Employee engagement & enablement
2017 was about bringing to life all aspects of the new Redevco business model. To make our platform operate as an integrated investment manager we had to make our organisation more focused, agile and scalable. We did this through the Business Operations Priorities (BOP), which helped us take a significant step towards improving the effectiveness and efficiency of our organisation, while also allowing our people to achieve their full potential.
ENGAGEMENT AND ENABLEMENT
We continued our work in 2017 along the three key HR themes: “Engage, Build, Deliver.” Engagement and enablement is a high material topic for our stakeholders, so we continue to focus on it in our initiatives.
“Engage” focuses on maintaining high levels of engagement and enablement across our organisation. In September, we launched a new employee feedback channel to replace the HAY Engagement & Enablement survey. We moved away from large standardised surveys conducted every two years and onto a more interactive and frequent dialogue, reflecting the value of employee feedback. We introduced Redevco Pulse to deliver faster, regular and focused insights from our people through questions created by our management teams. This anonymous survey provides a channel for our leadership team to understand what our people need so that they can deliver more, while offering our employees an opportunity to express their views on topics that are directly relevant to them.
We use a variety of feedback channels and settings to communicate and listen to our employees. The Redevco Pulse is part of this “feedback mix”. We believe this is fitting in a world where there is constant two-way communication and information, both on- and offline. Our first Redevco Pulse had an 89% completion rate. The new, targeted and short survey format got a positive response. We scored 81% on our Engagement Index, which now serves as our KPI baseline.
A significant boost to employee engagement came through our International Event. A total of 175 employees enthusiastically took part in a fun 1.5-day team event that celebrated our transformation into a fully integrated investment manager. The key objectives were to help the global Redevco team become more client focused, enhance adaptability and flexibility, and to install an entrepreneurial mind-set. In addition, the activity we undertook to achieve the abovementioned objectives enabled us to raise money for local charity organisation Payasospital and we were able to offer this worthy charity an amount of €18,334.
Our HR priority of “Build” also received a lot of attention. On March 1st, 2017, our new organisational blueprint went live in adherence to the Business Operations Priorities (BOP) as identified by our Business Operations Team (BOT) in its assessment and recommendations on making Redevco more focused, agile and scalable. The blueprint has enabled us to start operating in a more standardised and integrated way across our platform, creating clear accountability and speeding up our commercial and back-office processes.
Changing the way we work is not something that happens overnight. We are committed to supporting the organisation during this time of transition because we believe that this is the way forward to grow and create value to existing and new clients.
Training and tooling
We supported the transition by ensuring that our people have the right knowledge and skills to carry out their (new) responsibilities. Various training initiatives took place in 2017 locally and for specific roles and will be continued in 2018:
- 21 Asset managers and portfolio directors met in Amsterdam for a six-day Asset Management training programme, for example. Developed in-house, the programme covered the theory, practice and enablement of the new asset manager role.
- We organised a Finance Community training programme focused on the following themes: doing my job better, sharing best practices and how to work together more efficiently and effectively. Developed in-house and facilitated by colleagues, the feedback from the event was very positive in terms of content and the opportunity to develop better working relationships.
- We will be launching a pan-Redevco Learning Curriculum in mid-2018 to provide better support in developing our people.
Run through Corporate Services HR, our recruitment efforts attracted twenty two new joiners and led to four international transfers within Redevco. Ongoing recruitment efforts aim to attract the appropriate talent so that Redevco is better positioned for the future.
Our third priority of “Deliver” focused on embedding our annual performance and reward philosophy. This followed the launch of our “Inspiring Great Performance” booklet, which explained clearly and concisely the key steps and rationale behind our annual performance and rewards cycle.
With an integrated process plus a Performance and Reward philosophy firmly in place, we have enabled our organisation to make significant progress over the past year.
ACTIVE THOUGHT LEADERSHIP AND KNOWLEDGE SHARING
Redevco and its employees are active in a large number of organisations across Europe. We believe in sharing our knowledge and do so via active participation and membership. We are members of the Green Building Councils (e.g. DGNB), National Scheme Operators for BREEAM in Europe (e.g. DIFNI, BREEAM ES), National Councils of Shopping Centres (e.g. NRW, BCSC, BLSC, CNCC), as well as the International Council of Shopping Centers (ICSC), Urban Land Institute (ULI) and many other local organisations (e.g. BPF, IVBN, SSM). We are active members of the Board or committees of a number of these organisations. We support those employees who seek to fulfil a wider role in society by taking on external roles. This benefits society and enhances their network and professional skills. In addition to these formal positions, Redevco employees are also regularly invited to speak at conferences and participate in panel discussions. In this way we also provide a positive contribution to the sector through knowledge sharing. Enabling our employees to do so also resonates with the outcome of the materiality assessment, where employee engagement and enablement scores highly.