Act reliably
Our Annual Report
Our Objectives and Key Performance Indicators
Key performance indicators and target achievement: Employee satisfaction is one of the six key performance indicators for our Sustainability Performance Index (SPI) and is an important tool for encouraging employee participation.
It is assessed through regular, comprehensive surveys of our workforce. In 2024, we recorded a 1-percentage-point increase to 79 % approval in satisfaction values, showing that employee satisfaction is moving in the right direction. This progress demonstrates that the measures we have taken to improve the working environment and strengthen our corporate culture are yielding results and that we are on the right track to further build on our position as an attractive employer.
Medium-term target (2030): In the medium term, we are aiming for employee satisfaction of at least 77 %, which we would like to maintain at this high level. Further, we plan to establish ourselves as a top employer of choice in the real estate sector by optimally combining and coordinating our recruitment strategy and recruitment measures with employee retention measures. Employee satisfaction will continue to serve as a key performance indicator throughout this process.
Challenges, Opportunities and Risks
Opportunities
The long-term safeguarding of jobs, the provision of fair working conditions and the consistent promotion of diversity and equality, in particular by strengthening employee satisfaction and increasing the proportion of women in management positions and the targeted recruitment of international specialists, offers us the opportunity to significantly increase our attractiveness as an employer.
Risks
As a leading residential real estate company, Vonovia is also impacted by the shortage of skilled workers, an issue that is being exacerbated by the megatrend of demographic change. Without adequate measures to combat this (e.g., promotion of equity and diversity within the company and provision of fair working conditions as well as social benefits), there is a risk that we will be unable to fill key positions, which could affect our growth plans and the quality of the service that we provide. Nevertheless, as we have implemented complex measures relating to fair remuneration, human capital development and a progressive corporate culture, we consider this risk to be low (low amount of loss and probability of occurrence).
Opportunities
The long-term safeguarding of jobs, the provision of fair working conditions and the consistent promotion of diversity and equality, in particular by strengthening employee satisfaction and increasing the proportion of women in management positions and the targeted recruitment of international specialists, offers us the opportunity to significantly increase our attractiveness as an employer.
Risks
As a leading residential real estate company, Vonovia is also impacted by the shortage of skilled workers, an issue that is being exacerbated by the megatrend of demographic change. Without adequate measures to combat this (e.g., promotion of equity and diversity within the company and provision of fair working conditions as well as social benefits), there is a risk that we will be unable to fill key positions, which could affect our growth plans and the quality of the service that we provide. Nevertheless, as we have implemented complex measures relating to fair remuneration, human capital development and a progressive corporate culture, we consider this risk to be low (low amount of loss and probability of occurrence).
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Management Approach
Our management approach to strengthening our attractiveness as an employer combines strategic recruiting with the continuous development of our corporate culture. Our new HR strategy addresses identified challenges and opportunities centrally and Group-wide through its components. The aim is to secure the overall success of the business and jobs by attracting and retaining excellent employees at Vonovia in the long term.
We rely on a variety of levers - including targeted talent management, modern recruiting methods and the retention of existing employees - to meet the challenges posed by the shortage of skilled workers in the long term. A particular focus is on securing skilled workers in the commercial sector through our insourcing strategy and promoting synergies through employment in our own business units. To achieve this, we are integrating the further development of qualified specialists and employees into a comprehensive talent management concept.
Short, medium and long-term implementation and management phases are planned for this, accompanied by an overarching internal strategy process to flank Vonovia's new growth strategy with three parallel “horizons” on the HR side:
- Prioritization and processing of immediate needs, such as remuneration, recruiting, equal opportunities and equal opportunities.
- medium-term adaptation of the employer brand to personnel requirements planning, roll-out of talent and performance management, as well as targeted further training and support for existing employees on individual career paths.
- long-term strategic recruiting to attract qualified specialists for new roles in core business areas such as purchasing, sales, modernization and development in order to support Vonovia's growth strategy on the HR side.
Annual employee surveys and the analysis of reasons for staff turnover also provide us with valuable insights and enable us to take retention measures to reduce the staff turnover rate. Personnel development measures tailored to individual career paths and attractive employee benefits also contribute to employee retention. At the same time, the promotion of an inclusive and diverse corporate culture is a decisive factor that ensures Group-wide employee participation through the annual employee survey and is further strengthened in this way. In this way, our forward-looking HR strategy enables us to position Vonovia as an attractive employer in the long term.
Our Contribution to our Appeal as an Employer
Unser Beitrag zur Arbeitgeberattraktivität
Links
- Click here to visit our download center for all commitments and guidelines
- We have set out our ESG performance along with the most important key figures in our ESG Factbook 2024
- You can see how we have performed in various ratings and benchmarks here
- You can find further information on this area of action in the Own Workforce section of the Annual Report 2024