As housing associations strive to provide affordable homes for their tenants, they are under immense pressure to keep costs down and secure growth. This can often be a difficult balance to strike, but there are some strategies that associations can adopt to help ease the pressure. In this blog post, we will explore some of these strategies and how they can help reduce cost management and secure growth for your organisation.
High costs and pressure to meet growth targets
Housing Associations often operate in an environment dominated by the pressure to meet growth targets while striving to keep costs down. The ability of Housing Associations to serve their communities can be undermined when caught between these two forces. To ensure Housing Associations are socially aware and still remain true to their mission, it is important that they focus on finding a balance between cost savings aims and growth objectives. This helps Housing Associations continue providing excellent service while meeting financial goals and achieving any necessary expansion.
Reducing overhead and focusing on core activities
Housing Associations are driven by a socially conscious mission and must effectively prioritise their efforts to perform the best for their communities. In order to fully commit to this mission, Housing Associations are realising that reducing overhead and focusing on core activities is key. By streamlining operations Housing Associations can focus on values-based initiatives, making sure resources are used efficiently and optimally allocated towards social good in the communities they serve. Taking a data-driven approach to understanding their operations, Housing Associations can pinpoint cost savings and areas where they can focus resources more intentionally while reaping the most benefits.
By streamlining processes, automating where possible, and outsourcing non-core activities
Streamlining processes, automating digital transformation where possible, and outsourcing non-core activities are all important components of today’s business environment. By taking advantage of digital technology and modern solutions, any business can unlock new levels of efficiency and growth, while continuing to focus on the core aspects that make the company unique. Automation can help optimise operations, streamline complex workflows, and reduce manual tasks that can often be time-consuming and error-prone. Outsourcing non-core activities ensure that businesses have access to the talent and additional resources they need without increasing overhead costs or requiring additional training. By utilising these three effective strategies, any business can achieve maximum efficiency and productivity in its digital transformation journey.
Efficiency & Impact
Civica is one of a few organisations that have already had a great impact on several housing providers. Their integrated platform makes it possible for housing providers to manage their housing stock more easily and cost-effectively, while also giving them the means to do so much more in terms of service provision. Civica also offers several options to ensure that Housing Associations get the best value for their money, like rent payment options that don’t require monthly paper billing or secure maintenance management solutions. These are just some examples of how technology can reduce costs, increase efficiency and further benefit those in need of quality housing solutions.
While cost reduction measures can often seem daunting at first, they do provide a wonderful opportunity for businesses to save time and money, allowing them to focus on improving their services. The time and money saved from using such measures can then be invested or used in other activities that may have been put on hold due to budget limitations. Moreover, cost reduction techniques allow providers to free up their resources and use them in delivering a face-to-face service that some tenants depend on. Overall, these cost-reduction measures benefit businesses immensely and make the path ahead significantly smoother.
If you’re struggling with high costs and pressure to meet growth targets, there is hope. Reducing overhead and focusing on core activities can help you get your business back on track. This can be done by streamlining processes, automating where possible, and outsourcing non-core activities. There are many companies that have successfully implemented these changes and reaped the benefits. Skillzminer can help you take some of the weight off your shoulders by providing a freemium package designed to help tenants in your community up-skill , find a better paid jobs and move closer to the labour market. So don’t wait – sign up today!