Value for Money
At THCH we are committed to delivering and demonstrating Value for Money in all that we do. The Board take a lead on this, and they have the commitment of the Strategic Management Team and all staff to achieve it. This hasn’t always been something that we’ve been able to demonstrate, however, the roll out of our Fit for the Future programme in 2016/17 has brought Value for Money to the fore of what we do.
In late 2016/17 we introduced three new Corporate Objectives. These are:
- Getting back to good
- Unlocking our potential, and
- Growth for the future
An action plan has been developed to help ensure we meet these objectives going forward and each of the actions has a specific Value for Money target.
We recognise that we have more we can do to fully embed a Value for Money culture at THCH. We have, however, made improvements in 2016/17 and we are embracing changes that will mean we deliver progress in the future. We have extended our sources of bench marking and adopted the Sector Scorecard. We now benchmark with a peer group of similar organisations through Housemark and by comparing ourselves to Placeshapers, a network of more than 100 community based housing organisations.
Our Value for Money Strategy will now involve us in:
- Creating capacity by maximizing our income and minimizing our cost base where possible.
- Using our assets to optimize options for delivering our Corporate Objectives.
- Prioritising our resources in consultation with our customers.
- Having a culture where our staff strive for an efficient business that delivers services our residents want.
A copy of our current Value for Money statement can be downloaded here.