EMPLOYEE ENGAGEMENT AS A DRIVER FOR CHANGE
Maintaining a high team spirit
2021 was another challenging year for keeping collective spirits high and energy up. We missed seeing each other in our offices and catching up face to face on a regular basis. As the COVID-19 pandemic continued to impact our daily lives, we all acknowledged that the working routine would remain hybrid at best for the foreseeable future and that we needed to continue to engage and inspire from a distance.
Redevco team spirit
A whole host of activities were organised, from a professional live stream event to kick off the year and informative summer school sessions to fun pub quizzes and books being sent to all our colleagues at home. We also organised a virtual book club for everyone in the organisation, inviting the author of ‘The Long-Distance Teammate’ to talk to us and answer questions on this topical subject. And we proved that laughter really is the best medicine when a comedian joined us to ‘roast’ Redevco and our management team. Staying connected through shared philanthropy was also a significant theme in 2021. Our employee philanthropy programme All Good was a great platform for this. Donations and matching grants can be made all year round through All Good, so it has never been easier to contribute and support causes that are close to our hearts and highly valued and appreciated by our people.
Through EcoMatcher, we planted a Redevco forest in Nepal and allocated three newly planted trees to every colleague by way of a gift. Visit the entire Redevco forest via this link. Trees are considered the lungs of the world and help to reduce global warming. New trees are also a symbol of new life in some cultures, making this the perfect gift to ring in the New Year with our employees.
Joining a new team can be daunting at the best of times, and in the middle of a global pandemic it is even more challenging. Though our preference would certainly have been to onboard all our new colleagues face to face, we are happy that the 33 new employees that joined us this year were very positive about how Redevco welcomed them to the team. Our focus as an organisation on sustainability, philanthropy and health and well-being are the aspects most often mentioned by new colleagues as being unique and engaging.
Emma Megarry, Investment Manager in Amsterdam on her first few weeks at Redevco:
“The organisation of the introductory calls was fantastic. It was brilliant to meet such an array of personnel from across the business and to get visibility with the management team in my first few weeks. This was particularly valuable as we were working remotely.“
Adam Forster, Development Manager in London on what surprised him when he joined Redevco:
“Lots of companies declare a green agenda and their intention to be more sustainable, but now that I am on board, I regularly see Redevco demonstrate a genuine sustainability ambition way beyond the token greenwashing that is so widespread.“
In 2021, we extended our onboarding procedure, adding a survey after the first three months followed by three-way discussion between the new employee, their manager and HR. This additional step aims to
ensure everyone settles in well and to identify ways to continue improving the onboarding experience.
“Redevco decided to establish the NextGen Board in its efforts to promote an inclusive culture, to acknowledge
the value of diversity and to harness talent.”
Diversity & Inclusion
Formalising our existing ethos in a Diversity & Inclusion Policy in 2020 put this topic firmly on the agenda for 2021. We are very proud therefore to present our first NextGen Board! Redevco decided to establish this board in its efforts to promote an inclusive culture, to acknowledge the value of diversity and to harness talent. For details of the NextGen Board’s activities and responsibilities, see the Case Study. For details on gender and age, please see our Annex in the PDF version of this report.
As an important input for our leadership team, we regularly take our people’s “pulse” through the Redevco Pulse check. In such an extreme situation as with the pandemic, with many societal concern around health & well-being, the economy and other factors, we were not surprised to see a slight dip in the November 2021 results around the topics of positive momentum and confidence in our progress. Nevertheless, we have taken these results very seriously and will intensify our efforts to connect and communicate with our teams around these and other challenges which impact our people, markets and business results. The average engagement index score from Redevco Pulse was 85% in 2021.
Every six months we ask our people to share their feedback through 10-15 questions about Redevco in a short focused and anonymous survey. It is their opportunity to voice thoughts and ideas that can help shape and influence their own work environment/ experience. The survey contains three blocks; the Engagement Index, questions about our strategic priorities from the Board and Country- or Function specific questions from each local Management Team. The Engagement Index contains questions about pride and motivation and provides us with a single overall score that we can track over time, providing us with an engagement ‘pulse’.
Maintain high engagement of our employees - KPI: Average engagement index score from Redevco Pulse
Health and well-being
It stands to reason that in another year marked by the worldwide health crisis, health and well-being were key topics for Redevco in 2021. In response to this, we launched a new approach to flexible working. Transitioning back to the office required us to explore again what it will mean in terms of flexibility in time and place once all COVID-19 restrictions are behind us and we settle into a ‘new normal’. Equipped with lessons learned from a year of remote working, as well as intense engagement with and feedback from colleagues on their experiences of it, we had some fairly clear ideas on what the updated Working from Home Policy could look like. As a next step, we checked some of our assumptions with our people through the Pulse survey.
In defining our way of working going forward, it was important to strike a balance between the input colleagues provided in the Pulse survey – specifically around flexibility – whilst ensuring that we maintain a strong team and company culture and enabling effective remote working and team collaboration from various locations. Our collective view is described in the document ‘Balance & Flexibility’ and provides guidance on a new way of working for our organisation.
Learning & development
We strive to stimulate our employees’ continuous professional and personal development through a wide range of global and local initiatives. The backbone of the online offering, our Redevco Skills Builder learning platform, was upgraded again in 2021 with new content to ensure it remains relevant and varied. Programmes promoting leadership excellence included webinars with the Remote Leadership Institute for global leaders and learning tracks for leaders and managers combining online learning with webinars. One-on-one coaching also has a high uptake in the organisation, fuelled by positive feedback from colleagues about their experiences. The launch of the Asset & Development Management Learning Calendar in 2021 added further engaging activities, with Lunch & Learn and Masterclass events bringing colleagues together to share knowledge and actively discuss relevant issues. 95% of employees participated in training courses or development programmes in 2021.
“We strive to stimulate our employees’ continuous professional and personal development through a wide range of global and local initiatives.”
Get the best out of our people by giving clear feedback and guidance on performance - KPI: % of employees having received regular performance feedback
Professional development of our employees - KPI: % of employees participating in training courses or development programmes