Management's discussion and analysis - FCC-FAC

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34 Strategic objectives Deliver an extraordinary customer experience Agriculture More Than Ever Annual Report 2011-12 Customer experience FCC delivers an extraordinary experience to customers, who are passionate advocates of FCC. Critical outcome In 2020, FCC continues to deliver an extraordinary experience to customers. As a result, the customer experience index score indicates that two out of three customers (65%) rate their experience with FCC as five out of five. Summary of results FCC has defined the customer experience as its key differentiator. The desired result is that customers feel that FCC is relationship-oriented, flexible, knowledgeable about agriculture and committed to the industry. FCC’s strong emphasis on how employees deliver service has led to rising customer experience scores (from 53.97% in 2006-07 to 63.56% in 2011-12). This indicates that FCC continues to deliver an extraordinary experience to customers and is on track to meet the 2020 target of 65% of customers rating their experience with FCC as five out of five. Demonstrate commitment to the agriculture and agrifood industry, with a particular focus on producers and young farmers Performance measures Customer experience index 16 2010-11 2011-12 2012-13 2013-14 Comments Target Result Target Result Target Target 58.44 61.64 60.00 63.56 Exceeded. 60.50 61.00 In 2011-12, FCC focused on enhancing the consistency of the customer experience at all locations throughout Canada through a detailed program of data-driven coaching. FCC conducted research through the FCC Vision Panel that helped to identify the three elements that differentiate FCC from all other providers in the market: personal relationship, industry knowledge and flexibility. These serve as the foundation for future customer experience initiatives. In 2012-13, FCC will develop an interactive and online services program. This program will deliver a redesigned website and mobile presence, formally establish FCC’s presence on social networks and improve partner online capabilities. Total lending to young farmers Number of learning program participants $1.71 billion $1.63 billion $1.48 billion $1.92 billion Exceeded. FCC has disbursed over $10.5 billion to young farmers (63,000 loans) over the past seven years. $1.74 billion $1.89 billion n/a n/a 10,500 11,457 Exceeded. 11,500 11,750 16 Customer experience index: this number is derived from customer surveys in areas such as satisfaction, loyalty, advocacy, ease of doing business and service resolution.
Annual Report 2011-12 Strategic objectives Demonstrate commitment to the agriculture and agri-food industry, with a particular focus on producers and young farmers Promote agriculture as a dynamic industry that is important to Canada Expand FCC’s ability to provide customers with leading-edge knowledge Agriculture More Than Ever FCC supports young farmers at every stage of their careers through finance and learning opportunities. FCC’s Generation Ag initiative offers support for young farmers through these different stages, including programs for rural youth and ag colleges and universities, as well as flexible options for young farmers. The new Young Farmer Loan, officially launched in April 2012, will enhance FCC offerings to farmers who are under 40 years of age. Loan processing fees will be waived for loans up to a $500,000 maximum. Interest rates will be capped at prime plus 0.5% for the variable rate product. The Transition Loan is designed to assist in farm sales to young farmers, offering flexibility in payment options. FCC guarantees payment to the vendor with an option to disburse payments over five years. Campus programs for the next generation of agriculture include: • the FCC Go Ag! Program, which offers students enrolled in agriculture diploma or degree programs the opportunity to host a speaker for an educational event on their campus • FCC On Campus program, which integrates FCC Management Software learning with the curriculum at several ag colleges and universities across the country • FCC Business Planning Award, which provides a monetary award to agriculture students with the top business plans FCC is also a partner of 4-H Canada, Fédération de la relève agricole du Québec and Association des jeunes ruraux du Québec, as well as national and regional programs such as the Canadian Young Farmers’ Forum and Canada’s Outstanding Young Farmers’ Program. In 2011-12, FCC renewed its commitment to 4-H through a new four-year partnership agreement and $250,000 annually to support 4-H and its annual speaking program. When challenges arise in the agriculture industry, FCC works with customers to provide support, as needed, such as flexible payments on existing loans and community crisis relief. In 2011-12, FCC proactively provided $37,000 to support community disaster-relief projects, mostly due to extreme flooding experienced by rural communities. FCC also helps customers who experience personal crises such as fire or critical illness with the FCC Ag Crisis Fund. In 2011-12, FCC helped 179 customers through short-term crises with $248,750 in support. In 2011-12, the FCC AgriSpirit fund provided $1 million to 120 rural community enhancement projects across Canada. Since 2006, FCC has offered a venture capital fund to Canadian agriculture to stimulate investment. In 2011-12, the corporation formalized an agreement to commit an additional $50 million to the industry through Avrio Fund II. Agriculture is a highly complex and globally competitive industry that is a vital and vibrant component of the Canadian economy. In 2011-12, FCC conducted research that revealed that both industry producers and the general public have less-than-positive perceptions about agriculture. There is a need to revitalize the industry and help shift perceptions. Through Agriculture More Than Ever, FCC plans to encourage farmers and other stakeholders to raise awareness about the importance of the agriculture industry. This is a multi-year initiative targeting industry, producers and the general public. More information is available at www.agmorethanever.org. FCC works to continually enhance employee knowledge, skills and experience to better serve its customers. In 2011-12, FCC provided webinars outlining knowledge expectations for employees, along with support and coaching tools. FCC’s Knowledge Management team provided over 100 customized knowledge packages for employees to share with customers. Custom knowledge packages are tailored to the customer or prospect with information on their industry, questions to ponder and sources for more information. FCC produced two Knowledge Insider publications – one on globalization and the other on the bioeconomy – which were also posted on the FCC website. 35
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