Investment case
Key performance indicators
Our key performance indicators (KPIs), reported on every year, are listed below and are also available in our Annual Report and Accounts.
| KPI | Objective |
Definition | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|
| Customer satisfaction 8-week score ‘Would you recommend?’
|
We strive to achieve 90% or above in this question, which equates to a five-star rating. | Percentage of customers who would recommend Taylor Wimpey to a friend as measured by the National New Homes Survey undertaken by the NHBC on behalf of the HBF eight weeks after legal completion. | 92% | 89% | 90% |
| Customer satisfaction 9-month score ‘Would you recommend?’ |
We strive to improve this and understand the reasons behind and underlying drivers of this customer feedback. |
Percentage of customers who would recommend Taylor Wimpey to a friend as measured by the National New Homes Survey undertaken by the NHBC nine months after legal completion. |
78% | 77% | 74% |
| Construction Quality Review (CQR) (average score / 6) |
To achieve an average score of four out of six across Taylor Wimpey by 2020. |
The average score, out of six, achieved during an in-depth annual review of construction quality on a site-specific basis. |
4.45 | 4.13 | 3.93 |
| Average reportable items per inspection |
Reduce defects found during build stages. |
The average number of defects found per plot during NHBC inspections at key stages of the build. |
0.24 | 0.28 | 0.28 |
| Strategically sourced completions |
We aim to source more than 40% of our completions from the strategic pipeline per annum in the medium term. |
Number of completions on land which originally did not have a residential planning permission when we acquired a commercial interest in it, expressed as a percentage of total completions. |
55% | 56% | 58% |
| Land cost as % of average selling price on approvals |
To maintain at current levels or reduce our average land cost. |
Cost of land as a percentage of average selling price on approvals. |
18.3% | 16.2% | 19.2% |
| Landbank years | Increase landbank efficiency – reduce length of short term owned and controlled landbank years by c.1 year to 4-4.5 years. |
The years of supply in our short term landbank at current completion levels. |
c.8.1 | c.4.8 | c.5.1 |
| Voluntary employee turnover | We aim to attract and retain the best people in the industry and give them opportunities to develop to their full potential. We aim to keep this within a range of 5-15%. |
Voluntary resignations divided by number of total employees. |
9.4% | 12.9% | 14.5% |
| Number recruited into early talent programmes |
To reduce the impact of the industry skills shortage and future-proof our business. |
The amount of people recruited onto one of our early talent programmes including graduates, management trainees and site management trainees. |
47 | 116 | 175 |
| Directly employed key trades people, including trade apprentices |
To improve quality, reduce bottlenecks in key trade supply, reduce the impact of the industry skills shortage and future-proof the business. |
The number of key tradespeople directly employed by Taylor Wimpey including bricklayers, joiners, carpenters, painters, scaffolders and trade apprentices. |
1,038 | 1,169 | 748 |
| Health and Safety Annual Injury Incidence Rate (per 100,000 employees and contractors) |
We are committed to providing a safe place in which our employees and subcontractors can work and our customers can live. |
Reportable (all reportable) injury frequency rate per 100,000 employees and contractors (Annual Injury Incidence Rate). |
151 | 156 | 228 |
| Net private sales rate |
We want to break our historic sales rate barrier by thinking differently about how we deliver a home and to better capture demand. |
The average number of private sales made per outlet per week. |
0.76 | 0.96 | 0.80 |
| Private legal completions per outlet |
To improve efficiency on our sites and increase the number of legal completions per outlet. |
The number of private legal completions per outlet. |
31.5 | 48.2 | 41.8 |
| Order book volume |
We focus on building a strong order book for the future while balancing our customers’ needs. This is particularly important in an uncertain market. |
The total number of homes in our year end order book. |
10,685 | 9,725 | 8,304 |
| Order book value | We focus on building a strong order book for the future while balancing our customers’ needs. This is particularly important in an uncertain market. |
The total value of homes in our year end order book. |
£2,684m | £2,176m | £1,782m |