Page 14 - Project Acanthus_Mainstay

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“We recognise that asset management requirements differ between client types.
While for all clients the core principles of asset protection and underpinning value creation will be important, we both recognise and understand that, for some, how the value is created and the legacy that the value creates will be equally as important.”
Luke Sanders
Group Managing Director
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Mainstay: Response to Tender | Project Acanthus - Part One
11. Comment on the overall KPIs you use internally to monitor your property management, facilities management and accounting service delivery
Mainstay work using two sets of KPIs - those set by Mainstay and those we agree for individual developments with each client. The objectives that our internal KPIs measure will form the backbone of our management approach. For the latter, we work closely with the client to understand what stressors and outcomes they have for the development. These form part of our contractual agreement and we have periodic and formal client meetings to review these throughout the service charge year.
Within Mainstay, our KPIs are aligned with our company cornerstone of providing brilliant basics. For Mainstay, the basics mean delivering on the traditional aspects of property management. We:
» Ensure health and safety, regulatory and asset compliance
» Deliver lease and contractual obligations
» Maintain accurate, timely and up to date records
» Deliver accounts and budgets in line with agreed best practice
» Resolve all customer queries and complaints within a set timeline
By ensuring that these fundamentals are covered to the highest levels, it gives our teams more room to add value to how we manage a development. To do this, we:
» Deliver agreed key performance indicators
» Develop an industry leading capability
» Enhance and build a community
Our KPIs cover every aspect of managing a development, including property management, facilities management, and accounting service delivery. Individual KPIs are based on an improvement objective and measured using a specific, measurable, achievable, realistic, and timely metric. For instance, the KPI to finalise and sign off 90% of year end accounts within 4 months is reviewed monthly, while budget KPIs are tracked weekly.
The KPIs form the basis of monthly operations meetings, which are attended by senior team members from all operations- based departments. The metrics are then shared amongst
the teams to highlight any issues that have been red-flagged during the meetings.
As well as using the KPIs to track progress for developments, Mainstay also uses them as part of team members’ monthly one-to-ones and yearly appraisals with their line managers.
Using the brilliant basics approach, accountability for achieving our KPIs begins at the top of the company and cascades
down. Luke Sanders, the Group Managing Director, measures Neal O’Grady, IPM Managing Director, on the same KPIs as the regional Associate Directors measure their estate and Property Managers. This ensures that the company’s expectations are consistent across the chain of command and our measure of success for managing all of our developments remains clear and easy to communicate to every member of the team.