hca sw partnership event - ann santry - whats the deal? housing association mergers - workshop...
TRANSCRIPT
Merger drivers
• Service effectiveness
• Business efficiency
• Focus on core area
• More new homes
• Not growth for growths sake
What’s the deal? Housing association mergers 3
Strategic alliance matrix
What’s the deal? Housing association mergers 4
Strategic ambition
Culture
Geography
Stock
Balance sheet
People
Improved services
Greater efficiencies
More homes
Shared… Quality… Potential for…
Growth through merger
What’s the deal? Housing association mergers 5
12,581 15,200 20,500 30,718 37,000
Twynham Vale Kingfisher One Sovereign
2004 2005 2007 2009 2011
Benefits for residents
• More local management
• In-house maintenance service
• Additional new homes
• More resources – WBR etc
• Investment in services
6What’s the deal? Housing association mergers
Stakeholder benefits
7What’s the deal? Housing association mergers
• Capacity - £s and people
• Investment in projects
• Research
• GIS mapping
• Risk sharing
• JVs
Employee benefits
• Experience
• Opportunity
• Business resilience
• Employment offer
But
• Uncertainty
• Change
8What’s the deal? Housing association mergers
Spectrum – Merger rationaleShared experience
• LSVT
• Merger track record
• Stock swaps
Shared geography• 23 local authorities
• 850 homes per LA average
Shared approach• Similar strategy
• Shared vision and purpose
• Similar business model & governance
What’s the deal? Housing association mergers 9
Post-merger challenges
• Leaving the past behind!
• New team dynamics
• Business sensitivities
• How ‘we’ do things…
• Dealing with the change curve
11What’s the deal? Housing association mergers
Post-merger challenges
• Pace
• Delivering savings and capacity
• Maintaining morale
• Harmonisation - T&Cs etc
• Maintaining an outward focus
12What’s the deal? Housing association mergers
Lessons learned
• 2+2=5
• Revisiting decisions
• Pace
• Communicate & communicate
• Be visible and listen
• Maintain momentum
13What’s the deal? Housing association mergers
What makes a merger work?
• Parking personal impact
• Strong rationale & business case
• Shared view of the future
• Joint ownership of the process
• Cultural similarities (there’s no
such thing as fit)
• Hard work!!
What’s the deal? Housing association mergers 14