Performance

Summary of progress against targets during 2006

The table below summarises our performance against community targets for the period 1 January 2006 to 31 December 2006. Further details relating to progress can be found in the audit of progress against targets.

Key Performance Indicators

Overall, the number of hours of PRUPIM staff time spent on community programmes and volunteering has decreased slightly since 2005, despite the number of staff (Head Office and site staff) volunteering having increased from 59 staff in 2005 to 80 staff in 2006 (as measured by the London Benchmarking Group). This suggests that more staff have been involved in our volunteering programmes, but in doing so, spending less time per person in such activity. This is also reflected in a slight reduction in the equivalent value of volunteering times in monetary terms. Overall, however, we maintain a strong ethos of employee volunteering, and this continues to represent a significant and valuable part of our community activity.

Data qualifying note:
(1) The 2005 equivalent value of volunteering data has been readjusted to reflect the increase in per hour costing of staff volunteering assigned by the London Benchmarking Group, from £12 per hour (2005) to £15 per hour (2006).

The amount raised by staff as a result of the payroll giving scheme ‘Give As You Earn’  (GAYE) running at our Head Office has increased by 32% compared with 2005. GAYE is the largest of its kind in the UK and has been running for six years within PRUPIM. Charities benefit by allowing them to claim back the tax paid on donations. The increase in the amount raised is a direct result of increased numbers of staff choosing to donate to their chosen charities through the scheme, and a strong communication programme by HR to market the scheme to all new and existing employees.

We are pleased to report that the amount raised by collections at PRUPIM-managed shopping centres and our Head Office has increased by 50% based on 2005 collections. This outstanding contribution can be attributed to the generosity of our shopping centre customers and staff who have once again supported us in our quest to raise money for a worthy cause. This year’s beneficiary is the Muscular Dystrophy Campaign which provides people with neuromuscular conditions (and their families) with information and advice about their condition and ways in which living with it can be made easier.

London Benchmarking Group

During 2006, PRUPIM once again used the internationally recognised London Benchmarking Group corporate community investment methodology to calculate contributions to the community in cash, in kind and through other non-financial channels. We are pleased to report that compared to 2005, our contributions have increased by almost a third (28%). A major reason for this increase is the secondment of a PRUPIM employee to the Prudential 4 Youth programme. However, we also increased our community contributions in areas such as furniture donation and hosting of charity events, meetings and staff fundraising.

Data qualifying note:
(1) Funds are channelled into specific community projects (e.g. Prudential 4 Youth, Prudential Grass Roots) based at our major properties and these projects address specific business needs. We do not have a budget for making other philanthropic charity donations, hence the reason for charitable donations appearing as zero.