GOAL A
Rebuild and strengthen Board Governance and Executive Leadership; create clear and effective lines of authority, responsibility and accountability, and align By-Laws and Shareholder Agreement to serve the best interests of Locations. |
ACTION A.1:
Identify leaders with competency, place them in right positions, initiate support to increase their success, and evaluate their effectiveness. | In Progress | Ongoing | Name/Date of Hire | CEO |
ACTION A.2:
Develop a succession plan for executive leaders and conduct proper vetting and buy-in by relevant stakeholders. |
01/01/22 to 01/01/2023 | In Progress | Name/Date of Hire | BOD |
ACTION A.3:
Create an effective, simplified, and well-defined corporate structure with clear organizational charts and a staff classification system to facilitate oversight and accountability.
| 01/01/22/
03/01/23 | In Progress | Date of Approval | BOD
|
ACTION A.4:
Review and revise By-Laws and related governance policies to ensure clarity and proper adherence to authority, responsibility, and accountability. | In Progress
07/01/23 | Under Review | Completion Dates
| BOD |
ACTION A.5:
Review and revise shareholder agreement, including the consideration of an option for current and new personnel to purchase company stocks. | In process/
03/01/23 | In Draft Form | . Completion Dates | BOD |
ACTION A.6:
Implement and evaluate the LSP periodically to ensure its effectiveness in decision making and operational proficiency with revisions as necessary. | 01/01/22
Ongoing | Approved by BOD on 12/14/2021
Being Implemented | Quarterly Review in 2023 | BOD |
ACTION A.7:
Set and evaluate annual performance targets for key operating units such as Sales, Property Management, Premier, Compass, and selected projects. | In process/
02/01/23 | Discussed with Sales
and PMD heads | Completion Date | CEO |
| STRATEGIC GOALS AND ACTIONS | START/
COMPLETION
DATE | CURRENT
STATUS | OUTCOME
MEASURES | RESPONSIBLE
OFFICE |
GOAL B
Develop a collaborative company culture centered around our Core Values with a focus on professional competence, excellence and relationships.
|
ACTION B.1:
Develop communication plan to increase awareness of core values and evaluate their effectiveness. | On going | Plan needs to be developed | * Date of Plan Implementation
* Feedback on Core Values Practices | CAO |
ACTION B.2:
Ensure that each PAM will have an opportunity to be briefed thoroughly and clearly on roles, responsibilities, discretion in confidential matters, and performance expectations in order to be productive. | 03/01/22/
05/01/22 | Partners Committee Established 01/01/2022 | All Partners briefed | COO |
ACTION B.3:
Focus upon retention and teach about respecting each other and others by developing an effective training and mentorship program for partners, agents, and employees, including one-to-one coaching.
| 03/01/22/
12/31/22 | Coaching Program Established | Evaluation plan | COO |
ACTION B.4:
Develop a comprehensive recruitment process, including its organization, realistic recruitment goals, and action plans. | 07/01/22
12/31/22 | In progress | | CEO |
ACTION B.5:
Encourage the Board of Directors and Executives to provide open and clear communications to all stakeholders and create a climate of transparency where individuals will be open and authentic with each other and where opinions and constructive insights will be shared willingly. | Ongoing | Policy Statement needs to be written | Policy Statement | CEO |
ACTION B.6:
Build and strengthen relationships with each other and with others by encouraging and enhancing interdepartmental collaboration, communication, and fellowship, and by providing more company activities such as internal or external team-building events and in- person events and outings. | Ongoing | Activities held on demand | Activities completed | CAO |
ACTION B.7:
Establish an “on-boarding” program for all new personnel to welcome them into our company, including sessions focusing upon company overview, policy orientation, and on-the-job training, among others. | 05/01/22/
Ongoing | Need to review and revise Policy | Policy revised date and Implementation | CAO |
| STRATEGIC GOALS AND ACTIONS | START/
COMPLETION
DATE | CURRENT
STATUS | OUTCOME
MEASURES | RESPONSIBLE
OFFICE |
GOAL C
Create a companywide training and incentive program to improve the core competencies of our professionals, and attract and retain talent.
|
ACTION C.1:
Develop an annual company-wide training program to encourage consistent alignment, coordination, and integration of programs, including an initial pilot coaching program for coaches and agents that will be based upon performance incentives. | 06/01/22/
03/01/23 | Pilot coaching program instituted
Working on training plan | Date of Plan and Implementation | CAO |
ACTION C.2:
Develop a company-wide training incentive structure for encouraging skills training, task achievement, and career progression. | 02/01/22/
03/01/23
| Need to review current and plan new | Date of incentive Plan | CAO |
ACTION C.3:
Identify, seek, and hire relevant and competent trainers and instructor from both internal and external sources to teach real estate and business education courses and training programs. | 03/01/22/
Ongoing | On hold | Training and Development Date of Hire | CAO |
ACTION C.4:
Provide leadership training throughout all levels, including mentorship, leadership and management development, and vision alignment, with clear goals and outcomes. | 05/01/22
12/31/22 | In Progress | Leadership Development Plan Date and Implementation | CEO |
ACTION C.5:
Plan and provide motivational programs to inspire everyone to develop a positive mindset and seek improvements in self-development, skills, and task achievement on a regular basis. | 05/01/22
| On Hold | Date of Implementation | CAO |
ACTION C.6:
Provide “on-line” and “on-demand” video training classes to leverage our technology and improve the skills of our professionals. | 05/01/22
| On Hold | Date of Implementation | CAO |
ACTION C.7:
Encourage agents to pursue agent education and provide incentives for them to obtain designations such as pre-licensing, training certificates, Broker’s license, CRS, and GRI, among others. | 05/01/22
| On Hold | Date of Implementation | CAO |
| STRATEGIC GOALS AND ACTIONS | START/
COMPLETION
DATE | CURRENT
STATUS | OUTCOME
MEASURES | RESPONSIBLE
OFFICE |
GOAL D
Strengthen relationships in our industry and local communities, and enhance our brand identity through our mission, strategic partnerships and our non-profit arm, the Locations Foundation.
|
ACTION D.1:
Provide more visibility for our company and the Locations Foundation through traditional media, social media, targeted community efforts, charitable participation, and volunteering activities. | 01/01/22
Ongoing | Waiting on Media Plan | Date of Implementation of Media Plan | CAO |
ACTION D.2:
Develop strategic partnerships to strengthen our identity and positioning in Hawaii by working with non-profit and profit organizations, State and County governments, and potential joint venture companies here and abroad, addressing such issues as affordable housing, senior citizens’ living, and Hawaiian culture- based developments, to name a few. | 01/01/22
Ongoing | Continuous exploration of opportunities | Date of Partnership | CEO |
ACTION D.3:
Encourage personnel to engage in professional associations (local, national, international), community organizations, and non-profit organizations by participating in speaking engagements and panel discussions, and consider establishing a business roundtable discussion series hosted by Locations. | Ongoing | On hold | Activities completed | CEO |
ACTION D.4:
Review our Locations Foundation to strengthen its mission and charitable model and consider receiving contributions and participation from external individuals and organizations. | 05/01/22
03/31/23 | Needs Review | Review Policy Date | Locations Foundation BOD |
ACTION D.5:
Provide more opportunities for Locations and its Foundation to contribute to various causes, including the use of proceeds from Locations events such as a sales contest and through different venues such as a rooftop VIP club. | 05/01/22
03/31/23
| Needs Review | Date of Activities | CAO |
ACTION D.6:
Develop Locations Foundation website. | 01/01/22
01/31/23 | On hold | Date of Website online | Locations Foundation BOD |
| STRATEGIC GOALS AND ACTIONS | START/
COMPLETION
DATE | CURRENT
STATUS | OUTCOME
MEASURES | RESPONSIBLE
OFFICE |
GOAL E
Ensure Resco’s financial Integrity and security through budgetary and financial benchmarks that reflect performance-based productivity.
|
ACTION E.1:
Development of an Annual Stratetgic Plan identifying financial initiatives and strategies for RESCO and affiliates. | 12/01/22 | In Progress | | CFO |
ACTION E.2:
Prepare an Annual Business Plan and Operating Budget aligned with the Annual Financial Strategic Plan and measure key financial performance indicators (KFPI).TION E.
| 12/01/22 | In Progress | | CFO |
ACTION E.3:
Work with key functional disciplines and affiliates to establish strategies and financial goals that support RESCO's Annual Business Plan | 12/01/22 | In Progress | | CFO |
ACTION E.4:
Perform quarterly reviews with key functional disciplines and Affiliates to measure performance against Plan/Budget | 12/01/22 | In Progress | | CFO |
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