Corporate Strategy & Future 50
Through our Corporate Strategy, we have set ourselves ambitious targets. These are:
1) 90% resident satisfaction
We will work collectively across the business to increase our resident satisfaction through improved repairs and maintenance services along with more digital, easy to use and simple self-service options and a better understanding of individual resident’s needs. Residents will be at the front and centre of our business.
2) Develop 1, 200 homes by 2030
We will deliver 1,200 new homes over the next 10 years.
3) Implement an Active Asset Management strategy
We will implement an Active Asset Management strategy which will help reduce occupancy costs for our residents and increase our development capacity.
4) Implement a Cost Per Unit strategy
We will replace the previous Operating Margin Target strategy with a Cost Per Unit strategy. This will make it easier to track and forecast costs.
5) Highly engaged colleagues
Our new People and Culture strategy will help us build a high performing and engaged workforce with a focus on Equality, Diversity and Inclusion. We will also create a more agile and modern workplace.
Corporate Strategy Addendum
To say 2020 was a year like no other, would be an understatement. There was Brexit, and the global COVID-19 pandemic created unprecedented challenges for our residents, local community, and business. Additionally, since our Corporate Strategy 2018- 23 was written, we now know we must carry out important unforeseen works on our properties related to the national cladding programme. Despite these challenges, we have continued to develop successfully, have revised our financial business plan, and recently have been able to strengthen the quality of our key decision-making data. Consequently, we have needed to revise our Corporate Strategy and Strategic Objectives to ensure we continue to strike the right balance of ambition, achievability, and stability moving ahead. Learn more here.
In isolation, these 5 core targets are achievable. But together and simultaneously, they are ambitious and are more stretching. We’re committed to service excellence and believe that achieving our objectives is worth the hard work required. Anything less than brilliant services and a fantastic place to work is not good enough for us.
To deliver the changes that are needed in service quality, growth and financial performance we need to start doing things differently, putting our residents at the heart of what we do; whilst delivering social value through building more homes.
The most significant element in our five year plan is changing the way we do things as a business – our customer insight, our organisational design, our processes, our people and culture, our data and our technology
To achieve our corporate strategy, we can’t stand still. To get there, we have introduced the Future 50 programme. Future 50 is the vehicle that will position us in a way we can achieve our corporate strategy – by transforming the whole organisation.
The Future 50 programme was launched at our annual staff conference in June 2018. In order to manage our process of complete business transformation, we segmented our Future 50 programme into three core stages;
Diagnose > Design > Deliver
Diagnose (June 2018 to May 2019)
The Diagnose process gave us a consolidated overview of where we are as business at present. It reviewed the six key pillars that drive our organisation;
1. Our Customer Insight
2. Our Organisational Design
3. Our Processes
4. Our People and Culture
5. Our Data
6. Our Technology
The Diagnose process culminated in a series of recommendations which have informed our next phase of Future 50, design.
Design (May 2019 to September 2019)
The design stage comes in two components, firstly, the design of a new business blue print to create a Target Operating Model (TOM) - in the context of our Corporate Strategy, Diagnose stage findings and sector benchmarking. Following and building on this, design will also create a series of individual projects to get us from where we are to where we want to be.
Deliver - planning and implementation (September 2019 onwards)
Deliver is the final stage of the process, where the ‘rubber hits the road’ and we deliver the projects and step changes into the business.
This three-step process will see us through Future 50 and ultimately result in the delivery of our corporate strategic objectives by 2023 (2028 for development).
In January 2019, we appointed our Director for Innovation to lead Future 50. The newly created innovation directorate has a mix of Project Management Specialists and Change Agents from within the business. We are also working with a consultancy specialised in business transformation to ensure that we are seeing beyond our own horizons and to act as a critical friend.