H&R Block Builds on Momentum to Accelerate its Transformation Strategy, Block Horizons 2025
H&R Block announced organizational changes to enhance its transformation strategy, Block Horizons 2025, following strong performance in the 2021 tax season, achieving significant market share gains. The five-year strategy focuses on three imperatives: small business, financial products, and Global Consumer Tax. The restructuring includes nearly 90 promotions and the introduction of a mobile-first financial solution. These initiatives aim to improve client experiences and maximize shareholder value.
- Achieved the largest market share gains in over a decade during the 2021 tax season.
- Initiated a new transformation strategy, Block Horizons 2025, focusing on small business, financial products, and consumer tax.
- Restructured teams resulting in nearly 90 promotions, enhancing agility and innovation.
- Fewer than 90 roles were eliminated during the restructuring.
Company announces changes across the organization; aligns business with three strategic imperatives
KANSAS CITY, Mo., June 10, 2021 (GLOBE NEWSWIRE) -- Following strong performance in the 2021 tax season, with its largest market share gains in more than a decade, H&R Block (NYSE: HRB) is announcing changes across the company to build upon the momentum and accelerate its transformation strategy, Block Horizons 2025.
“This past tax season, people turned to H&R Block for expertise and care that we deliver through digital solutions and human help,” said Jeff Jones, president and CEO of H&R Block. “Our results demonstrate that what we’re creating through our Block Horizons transformation strategy is resonating with consumers and small business owners. The new changes being announced today will continue to enhance what we can deliver for our customers and maximize shareholder value.”
Company Aligns with Three Strategic Imperatives
The company’s five-year growth and transformation strategy focuses on three imperatives: small business, financial products, and Block experience, H&R Block’s new approach to consumer tax. These imperatives form the foundation of how the company will align functions: Small Business, Financial Services, and Global Consumer Tax.
| The company’s Small Business function will focus on small business tax, as well as expanding its payroll and bookkeeping services for small business owners. | |
| Financial Services will develop a mobile-first solution that inspires financial confidence for consumers and helps ease their financial burden. | |
| Global Consumer Tax will consolidate all consumer tax and service delivery functions, including the company’s expert-prepared assisted tax solutions, do-it-yourself (DIY) tax offerings, and its international and expat business. |
Restructuring Teams will Strengthen its Connected Culture
The company is also restructuring its teams to ensure enhanced agility. The new company-wide structure will efficiently deliver new client experiences, allow for prudent investments in strategic growth areas, and create a more innovative and agile organization. Changes resulted in nearly 90 promotions, and new and expanded roles within the company, while fewer than 90 roles were eliminated.
About H&R Block
H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial products, and small business solutions. The company blends digital innovation with the human expertise and care of its associates and franchisees as it helps people get the best outcome at tax time, and better manage and access their money year-round. Through Block Advisors and Wave, the company helps small business owners thrive with innovative products like Wave Money, a small business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically. For more information, visit H&R Block News or follow @HRBlockNews on Twitter.
| For further information | |||||
| Investor Relations: | Colby Brown | | | 816-854-4559 | | | colby.brown@hrblock.com |
| Michaella Gallina | | | 816-854-3022 | | | michaella.gallina@hrblock.com | |
| Media Relations: | Angela Davied | | | 816-854-5798 | | | angela.davied@hrblock.com |
FAQ
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