Annualised training days per employee
Training spend as % of payroll
Valuing our people
Capability development
Training and personal development is an important contributor to employee engagement. Our performance in this area continues to be rated highly by our employees. The 'Our Voice' survey conducted in April 2009 showed over 75 per cent of participants responded favourably to the training and learning and personal development questions. These results are consistent with the Towers Perrin-ISR Global High Performing Companies Norm.
We provided around three training days per employee in the reporting period and continue to budget 2.5 per cent of payroll for training annually. Our capability development strategy this year responded to the economic environment and needs of the business. This included building internal training capability, encouraging on-the-job development and developing cost-effective training. As a result, our training spend as a percentage of our payroll declined, largely as a consequence of this increase in internal training.
In FY09, we focused on:
- Delivery of manager programs to build capability and ultimately reduce employee turnover,
- Broadening understanding of options for employee development,
- Embedding leadership attributes.
Inspiring Manager Training Series
The Inspiring Manager Training Series includes mandatory half and one-day programs for our people managers, which are run three to four times a year. This year we ran programs on Objective Setting and Development Planning, Conducting Performance Reviews, Manager as Coach, and Skills for Managing in Challenging Times. The series aims to empower our managers to develop capability in their teams and address employee turnover.
The Managing in Challenging Times program was developed in response to organisational needs following the reduction in employee numbers in early 2009. The session helped managers understand the recent business changes and provided guidance on how to deal with change, both individually and as a team.
Embedding leadership attributes
Business leaders complete a 360 degree assessment on our 12 leadership attributes. Over the past year the aggregate scores for leadership team members have increased for each of the 12 leadership attributes. This feedback instrument is administered by Development Dimensions International (DDI). Our leadership team meets or exceeds the DDI 50th percentile Global Executive Norm for nine of the ten attributes, where this external benchmarking measure is available. Leaders who participate in the assessment create action plans to support their development.
Our leadership capabilities were recognised when Natalie Moore, State Sales Manager, Residential, was chosen as AFR BOSS magazine's Young Executive of the Year 2009, which names six of the best young leaders in corporate Australia with the skills, talent and drive needed to make a successful leader.
Gateway Retail Management Program
We partner with the Macquarie Graduate School of Management for the Gateway Retail Management Program. Gateway, a year-long course, offers a theoretical and practical approach to the specifics of retail management at Stockland. The program provides participants with the skills and knowledge needed to be a centre manager. Eleven participants in the inaugural program completed the training in late 2008.
Compliance training
Online Trade Practices and Privacy training sessions are run every two years. This training was run in FY08, and selected employees have been enrolled to complete both modules in July and August 2009.
We also held online Equal Employment Opportunity training in June and July 2008. This training comprises three modules: Discrimination, Grievance and Harrassment. Thirty-one per cent of employees undertook the training at the end of FY08, and the remainder completed it in early FY09. All employees are currently enrolled to complete this training again in July and August 2009.
2009 Peter Daly Fellowship
The Peter Daly Fellowship provides employees with the opportunity to travel overseas to investigate an initiative that will help bring our business closer to being world-class in a key focus area.
Almost 40 people, working in teams, applied for the 2009 Fellowship. The winning team examined social sustainability and ways that we can better engage with our stakeholders to ensure we take their points of view into consideration in the development of our projects. Working towards social sustainability will enhance our brand awareness, lead to the creation of developments that are quick to market yet mindful of our stakeholders' interests, and will position us as a leader in policy and best practice development.
The research involved travelling to the United States, Canada and the United Kingdom to benchmark our projects against leading international practice. The research was conducted in April and May 2009 and recommendations for the business are now being developed.