Derwent Living has traditionally followed business plans in three-year cycles, but with the social housing sector facing pressure from welfare reform and an increased exposure to risk, the new business plan will be a more flexible, far-reaching document that will last ten years.
The 2012-2014 plan enabled the business to consolidate its strong financial position. Derwent Living increased its turnover during a six year period to 2013/14 from £31 million to more than £60 million and raised customer satisfaction to over 90% during that time.
By diversifying its operations and using surpluses from commercial operations, Derwent Living was able to develop more than 1500 properties and this robust new business plan will see the organisation continue this positive trend well in to 2015 and beyond.
Flexibility for the future
Outlined in its ten-year plan is the need to build 200 affordable homes for those most in need every year for the next three years. With the UK in the midst of a national housing crisis, it’s more important than ever that Derwent Living is able to deliver on building to expand its social housing stock.
Key changes to the current welfare system, in the form of Universal Credit, are expected to impact the business significantly. By putting processes in place to maintain income streams and encouraging manoeuvrability within the new business plan, Derwent Living can sustain its resilient position as a company.
The new business plan focuses on several key areas, one of which is technology. By taking a proactive approach to new, shifting technologies, Derwent Living intends to push forward with automation of key business processes in order to encourage increased engagement with customers.
You can download a copy of the business plan by following the link Business Plan 2015-2025.