Registered providers
shall… How Accord delivers against these requirements
“Understand the return
on its assets, and have a
strategy for optimising the
future returns on assets –
including rigorous appraisal
of all potential options for
improving VFM including
the potential benefits in
alternative delivery models
- measured against the
organisation’s purpose and
objectives.” n In 2016 the Board took a considered decision to simplify the group structure. This process
completed on 31 March 2017 and gives Accord the best platform to maximise return on its
assets. For example the transfer of all social housing assets into the enlarged Accord HA
released c£80m of balance sheet capacity.
n As part of the simplification the Board was able to consider an alternative delivery model
for governance whereby arrangements were also simplified and further enhanced to
bolster the decision-making process.
n The Asset Management and Stock Disposal strategy ensures stock disposal decisions are
made on an informed and strategic basis as part of active asset management to achieve
maximum return on investment. Considerations include high value, high investment, low
yield, high tenancy turnover and location.
n Accord’s approach to active asset management ensures that major investment into the
stock portfolio is delivered in a way that ensures favourable long-term return on assets.
n Investment and disposal decisions are informed by intelligence from Accord’s comprehensive
Register of Assets and Liabilities. This Register has been externally validated.
n Satisfied customers are considered to be a good measure of resources being invested
appropriately. Accord undertakes a STAR survey to understand customer satisfaction
levels and develop and enhance products and services. Satisfaction levels increased from
75.6% in 2015 to 81% in 2016.
n External benchmarking agencies (e.g. HouseMark) and internal bespoke benchmarking
exercises are used to assess peer performance. The Board is furnished with performance
information including unit cost analysis to agree performance improvement measures.
n As part of Accord’s commitment to financially sustainable Care and Support services
around 50% of operating costs are invested in people through payroll. The return on this
investment is measured through a number of performance indicators including attrition
and sickness absence, twice-yearly performance appraisal and colleague engagement.
n Accord’s organisation wide review of commercial property has resulted in the overall
estate being reduced through a process of office consolidation resulting in delivery
of modern working practices and increased customer contact. Two offices have been
disposed of and the review is on-going.
n Accord’s Board has recently approved a major expansion programme for the existing
direct labour organisation (DLO) and post-implementation a largely in-sourced team will
deliver the majority of Accord’s repairs and maintenance requirements driving significant
cost efficiency, a demonstrable increased return on investment and an expected
improvement in customer satisfaction when compared to out-sourced services.
Financial Statements 2017
23