Custom Growth Management Approach Delivers Results for Toyota Financial Services
Toyota Financial Services helps millions of Toyota customers drive the vehicle of their dreams, thanks to their flexible financing and leasing, comprehensive vehicle and payment protection plans, and well-rounded insurance offerings. Over the decades, they’ve established strong relationships with customers and dealers that inspire them to always strive for quality, convenience and consistency. One of their main goals is to deliver exceptional customer service that matches the exceptional quality of Toyota vehicles.
Rapid Growth Leads to Leadership Gap
Rapid growth may be a good problem to have, but it’s still a problem—and when financing plan and vehicle payment-protection provider Toyota Financial Services (TFS) grew from an eight-associate organization to a three-thousand-employee organization, with more than $81 billion in managed assets, the company felt every bit of the widening gap left in its leadership.
TFS needed a long-term growth management solution for building its leadership bench strength, and Linkage’s custom Accelerated Leadership Development Program (ALDP) was the perfect trainer.
Accelerated Leadership Training
The ALDP included a year-long curriculum for high-potential leaders to learn and apply critical leadership concepts—strategic thinking, change leadership, coaching, and cross-functional collaboration and influence—while also addressing key business initiatives in real time.
Part I: Training
Leaders kicked off their year with five intense days at the Global Institute for Leadership Development® (GILD). Beyond the standard Institute activities, TFS attendees followed a customized curriculum that included individual coaching sessions, among other things. After the Institute, they participated in Linkage workshops held on-site at TFS.
Part II: On the Job
Participants formed two action-learning teams to address a critical organizational challenge, including conducting a five-year market assessment, analyzing critical customer and dealer touch points, and recommending alternative work-style approaches for associates. Following Linkage-facilitated team meetings and interaction with key stakeholders, the teams presented their findings and recommendations to senior leadership.
Change in Culture Leads to Increased Happiness
Both teams’ recommendations resulted in numerous changes, including a popular more flexible workweek, a change that has measurably increased associate opinion scores and enhanced the company’s organizational culture, not to mention its reputation as a preferred employer. TFS is also testing feasibility for changes to streamlining communication to dealers and identifying innovative new products and services.
Linkage reassessed the performance of the program at the end of one year and found significant positive behavioral changes in TFS leaders. Two additional coaching sessions followed, resulting in a renewed development plan to reset individual goals for the future. TFS now continues the ALDP program on an ongoing basis.
By investing in its leaders as the leading force for growth management, TFS invested in its future as a whole. Participating leaders developed innovative new products, services, and business practices that have resulted in more satisfied employees, clients, and vendors. By continuing to invest in its leaders on an ongoing basis, TFS fosters an innovative, unique working environment and culture that produces enhanced results and a sustainable competitive edge.
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