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28/05/2019

R3’s Strategic Plan – Taking Us to 2023

Over the last year, you will have heard a lot from R3 about our strategic review and the changes we’re making as an organisation to make sure we continue to deliver value for our members. We’re really pleased to say that, as part of our review, we’ve now published R3’s new Strategic Plan – Taking Us to 2023.

You can read the plan here.

R3 turns 30 next year, and this plan will help us put in place the foundations to support our members over the next 30 years.

Our plan sets out how we’ll make sure we represent everyone in our profession, whether they’re a licensed insolvency practitioner, a lender, a lawyer, a restructuring expert, or anyone else; whether they’re working in a global practice or running their own business; whether they have ten years’ experience or ten days’.

The plan sets out how we will ensure R3 is a thriving organisation ready to help the profession build one community, have one place to learn throughout their career journey, speak with one voice, and develop and share innovative ways of supporting the UK’s businesses and individuals.

We’ve put together this plan in close consultation with individuals and practices inside and outside the profession, and inside and outside of R3’s membership. Its development has been a really collaborative project, and we’re really excited to share it with you.

Two copies of R3's Strategic Plan

The Plan – Purpose & Vision

An important element of our plan is a redefined purpose and vision for R3. These will form the foundations of R3’s work, and are designed to clearly capture the reasons why R3 exists, and what we’re striving to achieve in future. Everything we do over the next three years – and beyond – will be tied back to these two statements.

R3’s Purpose

Members of the insolvency and restructuring profession protect and restore value at all levels of the UK’s economy. Their expertise promotes economic regeneration, resolves financial distress for businesses and individuals, saves jobs, and creates the confidence and public trust which underpin trading, lending and investment.

R3 protects and promotes the environment and strong restructuring and insolvency framework required to enable our members to fulfil their vital role in the economy and in society.

The R3 vision is to be...

… The thriving, inclusive organisation at the heart of the UK’s insolvency and restructuring profession. We are the association which embraces the entire community of professionals within the UK restructuring and insolvency world, whatever the size of their practice, their experience or their specialism. We play a leading role in ensuring the UK remains a global centre for resolving financial distress, promoting economic regeneration, and maintaining integrity in our framework.

The Plan – Pillars

Standing on the foundations of our restated purpose and vision are five key themes, which we have called ‘pillars’. These pillars will support the different elements of our plan. Our pillars are: community; voice; learning; innovation and insight; and building a thriving organisation.

Our community pillar will underpin our work to build a broad, diverse, expanded and active membership base, and will make sure R3 is the home for the insolvency and restructuring community.

Our voice pillar is designed to cement and define R3’s role as the collective voice of the restructuring and insolvency profession, actively promoting and protecting the value of our members’ work.

Our learning pillar will guide our work to continue to deliver practical educational and technical support, delivered by the profession for the profession, spanning disciplines and the length of a member’s career.

Our innovation and insight pillar will ensure we take the lead in helping to shape the future of our profession, and to initiate innovation and thought leadership.

Of course, we can’t deliver the first four pillars unless we’re a thriving organisation, and our plan also sets out the steps we’ll be taking to make sure this is the case.

What’s Next?

Our strategic plan is a dynamic one. We’ve set out our purpose, vision, and the pillars underpinning it with a statement of our milestones and timelines covering what we want to achieve by the end of each of the next three years. But we’ll also be adapting our plans, objectives, and activities to match the world around us as time moves on.

We’ll also be publishing details of more specific tasks and activities, based on this plan.

We can’t wait to hear what you think about our plan, so please do take a look at the plan document on our website. R3 is your membership association. This plan is your plan. Just as its development was a collaborative process, so will its implementation require R3 and members to work together. The R3 team is really looking forward to delivering it alongside you.

Pages from R3's Strategic Plan

Notes to editors:

  • R3 is the trade body for Insolvency Professionals and represents the UK’s Insolvency Practitioners.

  • R3 comments on a wide variety of personal and corporate insolvency issues. Contact the press office, or see www.r3.org.uk for further information.

  • R3 promotes best practice for professionals working with financially troubled individuals and businesses; all R3 members are regulated by recognised professional bodies
     
  • R3 stands for 'Rescue, Recovery, and Renewal' and is also known as the Association of Business Recovery Professionals.