Dementia Friendly Communities – Building the Business Case

1. Dementia Friendly Communities – Building the Business Case Dementia Action Alliance Crystal Blue Consulting Ltd 19th June 2013

2. Background • Brief – economic/business case for DFC • Structure: • Business perspective • Individuals – cost of the pathway • Today: • Feedback on business angle • Take soundings

3. Involvement • Talked to organisations on Champion’s Group • Lloyds Bank, Unison, National Housing Federation, Anglian Water • EDF, EON, M&S • Local business – DAA • Cockermouth – Centre for the Third Age • Falmouth: 24th June 2013

4. Questions • What is the nature of your business? • What does being ‘dementia friendly’ mean to you and your organisation? • Have there been any initiatives that could be described as dementia friendly? • Are there any proposed initiatives planned for the future? • What are the benefits to business in being dementia friendly? • Would you envisage any impact upon: • Customer base / Demand for services • Cost of provision • Workforce • Reputation, identity, branding • Business strategy

5. Answers • Nature of Business: • Supplying … to Customers • Being Dementia Friendly: • Awareness and understanding of dementia • How staff can best respond (using existing processes) • Initiatives: Training • Benefits to the business: improved customer service

6. Answers - Impact • Cost of Provision: • Low • Within existing training budget or quality systems • Sustainable • Fits within a wider approach • Workforce: • Employee support: Sandwich generation • Reputation: • Yes – very important • “Early days”: low maturity • Informal – Defined – Repeatable – Managed – Optimised

7. Barriers • How do we know when we are dementia friendly? • Uncertainty • Big vs. Small business • What does it look like? • Stigma • Businesses may not be very interested

8. Enablers • The right thing to do • Corporate goals, e.g. corporate social responsibility • Customer relations • Operational improvements • Strategic – ageing society • Reputation – core intangible asset • 91% unhappy customers do not complain • Unhappy customer tells 8-10 people • 92% customers trust word of mouth • Walk away pound • Reputation can break a company • Estimated to account for 3-7.5% revenues annually • High Street Competition

9. Customers • Prevalence: • 7% of 65+ population predicted to be living with dementia • Less than half have received a formal diagnosis • Severity: 55% mild - 33% moderate - 12% severe • Fear of Dementia: • 80% surveyed (aged 50+) fear dementia • 80% ……………………………….fear cancer • 84% carers fear their loved one will develop dementia • 82 % carers ………………………………………………….cancer • 48% respondents know someone living with dementia

11. Questions • Think of a business, e.g. • Retail, banking, utility, transport ……. your business? • How would you advise? • Being dementia friendly means ………. • Barriers to involvement • Is stigma a major barrier? Are there others? • Incentive to involvement • Examples of competitive advantage?

12. Thank You www.crystalblueconsulting.com