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Housing company saved from becoming derelict

Overview

Performance Coaching International (PCI) implemented a management coaching programme that took Redbridge Community Housing Ltd (RCHL) from the brink of financial ruin and closure, to a healthy, forward-looking organisation with predicted reserves of £400,000 by the end of this year.

At the end of the root and branch overhaul, managers said they had moved from being inward-looking and process driven to having a clear strategic direction, improved leadership skills and effective team working. More importantly, their staff agreed.

Some of the big successes:

• At the start of the programme in 2003, RCHL was operating at an annual loss of £200,000; this year there should be an operating profit of £400,000
• RCHL estimates the programme has saved £821,000, mainly through reduced turnover, lower sickness absence and reduced agency costs
• Agency costs reduced by 39% due to development of internal capabilities
• The staff survey showed satisfaction had doubled in almost every indicator
• 100% of participants in the coaching said they now have a clearer strategic direction
• 95% said leadership had improved at all levels
• 95% they had better self-awareness
• 100% said the programme had been a valuable and positive learning experience