Our aim is to balance economic performance with social and environmental responsibility, and to provide consistent returns for our stakeholders.
1. Adding value to our customers
To develop a truly sustainable business, we must continually add value for our customers, fully understand their business drivers, and be a good company to work with. In return, we believe this approach will be rewarded with enhanced profitability and repeat business.
A strategic decision was taken in 2013 to focus the business on facilities management, while retaining and leveraging the technology and skills from our mechanical and construction legacy businesses. As a result, we are deploying technology that is better enabling us to enhance customer delivery in the facilities management marketplace.
- Continue developing customer-facing processes.
- Continue implementing new technology, where appropriate, to drive improved productivity and customer service.
- Continue to measure customer satisfaction.
2. Financial health
Providing our shareholders a superior return will always be key for a sustainable business. Our profitability will be underpinned by strong cash flows.
We continued the transition to a facilities management services focused company. In doing this we incurred costs associated with the closure of EMCOR Engineering Services, which diluted our return on sales. However, the remaining business, focused purely on facilities management services, remained profitable during 2014.
- Complete the transition to a facilities management services company, delivering upper quartile returns by 2016.
3. Healthy growth
We recognise that organic growth is an important measure of a truly sustainable business. We will focus our resources on retaining existing contracts, expanding work with current clients, and winning new work from within our target sectors.
Focus growth on most profitable sectors within facilities management services business.
- Drive profitable growth and retain sustainable order books.
4. Respecting our supply chain
Our ability to deliver value to our customers is heavily dependent on our supply chain, and we commit to treating our suppliers with respect and consideration. We adopt the highest ethical standards in our pursuit of long-term relationships, and seek the same from our supply chain partners.
To develop into a market-leading company in sustainable procurement, we have undertaken training and workshops with consultants in sustainable procurement. We have also given this training to some key suppliers in our supply chain, as we recognise that our goals must be aligned. As a result, we were the first facilities management company in the UK to achieve BS 8903, the standard for sustainable procurement. As part of the evaluation process, we developed a sustainable supply chain charter, which includes details on the fair treatment and payment of suppliers and the use of Small and Medium Enterprises (SMEs).
Included within our sustainable supply chain charter is a commitment that our suppliers will be paid in accordance with contract conditions. We expect all businesses in our supply chain to be treated similarly. We have demonstrated our commitment to this principle by signing up to the Prompt Payment Code, with supplier payments reported on a monthly basis.
We are committed to increasing our "proportion of spend” with small- to medium-sized enterprises. We partner with local suppliers as part of our responsible sourcing strategy to reduce logistical impact, and to continue supporting the local community. We hold “meet the buyer” days for local businesses, and all of our tenders include SMEs. Currently 60% of our preferred suppliers are SMEs.
- Achieve “expert” status in the next BS 8903 audit.
- Ensure that 100% of our preferred suppliers have joined the Supply Chain Sustainability School.