Key priorities & achievements
Focused our efforts on further developing capability in our sales job team - delivering sales coaching for Sales Managers in Residential and Retirement Living. and quarterly state based skills workshops for sales professionals.
Supported our Finance Transformation Program to streamline job titles and define future state capabilities.
Continued our Gateway asset management training program this year.
> Deliver capabilities that support business unit growth strategies and corporate function improvement plans.
> Design and deliver management and leadership development initiatives aligned with the new Leadership Success Profile.
> Extend the mentoring program more broadly across the organisation.
> Reduce employee initiated turnover to 10 percent or below.
> Review and update our performance management and reward frameworks.
> Increase the percentage of women in management roles, in line with our target of 40 per cent by 2015.
> Foster a more flexible and diverse work environment through targeted initiatives.
> Continue to deliver briefings on the new Workplace Health and Safety Harmonisation Laws to our workgroups across the business.
> Develop OH&S Risk Leadership standards.
> Deliver OH&S Risk Leadership training.
> Upskill our OH&S team members and qualify them as ASNZ4801 Safety Management Systems accredited auditors to assess compliance with our new Safety Management System.
> Implement new safety management system and audit program aligned with ASNZ4801.
Developed a Leadership Success Profile that defines our Leadership Responsibilities and Attributes to support our strategy and purpose.
Designed and launched a mentoring program in Corporate Services.
Delivered a range of management development programs (Managing at Stockland; Leading with Insight and Building Capability).
|Aligned, connected, and engaged culture||
Introduced "One Up" career discussions with employees and their one up manager (i.e. their manager's manager).
Held Manager Discussion groups involving 50 managers from Sydney and Melbourne to explore key issues impacting on their engagement.
Employee initiated turnover at 14.5 percent for FY11 continues to be a challenge, requiring an increased focus in the year ahead.
|Diversity and flexibility||
Increased the percentage of women in management roles from 35 to 37 per cent and introduced two new womens development programs - the Future Women Leaders Program and the Senior Women Leaders Program.
Introduced a workshop for our Leadership Team to build a greater awareness of unconscious bias and its implications for business.
Embedded our Parental Transitions Program, with the return rate of employees from parental leave increasing to 94 percent.
Expanded our involvement in the Stepping Into work experience program for tertiary students with a disability.
|Occupational health and safety (OH&S)||
Reviewed individual OH&S accountabilities and responsibilities in all our job roles across the business and developed new OH&S lead indicators that will focus on driving proactive safety performance through a range of initiatives aligned with a National OH&S Strategy.
Commenced briefings on the new Workplace Health and Safety Harmonisation Laws to our Executive and Senior leadership teams.
Developed and implemented National OH&S Strategy with our OH&S team broadening their capability to impact safety performance at a National level.
Conducted an OH&S National Internal survey with over 100 frontline managers to identify key issues and requirements to assist with the development of procedures, reporting and analysis, legal requirements and contractor management. The feedback was integrated into the National OH&S Strategy.
Changed the Health, Safety & Environment function name to Occupational Health & Safety (OH&S) to focus on and reinforce the core responsibilities of the team.
Employee engagement & wellbeing
The 'Our Voice' employee opinion survey is a key source of feedback from our employees that helps us continue to enhance our workplace. 2011 was the seventh consecutive year that we have conducted the survey, demonstrating Stockland's commitment to listening and responding to our people. The survey is used to understand what we are doing well and identify areas we can improve to drive better outcomes for our employees and our business.
In addition to developing an organisation-wide response to the survey, debriefing sessions are held in each team to better understand the feedback from the survey and identify strategies to address local issues.
Employee engagement is a key indicator that gives us an insight into how our people think, feel and act at Stockland. We measure it using a set of questions benchmarked by our survey provider Towers Watson. Pleasingly, in 2011 our employee engagement score was 84 per cent, up two points from the prior year and three points above the Global High Performing Norm (GHPN), Towers Watson's highest benchmark.
The increase in engagement this year was largely driven by a reported improvement in team morale (up four points) and an improvement in how energised people feel to go the extra mile (up six points).
Compared to last year several categories registered improved year on year scores, including:
- Pay - This was the most improved category with a seven point improvement since 2010. The increase redressed the decline in the same category from the 2010 survey.
- Balancing work / life - This category improved by five points and is 10 points above the GHPN. Stockland has invested significantly in the past years to encourage more flexible working arrangements (see our Section on Diversity and Inclusion for further details).
- Working relationships / collaboration - This category improved by four points. We have focused on strengthening cross business relationships and in 2010 established several improvement projects to deliver a 'One Stockland' approach to key business capabilities.
Employees have consistently indicated through the 'Our Voice' surveys that opportunities for professional and career development are the primary drivers for working at Stockland. We introduced further initiatives in the past year to respond to this feedback. The first was a Stockland-wide initiative called 'One Up' which is a discussion between an employee and their one up manager (i.e. their manager's manager) where the employee has an opportunity to share their career aspirations, explore broader career development options and build a stronger relationship with their manager's manager.
The second was a pilot Mentoring Program that was launched in Corporate Services and will be progressively rolled out over the remainder of the year. All employees in Corporate Services were invited to participate in the program and we have 45 mentors and 56 people as mentees. In February and March 2011 mentors and mentees were trained to provide them with the skills required to for the mentoring relationship. The evaluation of the program after three months showed that 90% 'Agreed' or 'Strongly Agreed' that the mentoring program has met their expectations.
Our key areas of focus for improvement in the year ahead are:
- Improving employee retention. While intentions to stay have improved from 2010, there are still just over 10 per cent of employees who have indicated they are seriously considering leaving Stockland. This, coupled with our current employee initiated turnover rate at 14.5 per cent, is an area we wish to focus on to minimise our turnover rate.
- Our customer category score was slightly below the GHPN and in light of our new organisational purpose, customers will be a key focus area for the year.
- Our people indicated that improving work processes and systems is their highest priority. To that end, our Finance Transformation Project is now well underway and aims to improve all our core finance systems and processes.
Diversity and inclusion
|Diversity in the workplace
We value diversity and aim to create a vibrant and inclusive workforce which is reflective of the communities in which we operate.
Building a more inclusive workforce enables greater diversity of thought, more informed decision making and ultimately better business outcomes.
Our Diversity Steering Committee guides our diversity and flexibility strategy, together with the implementation of our action plan. It also champions diversity across the business. Diversity forms an integral part of our People strategy with progress against our objectives and targets reported to the Board.
In the 2011 'Our Voice' employee survey, 94 per cent of people felt that we provide a working environment that is accepting of differences in cultural background or lifestyle.
We are determined to ensure that our workplace is free from discrimination, bullying and harassment, enabling everyone to work in a happy, relaxed and safe environment. During FY11, our two hour face-to-face training program on preventing workplace discrimination and harassment was expanded to include more of our employees based in regional areas. This program supplements the online Equal Employment Opportunities training that all employees are required to complete.
This year we introduced a new training workshop for our Leadership Team to improve awareness of unconscious bias and the consequences of stereotypic beliefs.
In accordance with the Australian Stock Exchange Corporate Governance Principles and Recommendations, we have adopted a Gender Diversity Policy that includes measurable objectives relating to gender. This policy is available on our website, and we provide an update on progress against our objectives annually in this report. Our aim is to increase the percentage of women in management roles, which over the past year has increased from 35 per cent to 37 per cent. We have set a target to increase the number of women in management roles to no less than 40 per cent by 2015.
93 per cent of people felt that we provide a working environment that is accepting of gender differences, according to our 2011 'Our Voice' opinion survey.
Two new accelerated development programs have been implemented to maximise opportunities for women in leadership at Stockland. The "Future Women Leaders Program" is targeted at emerging talent, while the "Senior Women Leaders Program" is designed for experienced managers. Both programs are facilitated by an external consultancy specializing in maximising opportunities for women in business. The programs were recommended for implementation by our 2010 Peter Daly Fellowship winners, with the content reflecting their global best practice research findings. See our case study on women in leadership.
Our Parental Transitions Program provides comprehensive support for employees preparing to commence or return from parental leave. During the year, we enhanced our parental leave policy providing eligible employees commencing parental leave (as the primary caregiver) with 15 weeks paid leave - an increase of three weeks compared to our previous policy. Stockland's Paid Parental Leave Program operates independently and in addition to the Australian Governments new Paid Parental Leave (PPL) scheme.
Our commitment to embracing flexible working has expanded beyond the minimum requirements outlined in the Fair Work Act, to provide all employees with the opportunity to request flexible working arrangements. Our online flexible working requests system enables Human Resources to track all requests and assist managers in implementing appropriate solutions. In FY11, 30 new formal flexible working requests were approved by managers for implementation.
During 2011 we are co-sponsoring a comprehensive research project "From Marginal to Mainstream - making flexibility standard business practice" being undertaken by the Diversity Council of Australia. The research project will provide a valuable insight into Australian employment and diversity-related workplace trends by demonstrating how men can play a key role in mainstreaming flexibility, and identifying actions which can be taken by organisations, work teams and employees to make flexible careers standard business practice. Results of this comprehensive research study will be available in November 2011.
Over summer 2010/11 Stockland provided paid work experience opportunities to eight university students with a disability. The students worked in our Sydney, Brisbane and Melbourne offices as part of the "Stepping Into Program", undertaken in conjunction with the Australian Network on Disability (AND). We also hosted two training seminars for AND at Stockland Head Office. Our commitment to advancing the equitable inclusion of people with disability has been recognised with Stockland's membership of the Australian Network on Disability being elevated from silver to gold standing.
We have made significant commitments to improving the accessibility of our assets for more information please refer to the Accessibility and Liveable Housing Design section.
Ethnicity and Indigenous Australians
As part of celebrations for Mabo Day on 3 June 2011, Stockland Head Office hosted an Indigenous exhibition featuring a portrait of Bonita Mabo. The painting was commissioned by The Aboriginal Arts Residency Kenmore (AARK) and painted by Gregory S Fergusson with Samara Littlemore. Mabo day commemorates the landmark decision by the High Court of Australia in the MABO versus Queensland court case, which led to the Commonwealth Native Title legislation. Bonita Mabo is the wife of Edward Koiki Mabo who led the eponymous campaign for indigenous land rights.
During the year, Stockland became a member of the not-for-profit organisation "Australian Indigenous Minority Supplier Council" (AIMSC), providing a tangible way to effectively engage with Indigenous suppliers on a business level and develop Stockland's approach to supplier diversity.
Our community initiatives also support our commitment to diversity please refer to the Community Involvement section.
Our workplace human rights commitments are included in the following policies and procedures:
- Code of Conduct and Ethical Behaviour,
- Dispute Resolution Policy,
- Whistleblowing Policy,
- Health and Safety Policy.
We support our employees by offering a range of benefits such as:
- Eligibility to participate in an employee share plan and short-term incentive program;
- Employee discounts for purchases in Stockland developments;
- Two days paid personal volunteering leave;
- Parental Transitions Program;
- On-site childcare centre at our Sydney office;
- Dependent care information and referral service;
- Option to purchase additional leave;
- Learning and development programs; and
- Employee Assistance Program that offers confidential counselling for employees and family members.
Learning & development
During the year we delivered performance review training to more than 85 per cent of our people managers to help support them in assessing performance and holding effective review discussions with their employees. The training also helped ensure a consistent approach across the business and clear communication to employees around the process.
To help ensure new employees are able to gain an understanding of our business as quickly as possible, we reviewed and updated our orientation program this year. Under the new format the 3-R strategy is more clearly reflected and our employees get to not only learn about each part of the business from our leaders but experience this first-hand through visiting some of our physical assets.
We also introduced a formal mentoring program for employees. The program is currently being piloted in our Corporate Services business and gives employees in this area an opportunity to gain advice and discuss career and other work related challenges with an objective party in a confidential and safe way. It also promotes relationship building across teams and knowledge sharing and development for all involved.
Developing our leaders and managers
In light of our 3-R strategy and new purpose we reviewed the type of leadership we require to ensure our success. A project was undertaken to look at what we expect of our leaders at each level, what skills and behaviours are needed to deliver on these expectations, and what experiences are critical for them to have had prior to taking on a leadership role. The project has delivered clear leadership success profiles for each level of leadership within the business. These will be used to support recruitment, promotion and development of our leaders to continue to build our leadership capability for the future.
Our focus for FY12 is to embed the new Leadership Responsibilities and Attributes at all levels of people manager through the use of 360 degree leadership assessments, individual development plans and refreshed management and leadership development programs.
Building capability in job categories
In FY11 we focused our efforts on further developing capability in our sales job team. The year kicked off with a sales coaching program for 20 Sales Managers in Residential and Retirement Living. This was a twelve month program with a series of three workshops and monthly coach the coach forums. In FY12, we will focus on creating a common sales training curriculum for our three business areas to support a "One Stockland" sales culture.
In our Commercial Property business 39 asset management employees completed the Gateway program that was launched last year. This program helps asset managers gain a broader understanding of all Commercial Property asset classes. Feedback on the program was very positive with 67 per cent of the participants rating their overall satisfaction with the program as either "excellent" or "very good".
Embedding sustainability into our business activities is essential in delivering of our CR&S strategy objectives. Our employees are central to our ability to deliver sustainable business outcomes. Over the past 12 months, we have worked to train, enage and reward our people on sustainability. The results of the Our Voice employee survey confirm that we are doing this successfully:
- 87 per cent of employees believe we are doing a good job of integrating sustainable business practices into our day-to-day operations;
- 89 per cent of our employees believe we achieve the right balance between social, environmental and financial responsibilities;
- 93 per cent of our employees believe we are environmentally responsible; and
- 94 per cent of our employees believe we are socially responsible.
We continue to integrate sustainability responsibilities by embedding sustainability objectives into all employees' key performance indicators (KPI's). Sustainability KPI's are recognised as having equivalent importance as financial and people management performance metrics. In the coming year, our Residential business will further embed sustainability objectives in employee KPIs by identifying the key decision points throughout a project's lifecycle where sustainability outcomes can be influenced.
We have also had a focus this year on improving our employee's awareness of our sustainability approach, position and achievements, and have shared sustainability stories and information throughout the organisation. Please see our embedding sustainability through training case study.
Health & safety
Our new safer way OH&S strategy
The transition of Occupational Health and Safety legislation in Australia from multi-state based prescriptive legislation to a more harmonised National performance-based approach has placed greater emphasis on the need for us to adopt a national approach to managing our health and safety risks. We have responded by developing a National OH&S Strategic Plan that will see us develop effective and streamlined OH&S management systems and processes and implement a one Stockland approach to OH&S management.
Our two year OH&S Strategic Plan focuses on four key areas:
Engaging and empowering visibly committed leadership;
Simplifying and strengthening OH&S systems;
Mitigating and managing our OH&S key risks; and
Mastering sustainable OH&S capability and a risk aware culture.
OH&S accountability and responsibility
As part of our OH&S Strategy we have completed a review of individual OH&S accountabilities and responsibilities in all our job roles across the business. The outcome of this review has been the development of new OH&S lead indicators for 2012 and an increase in the associated weightings for roles with more OH&S responsibility and accountability. The implementation of these new lead indicators will focus on driving proactive safety performance through a range of initiatives aligned with our National OH&S Strategy.
Safety management system audits
To enable us to determine how to best implement National OH&S Management systems that will focus on our key risk areas and provide, as a minimum, regulatory compliance assurance under the new harmonised WHS laws, a gap analysis audit was piloted. This audit process combines both physical asset safety controls in line with our general insurance requirements and an Australian Standards 4801 Safety Management System (ASNZ4801) tool. This combined audit program will streamline existing audit practices and provide an annual risk prioritised Safety and Asset Protection Plan for each property that will enable both property risk and safety system process and regulatory risks to be managed via a transparent and simplified process. Ongoing management will include self assessments and an annual verification process.
OH&S reporting capabilities review
A new suite of OH&S reports has been designed to measure and track performance more effectively and efficiently, minimise error thresholds and associated costs and to reflect progress with strategic objectives and managing OH&S risk. There are also a number of projects underway to automate and streamline our incident data transfers to our brokers and insurers.
Lost time injury rate
The Lost Time Injury Frequency Rate (LTIFR) for FY11 is 2.15 which is a 64 per cent decrease from 5.98 in 2010. The number of lost time injuries has decreased from 13 to five with number of days lost down by 20 per cent from 87 in 2010 to 70 in 2011.
'Our Voice' survey - OH&S results
Overall across our business 94 per cent of our employees think that Stockland is a place that cares about the health and safety of its employees. 98 per cent believe their work area is a safe place to work and 95 per cent believe Stockland does a good job of ensuring employee health and safety wherever we operate.
Customer health and safety
This year we undertook an initiative to provide our customers at all of our shopping centres and our employees with access to Automated External Defibrillators (AEDs). We also conducted a review was across our centres that have My Funland playgrounds installed.
Our people metrics
Our employees are central to our ability to deliver on our business outcomes. Our people section provides in depth details on the breakdown of our workforce (excluding UK operations). These breakdowns include:
|Diversity in the workplace
We value diversity and aim to create a vibrant and inclusive workforce which is reflective of the communities in which we operate. In the 2011 'Our Voice' employee survey, 94 per cent of people felt that we support provide a working environment that is accepting of differences in cultural backgrounds and lifestyles. Our people section provides a breakdown of
Our commitment to embracing flexible working has expanded beyond the minimum requirements outlined in the new Fair Work Act, to provide all employees with the opportunity to request flexible working arrangements. Our people section explores our how our employees feel about workplace flexibility and what we are doing to provide a more flexible workplace.
Our aim is to increase the percentage of women in management roles to 40 per cent within the next five years. Our people section explores how we will achieve this goals and provides details on our gender breakdown, including remuneration ratios.
|Caring for our employees
This year, 94 per cent of employees said they think that Stockland cares about the health and safety of employees and the same number reported they have a good understanding of their health and safety responsibilities. Our people section explores
Learning and career development is an important part of maintaining an engaged workforce. Our performance in this area was measured in the 2011 'Our Voice' survey with over 80 per cent of employees responding favourably to the training and learning questions. This was 8 points higher than the Global High Performing Norm (GHPN). Our people section explores why our results are so high and how we will maintain them.
The 'Our Voice' survey results have again indicated that our efforts to communicate our sustainability strategy, performance and achievements were successful. Our people section explores how we are embedding sustainability in our day-today operations.