The 19 to 23 September is housing week, with each day focusing on a different topic covering the challenges and future plans for the sector. Why not join us in the conversations on:
Monday: #HousingDay – connecting with communities- Tuesday: Health, care and community investment
- Wednesday: Leadership
- Thursday: Delivering in a new environment
- Friday: Looking to the future
We will be engaging in the conversation on Twitter, follow us on @IiE_Ltd
Why are Investors in Excellence involved?
The housing sector and registered providers in particular, have experienced significant changes over the last few years that has created an entirely new operating environment.
Boards and senior executives are encouraged to take a more ‘commercial’ approach to their business. However becoming more entrepreneurial is not without its problems. There are some exceptions, but in a sector that is traditionally not-for-profit and whose culture is based on strong social and ethical values, commercial skill sets within organisations have not been seen as critical up to now and are limited.
This changing dynamic of the sector carries with it increased risks and the sectors’ regulator, the Homes and Communities Agengy (HCA) is looking to Boards for further assurances in the absence of an inspection regime to provide that independent assessment. Regulation has changed and being able to evidence how good you are in business terms is becoming increasingly important in a more commercial and competitive marketplace.
The key in complying with housing regulation is the importance of sound governance. Co-regulation requires a new mind set and boards need to actively seek assurance that they are compliant to all the regulatory requirements.
Why Investors in Excellence?
It is Boards that have the responsibility for ensuring that their landlords meet the regulatory standards. This includes Boards ensuring they are clear about regulatory requirements and that they are compliant with them and produce all the necessary reports and statements e.g. VFM in an accurate and timely manner. They need to ensure that risk is well-covered and they have effective internal controls.
The sector should not underestimate the governments’ and the regulators’ interest in VFM – given the external operating environment VFM is seen as critical to the sector achieving its objectives (new supply being the governments primary objective), more so than diversification.
In summary Boards need to ensure they operate effectively; they need to establish clear relationships with staff, and actively seek and take expert advice in ensuring they can provide robust challenge to the Executive.
Our Standard:
- Supports the regulatory approach
- Covers both strategic and operational aspects of a business, bring the assessment of both under one umbrella standard
- Encourages the application of good business practice across the entire organisation whilst protecting the values of the sector,
- Enables comparison of performance in relation to business management good practice
- Through staff engagement leads to developing a culture of continuous improvement and acceptance of change.
Meet the challenges head on
If you’re looking to meet these challenges head on then Judy Hart invites you to get in touch. “We bring the clarity, capacity and capability you need to face these challenging times”
Call us now on +44 (0)121 746 3150 or email iie@investorsinexcellence.com to find out more. We’re also attending NHF Housing Exhibition 2016, book a one-to-one with us there.