Tuesday 25th March 2014
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(10 years, 8 months ago)
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The Parliamentary Under-Secretary of State for Foreign and Commonwealth Affairs (Mark Simmonds)
FCO Services operates as a trading fund of the FCO. I have set the following performance targets for 2014-15:
An in-year surplus before interest and tax producing a net margin of between 1% and 5%
A return on capital employed of at least 3.5% (weighted average)
Cost of corporate functions as a percentage of revenue of no more than 7%
A utilisation rate for revenue-earning staff of between 75% and 80%
A customer satisfaction result of at least 80%
Employee engagement in FCO Services using civil service survey of more than 57%
FCO Services will report to Parliament on its success against these targets through its annual report for 2014-15.