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Newsletter | Articles A strategy for development Introduction The corporate services division of the ILS group of companies was established in the Isle of Man in 1991. In 2002 the ownership of the corporate services division was separated from the products division and a company called The ILS Group Limited was established to act as a holding company for all corporate and trust activity. The ILS group is now represented in some form or another in 10 locations worldwide, and has over 50 employees spread throughout these locations. Our core activities are located in the Isle of Man, London and the British Virgin Islands. We believe that these locations offer an attractive product offering for our clients and we anticipate that they will continue to do so for the foreseeable future. We therefore remain committed to these locations as places from which we wish to do business. Furthermore we currently possess the most experienced and well-qualified staff in our history and know that any success we have achieved is as a result of the quality of the people we employ. We are proud that ILS enjoys a healthy reputation amongst our clients and peers. ILS’s Vision ILS seeks to be regarded as the best provider of Fiduciary Services by our clients, employees, competitors and other stakeholders. Working together as one team, we shall: Earn our clients loyalty and respect by listening to, understanding and meeting their needs Maximise the potential of our people and products Widen our global representation Broaden and develop markets by extending our professional client base ILS’s Strategy The Vision sets out our objectives, whilst the Strategy details ways to achieve that vision. Working together as one team We want our staff to enjoy working for ILS and have pride in what they do and who they work for. We want to share the aims of the company with our staff and for them to understand how and why we have these aims and how we intend to achieve them. We can achieve this by: Communicating effectively with our staff, offices and partners Sharing information through our Intranet and creating a shared knowledge base Information must pass in both directions Management needs to provide effective and inspired leadership, - by coaching, motivating, communicating and leading by example. Feedback to staff (good and bad) is considered essential. The leadership of the group should speak with one voice, and be accountable for the results of the group. We want to involve employees in the company’s successes and to encourage loyalty and trust within a stimulating environment. Earn our clients’ loyalty and respect by listening to, understanding and meeting their needs Satisfied clients who continue to increase the amount of business they do with us and who recommend us to other potential clients are the best way of growing our business. So that we can better understand our clients’ needs we intend to do some or all of the following: Undertake a client survey Hold in-house seminars for professional clients Increase the frequency of our contact with our professional clients Identify and meet our clients’ requirements through research and innovation thus making our products more relevant to more professional clients. Create the best fiduciary web site and ensure that we are easy to find and responsive to enquiries. Constantly attend to quality of delivery of product and service as key elements in client satisfaction. Maximise the potential of our people and products The key to the success of ILS lies in the quality of our people and their delivery of excellent service to our clients. We therefore need to promote an environment in which we are able to recruit and retain the best people available. As the solutions that we provide to our clients become more complex we want to encourage our staff to improve their skills and create an environment where this is possible. We acknowledge the importance of the following issues: Recognition of individual contributions and encouragement of initiative. Acquisition within the Group of the relevant skills through recruitment, training and professional development. Encouragement of loyalty and trust and the provision of a stimulating working environment. Widen our global representation We want to expand ILS’s global representation and exert greater control of ILS’s name and brand image than we have previously done. Geographical areas of significant wealth creation are likely to be our major growth markets in the short to medium term. We have identified five key growth areas but will constantly review the development of new markets. We will open new ILS offices which may have differing ownership structures and we will consider mergers and acquisitions to achieve our objectives. Creation of strategic alliances with others will also be an important part of this objective Broaden and develop markets by extending our professional client base We acknowledge that professional clients are the mainstay of our client base and we intend for this to remain the case. Though we always welcome private clients, the majority of our resources will be concentrated in attracting more professional clients and servicing their needs. Some of the ways in which we aim to achieve this are: Meeting clients through our corporate hospitality events Providing more speakers at professional conferences Holding in-house seminars for professional clients Widening the dissemination of the Dossier – our electronic newsletter To be regarded as the best provider of fiduciary services by our clients, employees, competitors and other stakeholders These are the factors we consider important to perception of the ILS Group – Clients – Excellent quality of service; speed of response; effective, clear communication; expertise; reliability; professional integrity; value for money. Employees – Working in a trusting environment; feeling valued; having their contributions properly recognised; having pride in the company; satisfaction and accomplishment from their work; pleasant and stimulating working environment; working with stimulating leaders who they respect. Competitors – Measured by ILS being worthy of benchmarking and emulation by our competitors; the ease of acquisition of staff and clients from our competitors; perceived success. We wish to maintain an aggressive market stance against our competitors whilst maintaining good relationships. Other Stakeholders – Regulatory bodies, trade and membership associations, Governmental institutions, suppliers etc.