Act reliably
Our Annual Report
Ensuring that our employees receive transparent and performance-based remuneration is a crucial foundation for fostering fair cooperation within our company. Vonovia also aims to meet the requirements of today’s increasingly dynamic world and modern lifestyles by promoting flexible working models. Our approaches provide our workforce greater freedom to organize their work in a way that suits their individual circumstances and thus improve overall job satisfaction and health at work. Read on to learn more about how we foster a culture of recognition and offer more flexible working days with our remuneration models and measures.
Target achievement: In order to consistently pursue our target, which is to offer a fair remuneration system that takes pay based on gender equality into account, we work out the differences in remuneration per gender (Gender Pay Ratio) each year. Across the Group, this currently shows that our female employees earn salaries that are 6.7% higher than those of our male employees. This is due to the higher proportion of men in the technical occupations and a more balanced gender ratio in the on-average better paying commercial roles.
Medium-term Target (2030): In the medium to long term, we aim to be able to provide all our employees with working models and locations that are optimally tailored to and supportive of their individual life circumstances. Additionally, we wish to further develop our remuneration system to ensure that it meets our high standards with respect to transparency and equal opportunities.
Flexible working models give Vonovia the opportunity to attract a wider range of talented staff and strengthen employee loyalty. Fair remuneration increases satisfaction and commitment, fostering a greater sense of loyalty to Vonovia among our employees. We also work to promote flexible working models such as flexitime accounts and equal opportunities within the company.
The challenge lies in developing remuneration models that ensure adequate recognition of our employees’ performance and provide them with a stable individual standard of living while remaining competitive on the market. There is also a need to develop forward-looking working models that are adapted to the changing life circumstances and requirements of all our employees. These are all partial risks that can be mitigated by implementing appropriate measures with respect to performance-based remuneration and creating a flexible, modern working environment. This increases our appeal as an employer and allows us to be proactive in combating the general risk of a shortage of skilled workers, which we currently assess as low – both in terms of the amount of loss and the probability of occurrence – due to the various measures we take.
Flexible working models give Vonovia the opportunity to attract a wider range of talented staff and strengthen employee loyalty. Fair remuneration increases satisfaction and commitment, fostering a greater sense of loyalty to Vonovia among our employees. We also work to promote flexible working models such as flexitime accounts and equal opportunities within the company.
The challenge lies in developing remuneration models that ensure adequate recognition of our employees’ performance and provide them with a stable individual standard of living while remaining competitive on the market. There is also a need to develop forward-looking working models that are adapted to the changing life circumstances and requirements of all our employees. These are all partial risks that can be mitigated by implementing appropriate measures with respect to performance-based remuneration and creating a flexible, modern working environment. This increases our appeal as an employer and allows us to be proactive in combating the general risk of a shortage of skilled workers, which we currently assess as low – both in terms of the amount of loss and the probability of occurrence – due to the various measures we take.
We believe that offering transparent, performance-based remuneration is one way that we can show our appreciation for our employees. We consistently uphold the applicable statutory minimum wage standards in Germany. More than 98 % of our workforce in our continued operations are covered by collective agreements. We understand that our employees’ satisfaction – and therefore also their loyalty to Vonovia – is directly dependent on fair remuneration and their day-to-day working conditions. As such, we also give the majority of our employees special benefits on specific occasions or based on performance (e.g., employee profit-sharing & MaxBonus) as well as optional discounted and additional offers that are not dependent on these factors, such as our employee share program, which we update regularly. These benefits may be tailored to specific employee groups, for instance.
In addition to this, we aim to create optimal working conditions for everyone and are continuously developing our concepts for mobile and flexible workplace design based on examples of best practices. Working hours and locations are to be made dynamic and capable of being adapted to the daily work routine of each individual employee through the use of digital tools and modern, appealing workplace facilities. This allows us to build an environment that appeals to both existing and potential new employees and promotes productive collaboration. These approaches are key to attracting and retaining talented skilled workers and help to position Vonovia as a forward-looking and employee-friendly employer.