We aim to enhance the value we create by forming positive relationships.
Enriching our value chain is about how we manage our risks while working with our employees, our suppliers and other key partners. When we work in collaboration with our stakeholders, our outcomes are strong and relationship prosperous.
We are committed to developing and maintaining strong relationships with a broad range of stakeholders across our diverse business. We practice open, honest, two-way communication. And we recognise the mutual benefits that result from this genuine engagement for both our business and our stakeholders.
Our primary stakeholder engagement target is to maintain 100% of active development projects with Stakeholder Engagement Plans.
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Sustainability governance serves to support and guide sustainability leadership and provide responsibility and accountability across all our business activities. Sustainability leadership at Board and executive level is critical to ensure that sustainability management and performance is integrated into our culture, processes and business relationships.
Our primary governance and risk management target is to continue to embed and enhance organisational resilience in relation to crisis management and emergency response plans in FY17.
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Effective management of our supply chain enhances our long term business performance as it enables us to identify and address key environmental, social and governance risks and opportunities which fall within our scope of asset development yet beyond our operational control.
Our primary supply chain management target is to implement our Sustainable Supply Chain Charter to provide guidance on setting and delivering specific supply chain initiatives.
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The Stockland Green Hills Connectivity Centre, launched in June 2016, is one example of how we are working with our business and community stakeholders to achieve more sustainable outcomes for all.
The $372 million redevelopment of Stockland Green Hills in the New South Wales Hunter Valley is expected to be complete by April 2018. The centre will more than double in size to around 70,000 square metres and will feature the first new format David Jones department store in the region, and around 225 specialty shops with a vibrant new dining and entertainment precinct. The redevelopment will generate more than 1,350 direct jobs during construction and over 1,250 permanent, full time jobs in retail and hospitality once completed.
Recognising that unemployment is a major issue for local youth, Stockland joined with construction partner, Brookfield Multiplex and undertook extensive stakeholders discussions about what kind of assistance would be of most enduring value.
The resulting Stockland Green Hills Connectivity Centre is a whole-of-community response. For the first time in the Hunter region, jobactive providers, led by youth not-for-profit yourtown, along with Maitland City Council, local employers and community groups, have come together to support and assist those most disadvantaged by unemployment, linking them to job opportunities generated by the Green Hills redevelopment.
Importantly, the Connectivity Centre is focused on finding jobs today as well as creating pathways and training so that people will be job ready for years to come. The centre provides a space for candidate screening, training and job-matching to support employment in construction and retail jobs. It also hosts programs designed to instil vocational skills, build confidence and provide exposure to business culture and mentoring.
The Connectivity Centre is located next to the Stockland Green Hills construction site at 4 Molly Morgan Drive and is staffed by yourtown, five days a week. The centre has been built by Stockland and Brookfield Multiplex with site sub-contractors donating the fit out. Additional funding has been secured from the NSW Department of Industry for resourcing the centre. As at 30 June 2016, more than 200 expressions of interest had been received from people seeking employment across a range of fields and 34 referrals had been made to contractors with vacancies.
At Stockland we recognise that the key to sustainable competitive advantage is our people. We acknowledge that the ability to engage and retain valuable employees is critical to our overall business performance. Employees that are engaged are more productive, more passionate and more inspired to innovate and deliver above and beyond standard performance.
Our primary employee engagement target is to outperform the Australian high performing norm employee engagement score of 80% and increase women in management to 50% by 2020.
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Stockland recently launched a flexibility program called Flexibility@Stockland to give all our employees the opportunity to openly discuss and access flexible work options.
As explained by Mark Steinert, Stockland Managing Director and CEO: “All roles at Stockland can be flexible, and this initiative is aimed at ensuring there is no stigma associated with flexible work arrangements. As a company we are focused on outcomes, not hours at the desk.”
This could mean doing ‘One Simple Thing’ such as starting later to drop kids off at school, taking a longer lunch break once or twice a week to go to the gym or working from home once a fortnight. Or it may mean making more formal flexibility arrangements such as working part time or job sharing to improve wellbeing.
Recently, each member of the Stockland Executive Committee shared the ‘One Simple Thing’ that they have introduced to improve their work-life quality. This ranged from leaving early a couple of days a week to share dinner with the family to taking time out at lunch to exercise.
Employees were encouraged to discuss and document their ‘One Simple Thing’ or their existing flexible arrangements with their manager at their mid-year performance reviews. Approximately 25% of our employees utilised some form of flexibility arrangement prior to this initiative, and we have now seen a further 36% of employees introduce a flexibility arrangement into their working week.
Teams regularly share examples of flexibility options that have been adopted by employees to promote the mainstreaming of flexibility and encourage others to explore flexible work options.