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 2023, we recorded a 9-percentage-point increase 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.
Target for 2024: We will work hard to keep employee satisfaction at a consistently high level throughout 2024. We also aim to ensure that our recruitment rates, particularly in the technical trades, remain consistent with previous years in terms of both quality and quantity.
Medium to long-term target: In the long term, 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
By consistently promoting diversity and equality, in particular by increasing the number of women in management positions and engaging in targeted recruitment of international specialists, we can substantially improve our appeal 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., diversity within the company and 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
By consistently promoting diversity and equality, in particular by increasing the number of women in management positions and engaging in targeted recruitment of international specialists, we can substantially improve our appeal 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., diversity within the company and 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 improving our appeal as an employer combines strategic recruiting with the continuous development of our corporate culture. We use a variety of levers, such as targeted talent management, modern recruitment methods and retaining existing employees in order to respond to the challenges presented by the shortage of skilled workers in the long term. Placing particular focus on securing commercial specialists, we pursue an insourcing strategy and promote synergies through employment in our own business areas. Analyzing the reasons for turnover also provides us with valuable insights that we can use in a targeted way to decide on suitable retention measures, with the target of reducing the turnover rate in our company and thus counteracting the risk of shortage of skilled workers. These include human capital development measures that are tailored to individual career paths as well as attractive employee benefits that help to improve employee loyalty. Promoting an inclusive and diverse culture is another decisive factor, which is further reinforced by the annual employee survey. This forward-looking orientation allows us to implement a sustainable human resources strategy and position Vonovia as an attractive employer.
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 2023
- 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 Employee Issues section of the Annual Report 2023