Valuing Our People

Embedding sustainability

Embedding Corporate Responsibilty and Sustainability (CR&S) into business activities is one of the focus areas of our CR&S strategy. In FY09 we implemented new policies and initiatives in our Residential and Commercial Property businesses, and introduced a requirement for all employees to include a CR&S aspect when setting performance objectives.

Incorporating CR&S objectives into our performance management framework

In previous years employees were encouraged to include CR&S objectives in their performance plans. However, this was not fully adopted across the business. To improve the overall quality of employee objectives, a requirement for a separate CR&S objective was introduced in FY09. In addition to this, objectives were also set in areas including business and financial results, stakeholder engagement, teamwork, and health, safety and environment. This change to our performance management process has increased employee understanding of CR&S. Ninety nine per cent of employees undertook performance evaluation in FY09. We will continue to build understanding of CR&S as part of the setting of employee objectives in FY10.

Embedding CR&S in our Commercial Property business

Significant progress was made in FY09 on introducing stakeholder engagement plans for all shopping centres. The stakeholder engagement plans help us understand community issues during the planning, construction and delivery phases of shopping centre developments.

Stakeholder dialogue has also begun with presentations made to senior executives with responsibility for asset management, marketing, leasing, finance, developments and human resources to help further their understanding of key issues and strategic priorities for the future.

Embedding CR&S in our Residential and Retirement Living businesses

The Residential sustainability strategy includes a focus on consistent operating standards and embedding sustainability practice. Internal communication of the strategy has included presentations to staff in Queensland, New South Wales and Victoria. A training module was designed in June 2009 for development managers and commenced in July 2009. This module requires all participants to undertake a self-assessment on the performance of their projects against key initiatives in each of the focus areas identified in the Residential sustainability strategy.

The revised Residential sustainability policy also includes objectives and actions that must be included in the performance management role accountabilities for business development and acquisition managers, development managers, design managers, marketing managers and sales employees.