Our objectives and KPIs | The Crown Estate

Our objectives and KPIs

Our four strategic objectives:

Actively manage our assets to drive sustainable outperformance against our commercial targets

We have two key commercial targets, agreed with the Treasury, which underpin our strategy:

  • to increase our net revenue profit at an agreed rate, measured on a three-year rolling basis
  • to outperform our MSCI bespoke total return benchmark on a three-year rolling basis

2018/19 target

  • 5% annualised growth in net revenue profit on three‑year rolling basis
  • Outperform our MSCI bespoke total return benchmark on an annualised three-year rolling basis

How did we perform this year

5.2%

Three-year rolling growth in net revenue profit on an annualised basis

2.4percentage
points

Relative outperformance on three-year rolling annualised basis (percentage points) of bespoke total return benchmark

Priorities for 2019/2020

  • Meet our revised net revenue profit target
  • Outperform our MSCI bespoke total return benchmark
  • Continue to develop customer-centric strategies across our business
  • Progress key activities, including Leasing Round 4 and the development pipeline in Central London and Regional, in line with our business model.

Nurture a high-performance culture and reputation as a brilliant place to work

Through nurturing a high-performance culture we are creating an environment that attracts and retains the best people.

Our annual One Voice survey tracks employee engagement, enabling us to identify both strong performance as well as areas for improvement. We measure this against a UK national benchmark which includes organisations judged to have superior financial and people management practices.

2018/19 target

  • Outperform UK national benchmark for employee engagement. The benchmark for 2018/19 was 77%

How did we perform this year

89%

Employees who consider The Crown Estate to be a 'brilliant place to work'

Priorities for 2019/2020

  • Continue to outperform the UK national benchmark for our staff engagement survey
  • Continue our focus on learning and developing talent
  • Invest in new skills and expertise, particularly around digital, research and insight and customer experience
  • Enhance the employee experience

Build ever stronger relationships through high levels of customer and partner satisfaction, loyalty and recommendation

Customer experience is at the heart of our approach, driving excellence in how we do business. We undertake regular customer engagement surveys to better understand our customers and anticipate future trends. We work alongside our partners and customers to implement our findings.

2018/19 target

  • Outperform the Institute of Customer Service benchmark of 78.1%

How did we perform this year

80.6%

Customers who are 'satisfied' or 'very satisfied' across the portfolio

Priorities for 2019/2020

  • Outperform the Institute of Customer Service cross‑industry benchmark
  • Deliver improved customer experience that reflects the evolving needs of our customers and changing world around us
  • Develop a better understanding of customer journeys across all of our business activities
  • Ensure we have the necessary culture, people, training and processes to deliver enhanced customer service

Be a leading responsible and resilient business which thinks long term

We aim to create value beyond financial return through acting responsibly and sustainably in everything we do. We work to our environmental and social aspirations and seek to understand our broader impact, while implementing robust systems that drive efficient and effective operations, including health and safety, governance and crisis preparedness.

2018/19 target

  • Reduce carbon emissions intensity by 40% against the 2012/13 baseline for property under direct control, by 2022/23
  • 10% improvement in Incident Severity Score compared with 2017/18 (injury-related and significant near misses)

How did we perform this year

15.4%

Improvement on 2017/18, bringing us to a 34% improvement against the 2012/13 baseline

9.0%

Improvement in Health and Safety Incident Severity Score representing a 1% underperformance against the target

Priorities for 2019/2020

  • Develop our strategic approach to sustainability, responsibility and community through our Responsible Business working group and with the Board
  • Review our energy efficiency trajectory to ensure achievement of our carbon intensity target
  • Enhance visible leadership in health and safety through safety leadership tours and clear health and safety aspirations to demonstrate our commitment internally and externally.

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