accord_fs_2020_JD_FINAL | Page 18

16 | Accord Housing Association

How Accord Performs Against its Own Targets

Value for money is embedded within our Board approved business plan , with each corporate objective being linked to one of the four key strategic objectives in our Value for Money Strategy . Corporate objectives are translated into operational action through a suite of key performance indicators which are overseen by the Board and are subject to regular scrutiny by the Executive Management Team and committees ; agreeing actions where necessary to bring performance back in line with agreed targets . Board also receives an additional layer of assurance over the organisation ’ s performance through an annual summary of corporate objectives and business plan targets .

When setting corporate objectives and monitoring performance against agreed performance indicators and targets the Board remains cognisant of the resource commitment to various activities and continues to seek assurance of the opportunity cost of pursuing / not pursuing alternative delivery models . The table below summarises the suite of key performance indicators aligned to demonstrating value for money in the delivery of our core operating activities and shows both the performance against the agreed target for the year and a comparison against the prior year ’ s performance .

All performance , whether on target or not , receive regular review by the Board and Executive Management Team . Board oversees an annual review and approves future forecasts / targets prior to implementation . The criteria for setting these targets is to ensure they balance being challenging and stretching whilst also being achievable and realistic and therefore demonstrate value for money .

Value for Money Key Performance Indicator

Customer satisfaction - overall 83 % 80 % 82 % 90 % 88 % 92 % 88 % Customer satisfaction - repairs 90 % 87 % 97 % 90 % 87 % 97 % 90 % Repairs completed 1st visit 85 % 86 % 97 % 85 % 86 % 97 % 81 %

Routine repairs completion time ( ave days ) 7 12 12 7 11 9 11

Emergency / out of hours completion time ( ave hours ) 2 1.49 2.39 2 1.27 2.29 n / a

Properties with a valid gas servicing certificate 100 % 100 % 100 % 100 % 100 % 100 % 100 %

Properties meeting Decent Homes Standard 100 % 100 % 100 % 100 % 100 % 100 % n / a

Time to re-let empty properties ( ave days ) 12 38 67 12 22 53 25 Current tenant rent arrears 2.9 % 3.0 % 3.0 % 2.1 % 1.7 % 1.9 % 3 %

Rent collection as % of rent collectable ( current ) 102 % 102 % 101 % 102 % 105 % 101 % 100 %

Rent collection as % of rent collectable ( former ) 15 % 13 % 21 % 15 % 69 % 88 % n / a

Average employee sickness ( days ) 10.4 9.8 7.4 11.3 17.3 14.0 9.4

Overall performance for the year was good and whilst not all targets were met , performance improved across a number of areas . We are pleased that our rent collection levels have held up despite the challenges of Welfare Benefit Reform and in particular the continued roll-out of Universal Credit . We implemented a Board-approved voids improvement plan last year focussed on improving our re-let process having identified that improvements needed to be made and have made significant progress against this with care properties now being let within target and general needs properties now being let in a substantially reduced period of time . We continue to review and refine this process even through the recent challenges presented by Covid-19 and are confident that further improvement will be made during 2020-21 .