IMRF’s 2023-2025 Strategic Plan has been approved by the IMRF Board of Trustees. IMRF first implemented its formal strategic planning process in 2005. Strategic planning is ongoing, with a formal 12-step process that results in a re-examined and adjusted version of the strategic plan being released every 3 years.
Why Does IMRF Engage in Strategic Planning?
IMRF’s Strategic Plan is an actionable way to reach our goals. The strategic plan provides specific targets we can aspire to over the next three years and a process for continuous evaluation and course correction when needed. Reviewing our results and comparing them to our plan helps ensure that the right policies and procedures continue and those that are not benefiting IMRF are ceased or adjusted.
How Does IMRF’s Strategic Plan Benefit its Members, Employers, and Staff?
IMRF’s Strategic Plan creates a single, forward-focused vision that helps align expectations and unify the efforts of our staff, IMRF employers, active members, and retirees. It helps ensure that everyone is working towards the same goals.
Each of the four key result areas of IMRF’s Strategic Plan (Financial Health, Customer Engagement, Workforce Engagement, and Operational Excellence) impacts and helps bolster the other 3 key result areas, and all of them together benefit our members, retirees, employers, and staff in multiple ways.
“Workforce engagement strategies empower and educate staff enabling them to be more effective in executing the customer engagement strategies and operational excellence strategies required to provide high quality service to our members, retirees, and employers,” said Michael Everett, IMRF Organizational Excellence Officer. “Workforce engagement strategies also enable IMRF to attract and retain highly skilled, successful investment services and financial services staff members to execute the strategies that ensure the financial health of the organization, which then guarantees the financial security of our members and retirees.”
What’s New in the 2023-2025 Strategic Plan?
A major focus of our efforts will continue to be the implementation of the Horizon Project and our Web-Centric Customer Service Delivery Model. In addition to those two ongoing priorities, here are some of the new or adjusted key strategies added to the 2023-2025 Strategic Plan:
Financial Health -
- Expand efficient utilization of Internal Equity Management
- Evaluate internal tools and technology for investments operations
Customer Engagement -
- Implement new Contact Center Model
- Expand development of online education programs
Workforce Engagement -
- Evaluate “How We Work” as an organization
- Enhance the learning and development experience for staff
Operational Excellence -
- Develop and implement an Enterprise Risk Management program
- Expand use of analytical tools for a complete view of Member and Employer needs
For more information about IMRF’s 2023-2025 Strategic Plan, click here.
