Our Corporate Plan
Our Vision
Our new Vision has an increased focus on providing an excellent service for our customers and on safety and sustainability. This better reflects our ambitions as an organisation.
Our Corporate Plan
Our new Corporate Plan is ambitious and challenging. It sets out our objectives for the next five years.
Our immediate priority is to make sure that the homes we provide are safe and that our services are of an excellent standard. The need for new homes has never been greater, and we plan to continue to build affordable homes, working in new partnerships to help us achieve our targets. This plan also marks the start of our campaign to be a sustainable, zero carbon business.
Our operating environment
The impact of COVID-19 has forced us to change the way we work, and has also had wider economic impact that is likely to affect many of our residents.
We must continue to be financially prudent in order to weather the potentially volatile economic outlook.
Serving customers
We have set ourselves ambitious targets for customer satisfaction by the end of the corporate plan period, including:
- 88% customer satisfaction for those who rent their home from us
- 65% customer satisfaction for this who are shared owners or leaseholders
- 85% customer satisfaction with our repairs service.
Our plan sets out our commitment to engaging purposefully with our customers, listening and acting on their views, and involving them in what we do. We will make sure that it is easier and more convenient to contact us and our services are delivered reliably and to an excellent standard.
Building new homes
We are committed to providing homes to people who need them, and will continue to build new affordable homes within the limits of our financial capacity, with a focus in our core area of operation.
Our targets:
- 2,250 new homes handed over during the plan period
- 1,600 homes added to the development pipeline each
- a 50/50 mix between affordable rent and Low Cost Home Ownership over the plan period.
Safe and sustainable homes
We are committed to doing our job as a landlord to make sure our properties are safe and kept in good repair for customers. We plan to undertake a major investment programme in our existing homes so that we are taking the right actions to keep them in good condition and safe for residents and so that we reduce carbon emissions and other environmental harms.
Our targets:
- 100% compliance with health and safety regimes
- 100% compliance with Decent Homes regulatory requirements
- A detailed plan to achieve net zero carbon by 2050
- Starting a programme of works, with the aim of ensuring the majority of our stock reaches EPC C standard by 2030.
- Pilot projects to test how we can provide low and zero carbon sources of heating
- Compliance with new building safety regulatory system for high rise buildings
- Commit to an Environment Strategy to address climate change resilience, energy efficient and excellent management of waste and hazardous products.
Making the best use of our resources
Our key financial targets
Other measures
We want to attract, retain and develop employees with the knowledge, skills, values and behaviours we need as a business to deliver the vision for Paradigm’s future.
We will set targets for equality, diversity and inclusion across the business and continue to strive to provide an inclusive environment for customers, colleagues and stakeholders.
Our performance
Our performance against our Corporate Plan
As at March 2023:
Development: Initially targeting 2,250 homes in our five-year plan, the Board adjusted this to 1,950 homes in 22/23 to reflect the external economic challenges. Paradigm completed 446 new homes in 2022/23.
Customer satisfaction: Our Corporate Plan 2021-26 sets out objectives to achieve the following levels of customer satisfaction – 88% for those who rent their home from us, 65% for homeowners and 85% satisfaction with repairs. Performance on these measures has remained relatively stable.
Safe and sustainable homes: We achieved a 99.97% compliance rate with the Decent Homes Standard and attained 99.93% compliance in domestic gas, with 100% compliance in communal areas like gas, electrical, and Fire Risk Assessment (FRA). We increased the number of homes meeting Energy Performance Certificate (EPC) C rating to 73.3%.
Finances: Ongoing financial management, with gearing at 55.5%, operating margin at 35.7%, and maintenance costs per property at £1,709.
Our people: We achieved 2* Best Companies accreditation for 2023, up from 1* in 2022, and two years ahead of target. For detailed employee performance, refer to the People Strategy and our EDI report.