Redefine Properties Case Study
Who is Redefine Properties?
Redefine Properties Limited is a South African-based Real Estate Investment Trust that has grown exponentially since its modest origins in 1999.
Their primary goal is to increase and improve cash flow to deliver quality earnings, which will underpin growth and sustained value creation for all stakeholders. They believe that to create sustained value, they must do it from a place of purpose.
As expressed in their slogan “We’re not landlords. We’re people.”, Redefine embraces a people-centric and stakeholder-inclusive approach to creating value—integrating stakeholder engagement into every step of their value creation process. While COVID-19 has reshaped many traditional engagement platforms, they have focused on deeper engagement and collaboration to create mutual sustainability and value protection.
Redefine Properties had a positive organisational culture, but each division ran individually. They were not well aligned and lacked understanding of their role in the bigger picture. The CEO of Redefine Properties had a new strategy.
He developed KPIs to implement the strategy into the organisation and wanted people to know how they could contribute and ensure that both the company’s and employees’ critical outcomes are aligned.
With the Scientrix platform, we helped eliminate the challenge of misalignment.
Implementing our unique OKR alignment matrix allowed Redefine to have the crucial conversations about each area” contributions to the bigger picture (vertical alignment) and on how each area collaborates with other areas in the execution of the strategy ( horisontal alignment)
Employees understood the strategy and their role in the execution of the strategy. This led to a flurry of new ideas on how they can improve their contribution.
One of the challenges the organization faced was the lack of KPI data and data quality. The organisation started with a big drive to get their data in better order, which tied in with the performance of the rich conversations that began to occur.
With the help of Scientrix, Redefine Properties could now meet its overarching strategic objectives within the appropriate levels of the organisation.
They were able to set their objectives and visualise the progress made by each team. As a result, they can overview each individual’s responsibility, how they perform and how they add to the overall bigger picture of the organisation.
Redefine Properties was serious about implementing a strategy map for their organisation. With our solution, they could create alignment throughout all departments, open up communication, and seamlessly achieve their goals.
In addition, we also helped create higher efficiency in other areas of concern. Our team of experts has successfully assisted Redefine Properties in making sense of their strategic landscapes, crafting their strategies and developing their objectives and metrics