How do you tackle an annual report for the first time?

How do you measure success with an annual report?
We measure success in a host of ways, some qualitative and some quantitative. As we have only issued one report so far since listing, we have focused more on qualitative feedback from investors, analysts, our own people, our clients and our partners. I’m pleased to say that the feedback has been overwhelmingly positive, which is a great reflection of all the hard work that went into the maiden report.

We have also uncovered some learning points, which we are ready to tackle in our next report. In terms of quantitative feedback, we look for an error rate of zero in the content – always a tough goal – and we also count and grade feedback received as well as monitoring any follow-up questions and counting relevant statistics around the online version of the report.

What advice and top tips would you give somebody tackling an annual report for the first time?

1. Find yourself a really good specialist partner, such as Luminous who we work with, who can help and guide you through the process. Especially if it’s a maiden report, you really don’t have to go through it alone.
2. Remember that the report is a holistic document and all sections of it are connected. It can be tempting to think of it in terms of the strategic report, governance report and financial being separate, but they are all interlinked and should be treated as such.
3. Make sure you have a really clear and realistic plan in place and that you allow yourself enough time to get everything done to the desired standards as the date of issue for an annual report is not a deadline that can easily be moved.