HR Block 2010 Annual Report Download - page 9

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these requirements will be implemented, H&R Block’s tens of
thousands of tax preparers have met or exceeded these
requirements for years. As other independent preparers
struggle to meet these new requirements, we will be there to
help clients with their tax preparation and settlement prod-
uct needs.
n Digital: Our marketing efforts this past tax season led to a
25 percent increase in our website visits, but we did not con-
vert this growth into clients. We are redesigning our website
to ease navigation and improve conversion rates. In addition,
we will continue to enhance our products and invest in lead-
ership talent to drive improved results.
n RSM McGladrey: RSM McGladrey has global capabilities
and, together with McGladrey & Pullen, the independent
CPA firm that provides assurance services, is currently the
fifth largest source of assurance, tax and consulting services
in the United States. It is intensely focused on mid-sized
companies, but has the unique ability to scale up or down
from smaller, privately-owned companies to the Fortune
1000. With the renewal of its relationships with McGladrey &
Pullen and good work in reducing its cost structure, RSM
McGladrey is now well positioned to leverage its strengths to
grow revenues and margins.
Today’s difficult economic environment has presented chal-
lenges for the entire industry, but I am optimistic about our
position. As I lead this great company, my focus will be more
on improving our execution against a few impactful initiatives.
We will also have targeted alignment of responsibility, account-
ability, measurement and reward throughout our workforce.
Our passion to help each and every client during these tough
times is the primary reason I am confident that H&R Block will
be stronger than ever in the years ahead. Our size and finan-
cial strength, combined with a growing cost-conscious culture
will allow us to sustain the industry headwinds, improve our
value proposition, and make the right strategic choices for
profitable growth.
I want to thank our employees and franchise partners for
upholding our rich heritage by continuing to serve our clients
with commitment and conviction. And thank you for trusting us
with your investment in H&R Block.
Sincerely yours,
Alan M. Bennett
President & CEO, H&R Block, Inc.
H&R Block 2010 Annual Report n 7