YIT Corporation has built a solid reputation for constructing, developing, renovating and maintaining homes and business premises, ranging from private companies to public organisations
Writer:Phoebe Calver | Project Manager:Richard Thomas
YIT Corporation has always had a very clear mission, vision and values that have helped to build the foundations of its incredibly successful operations and ways of working, having committed itself to a long-term business strategy within the industry.
The Company has always ensured that its values are paramount and therefore it will not simply pursue good financial results at any cost. Instead, in order to achieve such high business success, YIT consistently shows respect to its stakeholders in order to create value for all of them.
“This of course includes customers and employees,” explains Timo Lehmus, Senior Vice President of Real Estate at YIT. “We strongly believe that the ways of working outlined within our YIT business principles are supporting and boosting the long-term success of our business.”
These business principles are a concrete expression from the Company, demonstrating what compliance with its values means when it comes to its work with different stakeholders; of course there is also the Company vision, to always be a step ahead with care for people.
“Our relationship with the society we operate in is particularly important and subsequently we find our business is characterised by locality,” adds Lehmus. “Currently we are present in a variety of different countries and within these; we operate in small municipalities, big cities and of course everything in between.
“To match our local conscience, we employ local people and, through that, we cooperate with local suppliers and contractors, in order to be successful with this, good relationships with societies around us are crucial to the business.”
Of course in order for this to run smoothly the Company has strict regulations in place to adhere to when it comes to these relationships, and YIT follows the local laws and regulations in every country in which it operates.
“It is particularly important to us not to exercise or tolerate any form of corruption, extortion or bribery,” continues Lehmus. “We are incredibly committed to working against these practices and it is one of the driving forces of our Company.”
Alongside the aforementioned, the Company also actively participates in developing the whole construction industry, a prime example of this being partnering with educational institutions in the field and taking part in important discussions that concern the development of local communities.
Lehmus affirms: “YIT is incredibly committed to working on all of these schemes in order to develop attractive urban environments, as well as developing new services together with citizens and customers.”
Monitoring environmental impacts
In more recent times, one of the main aims of the Company has been to minimise the impact on the environment which is caused by its own operations, however, YIT’s products and services also have the possibility to support the reduction of its customers’ environmental impact.
“Our aim is to utilise this possibility to its full potential and therefore support it in creating an increasingly environmentally sustainable living environment in the surrounding areas of YIT’s projects and businesses,” continues Lehmus. “Additionally the following principles apply to our Company approach towards the environment.”
A big part of this commitment is to minimising the energy and water consumption, as well as the waste generation of the Company’s operations, alongside its greenhouse gas emissions. More specifically in construction projects, YIT has to pay special attention to the efficiency of the energy and material used, as well as the specific choice of materials; continuously developing solutions to any of those issues which will develop new solutions for increasing environmentally friendliness.
Lehmus explains: “We strive to provide long-lasting as well as environmentally sustainable living environments for our customers, investing in any developments in innovations in this field.”
Building for society
As a longstanding leader in the construction industry, YIT is incredibly skilled at creating more attractive and sustainable urban environments, through building housing, business premises and infrastructure.
“We have created sustainable urban environments through building housing, business premises and entire residential areas, that we are incredibly proud of,” describes Lehmus. “Over time we have built a strong market position, complimented by extensive experience and the ability to offer high quality, diverse expertise.”
At present the Company’s operations are located in Finland, Russia, the Baltic countries, Czech Republic, Slovakia and Poland, and with last year’s revenue reaching EUR 1.8 billion, YIT looks set for continued expansion into new regions in the near future.
Strong market position
In holding such a strong market position at present, YIT is the largest residential construction company to be operating in Finland - also possessing one of the largest business premises there - as well as holding the title as the largest foreign residential construction company in Russia.
“Looking to the future we are hoping to pursue well-managed and profitable growth for all of our businesses located across Europe and beyond,” adds Lehmus. “Our aim is to become a leading North European developer, builder and service provider, creating shared value with high responsibility.”
With aims to improve on its already quality service and customer service, the Company continuously introduces new, exciting and innovative housing solutions for customers.
“It has to be said that the success of our Company is first and foremost based on the high skill level of our employees, bolstered by the continuous development of competence,” concludes Lehmus. “It is a particularly exciting time for us at YIT, with the recent completion of numerous rental apartments and agreements in the pipeline. I am particularly excited to see where we will take the business.”