team around her, and fierce competition amongst challenger banks, TSB needed a compelling strategic narrative for the bank to mobilise all their employees and strengthen relationships with customers.

Approach

To create true, lasting impact we partnered with TSB to not only ensure that the work was done in a way that would help leaders feel that they were really moving forward to a new chapter, but also to do the work at all levels of the organisation from the board to the frontline. This meant doing four things:

  1. Align the newly formed executive leadership team around the business direction 
  2. Design a simple but compelling articulation of the business direction going forward (pictured above)
  3. Get senior leaders committed to leading the change 
  4. Mobilise the rest of the business around a unified narrative 

The blueprint initiative has had a strong impact on TSB’s culture and employee engagement; but more than that, it has driven the business’ resilience during the COVID-19 pandemic and a set of strategic initiatives to follow, all rooted in their purpose.