Value for money
At THCH we are committed to delivering and demonstrating Value for Money (VFM) in all that we do in order to deliver the best possible services to our residents.
As a registered social housing provider, we are required to comply with the Regulator for Social Housing's Value for Money Standard which is designed to ensure that a provider is making the best use of the resources that it has to meet its objectives.
Board members take a lead on this and they have the full commitment of the Management Team and all staff to achieve it.
We have both a Board Champion (Jennifer Simnett) and an Executive Director Champion (David Joyce) reflecting the priority as an organisation that we place on VFM.
We recognise that we must continue to prioritise VFM and that it is an important element of the culture at THCH.
We have made improvements each year since 2016/17 in embedding VFM and have embraced changes that will mean we will continue to deliver progress in the future. We have extended our sources of benchmarking 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:
- Having a culture where staff strive for an efficient business that delivers good quality services for customers.
- Creating capacity by maximising income and minimising cost base where possible.
- Using our assets and resources to optimise options for delivering Corporate Objectives.
- Prioritising resources based on customer insight and consultation.
A copy of our 2019-22 Value for Money Strategy can be downloaded here: Value for Money Strategy.
We welcome any feedback from our stakeholders on our VFM performance or targets. If you have any comments then please contact our Executive Team VFM Champion, Helen Neal at helen.neal@thch.org.uk.