Download PDF - Stockland
Download PDF - Stockland
Download PDF - Stockland
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Our marketplace comprises our<br />
relationships with those stakeholders<br />
we do business with and the governance<br />
of this environment. Our marketplace<br />
is defined by our value chain – those<br />
customers we sell products and services<br />
to, our suppliers who sell products<br />
and services to us, and our investors<br />
who provide capital. Our marketplace<br />
environment is regulated by government.<br />
Our responsible interactions in the<br />
marketplace with our customers, suppliers,<br />
investors and government include:<br />
• Improving our understanding of<br />
the needs of our customers,<br />
• Setting clear performance<br />
expectations with our new and<br />
existing suppliers,<br />
• Responding to the issue of<br />
housing affordability,<br />
• Engaging with government to<br />
inform policy development and<br />
attain project approvals.<br />
Our customers<br />
Customer engagement<br />
Residential customer engagement<br />
To help understand our Residential<br />
customers’ needs, we use tracking<br />
research called <strong>Stockland</strong> Customer<br />
Pulse. The research, which is conducted<br />
by a third party, covers more than<br />
30 <strong>Stockland</strong> residential communities.<br />
Weekly interviews are conducted by<br />
telephone. In FY10 the number of<br />
interviews conducted with sales leads<br />
and those customers who placed<br />
a deposit totalled more than 4,800.<br />
The survey data is integrated with internal<br />
information to paint a picture of our likely<br />
customer mix. Over the course of FY10,<br />
upgraders (those who have purchased<br />
a property before) represented a larger<br />
proportion of our customers compared<br />
to FY09, and we expect this to be the<br />
case for the near future. Consequently,<br />
our next residential communities<br />
advertising campaign will focus primarily<br />
on this segment.<br />
The plans for each home that will be<br />
built in our communities are required to<br />
undergo a covenant approval process. In<br />
addition to approving suitable homes, this<br />
process enables us to collect data about<br />
homes being built in our communities, and<br />
helps us understand what is important to<br />
our different customer groups.<br />
To meet the needs of today’s customers<br />
we have introduced an online system<br />
which provides information on what<br />
customers are requesting, and actually<br />
buying. The system also collects<br />
information on environmental ratings<br />
and changing product demands which<br />
provides us with more information about<br />
customers’ sustainability preferences.<br />
The system has increased efficiency in<br />
the design approval process and allows<br />
us to work more closely with our builder<br />
partners to ensure we are delivering<br />
tailored product solutions that are meeting<br />
our customers’ needs.<br />
Retirement Living residents<br />
Our annual Residents’ Voice Survey<br />
provides residents at our retirement<br />
villages with an opportunity to tell us how<br />
they feel about life in a <strong>Stockland</strong> village.<br />
Results of the survey show that our village<br />
residents have a high level of satisfaction:<br />
• 91 per cent are happy with their<br />
community centres,<br />
• 75 per cent feel their quality of life<br />
has improved since moving into<br />
their village,<br />
• 37 per cent wish they had<br />
moved sooner.<br />
We use the results of this survey<br />
to analyse customer satisfaction,<br />
identify issues, calculate the best<br />
response and then take action –<br />
while ensuring residents are kept<br />
fully informed.<br />
What is our Residents’ Voice survey?<br />
Introduced in 2008, the Residents’<br />
Voice survey asks residents to rate their<br />
happiness from 1 to 10 on aspects such<br />
as overall happiness with the village<br />
to the Village Manager, Senior Nurse,<br />
social activities and outdoor area. The<br />
second survey was sent to approximately<br />
3,300 customers in October 2009 and<br />
achieved a 69 per cent response rate.<br />
How are the results used?<br />
The survey helped us identify what makes<br />
our residents happy and also gives us<br />
greater understanding of our residents’<br />
interests and the facilities they use.<br />
The results are collated on an overall,<br />
state-by-state and individual village basis<br />
which allows us to measure trends and<br />
to identify areas that have improved and<br />
issues of concern. We are also able to<br />
identify specific village-level issues which<br />
can then be addressed.<br />
Looking ahead<br />
Armed with a deep understanding<br />
of our residents’ profiles and needs,<br />
we are able to examine how best to<br />
increase residents’ happiness in the<br />
future. The findings make clear the<br />
benefits of maintaining and improving<br />
residents’ happiness. The FY10 survey<br />
told us 57 per cent had recommended<br />
a <strong>Stockland</strong> village to at least one other<br />
person in the preceding year. Of those<br />
making recommendations, 96 per cent<br />
rated their happiness with the village<br />
overall as 7 out of 10 or higher. The<br />
happier our customers, the more likely<br />
they are to recommend new customers.<br />
In FY11 we will continue to focus on<br />
the capabilities of our people and<br />
the wellbeing of our residents. Village<br />
Managers and Nurses are key drivers<br />
to resident happiness. We will review<br />
objectives for Village Co-ordination<br />
Managers, Village Managers and Nurses,<br />
strengthening our focus on residents’<br />
wellbeing. We will support this with a<br />
Wellness Program designed to increase<br />
social activities at each village.<br />
<strong>Stockland</strong> Corporate Responsibility & Sustainability Report June 2010<br />
47