The performance of our management and staff is measured on a balanced scorecard basis with an equal weighting for both financial and non-financial measures.
The KPIs are categorised under mutuality, financial stability, service and staff, which in turn tie back to our key strategic priorities for the Group.
|OUR KEY KPIs||Unit of measure||2015 PERFORMANCE||2015 GOAL||COMMENTARY|
|FINANCIAL STABILITY||Gross premium income||Rand billions||3.2||3.1||Gross premium income was in line with expectations.|
|Total assets*||Rand billions||29.5||29.7||Total asset growth expectation is measured over a three year rolling period. Muted market movements for the year resulted in total assets being slightly behind expectations although a prudent investment policy will ensure sustained growth into the future.|
|Efficiency ratio||%||18.4||19.6||Cost control remains an imperative of the Group.|
|New annual premiums||Rand millions||759.9||739.9||New premiums outperformed the goal, and were up 3% against prior year.|
|New investment inflows||Rand billions||3.5||4.2||An increase of 13% over prior year has been achieved, but the internal target of growth was not achieved.|
|MEMBERSHIP||Number of new members recruited during the year||Individuals||7 050||7 000||New member recruitment achieved target in 2015, a result factor of new initiatives launched in 2015. These initiatives will continue into the next year.|
|SERVICE||Average number of monthly ombudsman queries||Number of queries||3||< 5||PPS strives to treat members fairly, which is reflected in the low number of queries.|
|Customer satisfaction survey results||Rating||94||> 80||Customers are generally satisfied with our service. Ratings are based on the level of professionalism as well as effective query resolution.|
|STAFF||Employee satisfaction survey results||%||93||90||A significant improvement in survey results was achieved in 2015.|
|Training spend as a percentage of payroll||%||5.2||> 4.0||Training spend is a priority for the Group and is in excess of internal benchmark.|
|* Excluding assets in unit trusts for third parties|