Summary of impact
Key performance indicator
2022
actual
2023
target
2023
actual
Efficiency ratio
Company spending as a proportion of
income (organisational support expenditure /
total income).
9.4% 10% 11%
Charitable spend ratio
Proportion of spend on charitable activity
(Charitable Expenditure / Total Expenditure).
71% 67% 69.7%
Liquidity
Cash level at point in time.
£142.9 million £112.9 million £95.7 million
Employee engagement index
Engagement score is representative of people's
connection and commitment to Macmillan and
its goals.
New survey 70% 67%
Our impact
In 2023 we made progress on our people, culture
and internal systems and processes to ensure
Macmillan is set up in the right way to do its work
as efficiently and effectively as possible.
Results of our new employee engagement survey
show that we are slightly behind our target score
of 70%, which is the external benchmark score
achieved by other similar charities. As a result,
we have worked with our partner Culture Amp
to identify some key areas to further improve on
in 2024 which include open and honest two-way
communication, and communication of a vision
as these were found to have the biggest impact
on engagement at Macmillan with the best
opportunity to improve our scores.
We also continued our plan to spend down
our excess liquidity and invest in fundraising
and the expansion of our existing services. This
resulted in our liquidity balance being reduced
by £47.2 million during 2023. You can read more
information on liquidity in our financial review
from page 58.
Thank you 48
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Environmental, social
and governance review
Financial review
Strategic report
Overview Financial statements
5