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Housing association celebrates dramatic turnaround 12 months after HCA downgrade

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Housing association celebrates dramatic turnaround 12 months after HCA downgrade

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Published by Jon Land for 24dash.com in Housing

Housing association celebrates dramatic turnaround 12 months after HCA downgrade Housing association celebrates dramatic turnaround 12 months after HCA downgrade

A housing association is celebrating after an impressive turnaround in performance saw the Homes and Communities Agency restore its G1 rating for governance.

Twelve months ago Pierhead Housing Association agreed to an independent review after the regulator downgraded it to a G3 rating due to concerns over its board and executive team, as well as its governance structure. The HCA also highlighted internal relationship issues and lengthy staff absences among senior figures as contributing to the organisation’s poor governance.

Acknowledging the issues highlighted by the regulator in its assessment, Pierhead took immediate and bold steps to tackle the underlying problems with the target of getting back its G1 rating within 18 months to two years.

Starting with the appointment of a new board chair and an interim chief executive Pierhead set about redefining its vision and what it wanted to deliver for the communities it serves in Liverpool, Sefton and Wirral. This process led to the development of a new five-year strategic business plan.

To support this new vision the Pierhead board has been strengthened through new appointments, providing a robust training and development plan to support board members that will continue to enhance and develop their skills. The executive team capacity has also been increased by filling vacancies.

Reflecting the new ambitious outlook at Pierhead Housing Association plans are in place to develop the 6.5 acres Rose Brae scheme two years ahead of the previous business plans scheduled date and there are plans for additional units to be developed in Sefton as well.

On publication of the Homes and Communities Agency regulation committee report, Pierhead Housing Association chief executive, John Ghader said: “I would like to thank Board Members and our staff for all their hard work, and Councillor Ann O’Byrne for her support throughout the last year. The work required to turnaround the organisation from a G3 rating to G1 in one year should not be underestimated. I am delighted for all Pierhead Housing Association employees that we have returned our governance rating to the highest rating.

“At Pierhead Housing Association we strive to provide good quality homes for our tenants and support the neighbourhoods and communities in which we work. Looking to the future we want to continue building the Pierhead offer and we have some very exciting plans and opportunities in front of us.

“Whilst we may be a smaller social housing provider we have big ambitions.”

Board chair, Paul Smith said: “It is a resounding endorsement of the tough decisions we have taken and the hard work required for Pierhead Housing Association to bounce straight back to our G1 rating from G3, which was always our aim. We had planned it would take 18 months to two years to deliver this turnaround, so for it to happen in 12 months is a massive achievement.

“This success is down to the hard work, dedication and commitment of Pierhead’s fantastic staff, its executive team and my fellow board members.

“Over the last 12 months we have been united in our determination to get Pierhead back on track. Now this has been achieved we remain absolutely focused on continuing to meet these high standards. Maintaining G1 and V1 ratings is an absolute priority if we are to achieve our aspirations for Pierhead Housing Association and its tenants.”

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