Our Steering Wheel – How colleagues make a difference
This article will take approximately 6 minutes to read
Published 21 Feb 2024 in Colleagues
It’s the new financial year and today’s update is all about our Society Steering wheel. Read our highlights and watch how our fantastic colleagues make a difference to the wheel in a number of key areas.
At Your Co-op, we believe there is more to being a successful business than just profits. So, as well as measuring our financial performance, the Society Steering Wheel measures our overall performance in the key areas of members, people, customers and delivery.
What is the Society Steering Wheel?
Our Society Steering Wheel has been in place for a number of years to measure our performance in the key areas of co-operation, people, customers and delivery, as well as our financial performance, aiming to drive behaviours across our Trading Groups and Support Services.
Each section of the wheel has a number of objectives that we monitor on a monthly basis, and all of our Trading Sites have their own Steering Wheel targets. This process aims to ensure that we are addressing our co-operative aims as a business on a continuous basis, right down to site level.
The sections are coloured red, amber or green to indicate whether they are below target (red), nearly on target (amber), or on or above target (green)
Our 2023 highlights!
Thanks to the efforts and support of all our colleagues, we’ve made some brilliant progress in 2023. Have a glance at how we’ve hit our steering wheel targets, showing year-on-year improvements across the vast majority of our measures.
Key highlights include the following;
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Member trade reaching its highest level for several years
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Over 100,000 new members recruited (86,000 last year)
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Over 70,000 members involved in co-op activities (55,000 last year)
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Overall colleague satisfaction increasing from 74 in 2021 to 79 this year
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Over 5 million kwh’s saved due to energy efficiency activity, equivalent to saving over £1.5 million in electricity costs and reducing CO2 emissions by over 1,000 tonnes
Listen to the fantastic impacts our colleagues have made over the last year…
2024/2025 targets
As part of our annual process to review the steering wheel measures to ensure that they are all fit for purpose in line with our business priorities, and to ensure that the measures continue to drive behaviours amongst our colleagues; we have made a few changes to the steering wheel measures this year.
We have reduced each steering wheel segment to 3 measures from 4 previously, ensuring that we retain the measures that drive colleague behaviours across our various sites to enable us to continue to make a positive difference year on year. Therefore, the four measures that have been removed are as follows;
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Community volunteering hours
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% colleague absence hours
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Net Promotor Score (NPS)
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% reduction in GHG emissions
All of the above measures are still important for our Society and will still be tracked outside of the steering wheel. Therefore, as an example, colleague volunteering is still really important for our Society, and colleagues are still encouraged to carry out community volunteering and logging your hours in the usual way through Colleagues Connect.
To view the 2024 Society targets and definitions click here.