Vision and Strategy
Our vision
To be the leading service company in our chosen markets
'Leading' means that we want to be the best partner to work with, the company people aspire to work for, and the company which delivers superior returns to shareholders. Our 'chosen markets' are those which promise strong revenue growth, attractive margins and the ability to offer good working conditions for our people.
Our strategy
Our strategy for achieving this vision has four elements:
Build a balanced portfolio. We aim to reduce risk and increase opportunity by building a balanced contract portfolio, spread across markets. This reduces our exposure to market fluctuations, enables us to select the best opportunities whichever market they are in, and allows us to transfer expertise from one market to another.
Maintain high rebid and new win rates. We maintain high win rates through building long-term customer relationships and by meeting - and often exceeding - customer expectations. This, along with our reputation with existing customers, helps us to expand the scope and scale of contracts during their life, retain contracts at rebid, and win new contracts.
Make strategic acquisitions. While we are primarily focused on organic growth, we make acquisitions to acquire new skills which will be important for future growth and to enter new markets where we see strong opportunities.
Develop new models. We respond to emerging opportunities by finding new ways to deliver services. This may mean collaboration between our divisions, bringing together skills and experience which few other companies can replicate. Or it may mean partnering with our customer or the voluntary sector. Our ability to lead change keeps us at the forefront of our markets.
Our Foundation Stones
Our five foundation stones define the way we run and grow Serco.
They set out the services we wish to provide, our behaviours and the way we manage. They ensure we are all working from a base that can be applied in a consistent way across our organisation
Our governing principles
Our governing principles describe the behaviours we expect to see throughout Serco. These are important as they help people understand why working for Serco is different.:
- We foster an entrepreneurial culture
- We enable our people to excel
- We deliver our promises
- We build trust and respect
Our business model - the way we wish to build the business
- Long-term relationships in which there is opportunity for continuous improvement, organic growth and value creation.
Our business offering- the services we wish to provide business
- Assured delivery of services, innovation and organisational change to help our clients in achieving their ambitions.
Our organisational model - addresses the relationship between Group and Divisions and sets clear guidelines over who does what.
- Group focuses on setting the strategic direction for the group, maintaining the appropriate controls on the underlying business and providing a range of shared services.
- Divisions focus on delivering the value and growth.
Our operating principles - the principles by which we will manage the company
- We have a simple and efficient organisation
- We operate an effective governance framework
- We encourage strong and capable leaders