Smart business

Proper policies, procedures and approaches to ensuring health and safety during both construction and operation of buildings.

Ensuring the health and safety of employees and anyone affected by construction (people walking past a building site, minimising accidents and injuries) is our highest priority. This also means meeting health and safety standards once the buildings are in operation. Unsafe practices will have negative impacts on people, whether they be employees or residents. A developer must ensure the site is suitable and safe for the purpose for which it is intended. They must have a clear understanding of the risks and liabilities associated with the site, to ensure the ESG requirements are integrated, and the scheme is viable and that profit margins are safeguarded. A deterioration in the Group’s health and safety standards could place employees, contractors, site visitors or the general public at risk of injury or death and could lead to litigation or penalties that damage Telford Homes’ reputation.

The shared values, goals, attitudes and practices that characterise an organisation.

Healthy corporate cultures, where employees are engaged in the mission of the business, lead to more productive workplaces. Poor workplace culture can be seen through low engagement scores and high turnover rates. Good company culture will have a positive impact on employee wellbeing and a subsequent positive impact on productivity. Employee engagement surveys will help Telford Homes understand how employees are feeling and will also enable the company to base employee engagement initiatives around valuable feedback. Training and development opportunities are key contributors to corporate culture. Provision of programmes and assistance to upskill employees and facilitate continued employability enhance the attractiveness of Telford Homes as an employer. Turnover rates are a signal of the health of the company. If they are too high this can indicate a poor workplace culture. Workplace policies that improve employee retention can help reduce employee turnover costs. Family-friendly policies such as paid family leave and workplace flexibility help retain valuable employees who need help balancing work and family. Retaining talent is a positive return on investment and supports employee professional development. Problems retaining top talent can indicate problems with culture.

How a company is perceived by others.

The widespread beliefs held about Telford Homes will affect its reputation in the marketplace as a preferred partner. Companies with good reputations attract more loyal customers and employees. As more Telford Homes BtR projects are built, there is the possibility for more feedback and reviews from renters through online review platforms. Since people change rentals more frequently than they purchase a home, the number of reviews may increase, and the importance of those reviews may also increase. It is important for Telford Homes to act in a way that protects its reputation and reduces reputational risk to the business.

Protecting people from human trafficking and modern slavery associated with the construction sector.

Exploitation in the construction sector is rife, with an estimated 4.5 million construction workers in forced labour globally. Construction is the second-highest risk sector for forced labour after domestic work. Construction workers face non-payment of wages, debt bondage and being lost in complex supply chains, with risks higher for the sector’s significant migrant workforce. Owing to the reputational and legal risks involved with modern slavery, on top of the extraordinary harm to people who are trafficked or enslaved, Telford Homes takes all measures to reduce and eliminate exploitation in its supply chain.

Adherence to codes, regulations and policies for homebuilders.

Adherence to codes, regulations and policies for homebuilders (including Future Homes Standard, Homes England Strategic Plan and The London Plan). Aligning with these policies allows more people to access better and more sustainable homes. Not aligning risks affects Telford Homes’ licence to operate, corporate reputation and access to finance.

Creating an inclusive working environment for people of all backgrounds, with equal opportunities in recruitment, selection, training, development and promotion.

DEI has rapidly risen in importance for potential employees, ESG-driven investors and society at large. Companies cannot ignore the importance of ensuring that opportunities are unaffected by gender, race, religion, age, sexual orientation, disability, marital status, pregnancy or socio-economic background. All employees should feel valued and respected. Diverse businesses are more productive and resilient; pay gaps may indicate bias in recruitment or challenges to promotion of underrepresented minorities to higher levels. ESG-driven investors want to see support for DEI policies and an employee population that reflects the background diversity of the area in which the company operates. In addition, diversity should stretch across and within departments and across all job functions and managerial levels. There should be evidence of strong support for DEI policies by management.

Process mapping, Integrated Management System and Armed Forces Covenant’ and integrated approaches