We have defined four strategic pillars which set a clear framework for our business objectives, performance targets and business planning.
The sustainability of our company is an essential part of being able to meet our customers’ needs. Our strategic thinking helps us to become a better organisation and ensure our long-term viability.
Click on the circles below within the 'our strategic framework' section to find out more about how we achieve our objectives in each area.
The way in which we deliver the Scheme is designed to maximise the value we provide to customers. We are commercial in our approach and ensure that we benchmark well to market best-practice.
We seek to preserve our relative credit rating with our robust approach to financial and risk management and through the flexibility of our pricing process. Our ratings are A+/A1 with stable/positive outlooks from Standard & Poor’s and Moody’s respectively.
The Group aims to retain a well-laddered debt maturity profile in order to effectively manage refinancing risk. Following bank and bond refinancing activities during the year, the average debt maturity profile increased by over 20% to 7.93 years.
We participate in an independent annual review of business culture, where we have significantly outperformed the ‘High-Performing Organisations’ benchmark. Employee engagement is 10% higher than the benchmark.
We seek to create improved awareness and understanding of the Scheme proposition within our potential market. In doing so, we attract new customers to the Scheme.
Long-term sustainability is fundamental to the delivery of the other three strategic pillars. From a financial perspective we seek to ensure that we maintain a robust balance sheet and reserves base capable of tolerating market volatility, and that we secure longevity of funding on competitive terms capable of supporting our range of fleet expectations. This, in turn, allows stability of pricing through the economic cycle. We regard the enhancement of our reputation and the continuation of the support we enjoy across our stakeholder groups as pivotal to our sustained success.
We deliver by listening to our customers and ensuring that we meet their requirements. We target independently measured customer satisfaction of at least 92%.
We have successfully met our target of answering 80% of calls within 20 seconds for the last nine years.
Mobility is a priority to our customers – in the event of a breakdown our customers receive priority assistance, and with an average response time of 38.9 minutes during the last six months (compared with a KPI target of < 42 minutes), customers are quickly attended to and are mobile again.
We aim to maintain consistently excellent levels of customer service throughout the leasing proposition, and demonstrate disability expertise in our approach to our customers and in our role as an employer.
Understanding our customers is critical to our success. By listening and responding to their feedback, we are able to adapt our proposition and focus our resources on their needs. Our success is dependent on our ability to deliver a Scheme that meets our customers’ requirements and provides excellent service. Development of our disability expertise is fundamental to our success in understanding our customers and the delivery of our customer service aspirations
Since 2012 we have measured customers’ trust in the Motability ‘brand’. Trust is considered to be key in enabling current and potential customers to make an informed and confident choice on a mobility solution that meets their disability needs and, in turn, strengthens customer advocacy of the Scheme.
Whether customers decide to renew their business at the end of the lease is a key measure of our success in delivering affordability, choice and customer service.
During the year to September 2014 this was maintained at 92%, compared with a KPI target of 85%.
Existing customers are the Scheme’s biggest advocates, with over 98% saying that they would recommend the Scheme to others.
Through promoting greater understanding of the Scheme proposition, we seek to develop better-informed potential customers who are well positioned to evaluate its benefits. Fundamental to this is the loyalty and trust of our existing customers, with renewal rates being closely linked to our success in delivering sustained affordability and excellent customer service.
We aim to maintain the availability of at least 200 cars that are funded solely by the assignment of the customer’s disability allowance.
We benchmark ourselves using commercial contract hire quotations and aim to be at least 25% cheaper. These are usually unavailable to the general public and are likely to be less expensive than personal contract purchase quotations. Our economies of scale, operational efficiencies and a VAT concession deliver the majority of this differential.
Selling via our online sales channel, ‘mfldirect’, provides an effective, low-cost route to market which facilitates the management of our high volume of disposals, and also ensures a competitive sales environment through which to maximise our net return.
We provide a wide range of vehicles to our customers at competitive and affordable prices.
We believe that customers should be able to choose from a wide selection of vehicles. Within this offering we are committed to providing a range of affordable models which are suitable for our customers’ needs. To this end we seek to leverage our purchasing power and ensure that we manage our cost base on commercial terms – the aim being to provide value without compromising choice or quality.
Mike joined our executive team in June 2002 and was appointed CEO in September 2003.
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