ANNUAL REPORT 1 Contents
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– 2015 – ANNUAL REPORT 1 Contents IS IT CREATIVITY? IS IT COURAGE? 1. Big Fat Smile 2. Chairman & IS IT UNRELENTING OPTIMISM? MD/CEO’s Report IS IT NEW THINKING BASED ON 3. Governance & GROUND-BREAKING RESEARCH? Leadership 4. Highlights 2015 OR IS IT GREAT PEOPLE DOING 5. Dollars & Cents GREATWhat THINGS makes EVERYDAY? a 6. Leaders in Quality 7. International leader? Influence 8. Community Engagement 9. Our People 10. Leaders in Learning 11. Leaders in Fun AT BIG FAT SMILE WE THINK 12. Creative Leaders IT’S A BIT OF ALL THESE THINGS. 13. Independent Family Survey WE’VE BEEN RECOGNISED FOR OUR 14. Centres SERVICE QUALITY, OUR PRACTICES 15. Partners AND OUR INTERNATIONAL PROGRAM. WE PUSH OURSELVES TO MAKE EARLY LEARNING IN AUSTRALIA BEST PRACTICE FOR THE WORLD. 3 Established for social purpose in 1981, Big Fat Smile is the region’s largest provider of services for children and families. The Company plays an important part in the lives of thousands of children and families through a network of 27 Community Preschools, 15 Fun Clubs and a portfolio of community and inclusion programs across Australia. Who are Big Fat Smile’s work is crucial in shaping life trajectories big fat smile exists for for children, social outcomes for families, and economic CHILDREN and FAMILIES. prosperity for communities and the nation. we? Big Fat Smile’s Vision is for a braver, brighter, more creative world. It’s our OUR VISION is bold and aspirational. It’s what we seek for the reason for being. world. OUR VALUES express our deep conviction about the things The Company engages highly qualified, What sets us passionate educators so that every child that matter. OUR BELIEFS make clear who we are and how we see has the best start to life and learning. ourselves. OUR PURPOSE is explicit. We are here to lead, influence Quality is central to everything the and deliver. OUR STRATEGIC GOALS give focus at the highest level apart? Company does, with 100% of centres assessed in 2014 and 2015 achieving the about how we will achieve our Purpose. coveted ‘exceeding’ rating under the demanding National Quality Standard. In combination, these elements comprise our Strategic Framework, expressed simply below: The Company maintains value-adding creative, educational, international and community partnerships, and an extensive research program to inform professional What we seek practice and the development of learning programs. Across the network of centres VISION for the world. a braver, brighter, new technologies like Kinderloop ensure that parents, carers and family members can m o re cre a tive worl d . connect and participate in each child’s learning. For employees, the Company delivers sector-leading benefits, flexible work options, The things for Imagination. Courage. Integrity. Respect. career paths and a rich program of professional development including international VALUES which we stand. exchange opportunities. Local educators are supported by Reggio-inspired artists, musicians, environmentalists What we think We are creative. We are fun. We are diverse. BELIEFS about ourselves. and adventurers to extend and enhance every child’s learning experience. We are leaders. We are learners. For families, the Company delivers world-class early education and care, and we advocate for children and families in need. PURPOSE What we do, for To be Australia’s best-run & most respected whom & why. provider of programs & services to support the We also offer the little extras, like meals in long day care, nappies, sunscreen, breakfast and afternoon tea in fun clubs, cool studio programs in art and music, and much more. well-being of kids, families & the community. STRATEGIC (2013-16) 1. Strengthen 2. Invest in 3. Enrich Our Big Fat Smile is the place where people want How we achieve Our Business Our People Communities GOALS our Purpose. to work, and it’s where thousands oF children learn and grow every day. it’s a magical place. Our annual plans flows from this Framework, copies of which are available on request via [email protected]. 4 5 chairman & MD/CEO’s REPORT 2015 was an important year in which Big Fat Smile consolidated residential program for 75 special educators in November. its national quality leadership in the early education and school Delivered in partnership with the University of Wollongong and age care markets. For the second consecutive year, Big Fat Smile the China Association for Persons with Psychiatric Disability and achieved a 100% success rate in the independently conducted quality their Relatives, the program offered participants detailed assessments. instruction on leading visual systems and strategies to support All assessed centres were rated as ‘exceeding’ the National Quality children with Autism. Standard. The Board and executive team are very pleased with the We attended Bravissimo in October, the annual celebration of employee outcome, which is more than three times that of the 28% national average service and achievement. Long-serving and high-achieving employees were for centres. The ratings offer strong evidence that the Company’s acknowledged in the presence of their peers and the Company leadership. long-term Quality Strategy is delivering important and measurable results These employees are a credit to the company, contributing directly to the for children and families. deep community trust in the Big Fat Smile brand, its programs and The operating result for 2015 was a healthy $510k surplus. The net asset its people. position improved, cashflow remained healthy and 89% of families expressed We also thanked long-serving non-executive directors Glenda Pearce and satisfaction with Company services. The Employee Engagement Jenny Dixon for their energy, commitment and long service to the Board – Index of 85% contributed strongly to business performance, family Glenda for 15 years and Jenny for 11 years (10 years as Board Chair). Both satisfaction and our sector leading staff retention rate of 88% (ten- have been central in shaping the Company’s success. year average of 90%). The Board conducted a strategic planning day in the first half of the year, Big Fat Smile opened a state-of-the-art early childhood centre in October at following lead-in sessions with the executive group. The 2016 edition of the Manooka Valley and successfully completed the first full year of operation at plan maintains the key themes of quality and incremental growth, with a Castle Hill Community Preschool. Wollondilly Mobile Preschool operations major new focus on technology, both for improved early learning outcomes were reorganised mid-year to facilitate enrolments at both Wilton and a new and business performance. site in Oran Park Town. We are incredibly proud of the company’s Building on the corporate branding successes of recent years, the company launched a new brand for the school age market in 2015. Replacing achievements and market leadership again skoolzout, Fun Club gained positive early support from kids, families and staff. Fun Club enrolments increased steadily throughout the year, attesting to in 2015. the ‘on-brand’ creative programming of local teams. This success flows directly from the commitment Disappointingly, we learned of the withdrawal of Australian Government and hard work of teams across the Company, funding for the Company’s community programs in the 2518 and 2502 and we thank every employee for areas. MPs Sharon Bird and Ryan Park advocated for funding to be their part in this success. restored and this was achieved. The advocacy of the MPs and the community is appreciated and ensures that we continue to make an important difference for children and families Bill Feld in these communities. MD/CEO Big Fat Smile hosted visitors from Beijing and Yangzhou during the year, extending ties established in 2014. In Beijing, Big Fat Smile initiated a special four-day The Best leadership David Campbell Chairman STARTS WITH THOUGHT 6 7 governance & leadership The Board An elected Board of Directors governs Big Fat Smile. It sets Leaver (General Counsel and General Manager, Policy & strategic direction for the Company, ensures an effective Programs) was appointed as Company Secretary. The Board framework for the management of risk, and oversees acknowledged with thanks the prior service of Liz Depers in executive and business performance. both roles. Long-serving directors Jenny Dixon and Glenda Pearce During the year, the Board finalised new charters for stepped down at the Annual General Meeting as part of the committees dealing with: Audit, Risk & Compliance; scheduled Board renewal process. Helen Mitrofanis also Remuneration; and Governance & Nominations. The Board stepped down to meet other professional commitments. Ken also revised the Strategic Plan, including a technology Whitton, Tony Deliseo and Chris Stolk were appointed to the strategy to facilitate improved child learning outcomes and Board in 2015. business performance. After the Annual General Meeting, David Campbell In November, the Board noted the 10 years of service David Campbell Louise Meyrick Bill Feld Harold Cosier was elected as Board Chair, Chair of the Remuneration completed by MD/CEO Bill Feld and acknowledged his strong M Mgt, FAICD M Comm, M. Dispute Resol, BA, MBA, GAICD Dip Teach Committee and Chair of the Governance & Nominations executive leadership of the Company over that time. Board Chair Dip Ed Managing Director Non Executive Director of Big Board Deputy Chair Committee. Louise Meyrick was elected as Deputy Board Non Executive Director of Big Executive Director of Big Fat Fat Smile Group Ltd. since 2005 Chair and Chair of the Audit, Risk & Compliance Committee. Consistent with best governance practice, the Board Fat Smile Group Ltd. since 2014 Non Executive Director of Big Smile Group Ltd. since 2011 Member, Audit, Risk & commenced a process of evaluation in December. Chair, Remuneration Fat Smile Group Ltd. since 2014 Member, Governance & Compliance Committee Early in the year, Jacinta Wallace (Office of the CEO) was Committee Chair, Audit, Risk & Compliance Nominations Committee NSW Public School Principal Chair, Governance & Committee CEO, Big Fat Smile Group Ltd.