Dexus aims to achieve an engaged and motivated workforce by:
- Developing its people
- Reviewing and rewarding achievement
- Providing a safe and enjoyable place to work
- The most material issues related to Dexus's workforce are:
- Diversity and Inclusion: An inclusive workplace with a diversity of views is a driver of competitive advantage. Diversity means valuing an individual's race, colour, gender, age, religious belief, ethnicity, cultural background, economic circumstance, human capacity, expression of thought and sexual orientation as well as their experiences, skills and capabilities to create a business environment that encourages a range of perspectives
- Workplace health and safety: Dexus recognises that it has a duty of care to its employees, as well as investors, tenants, agents and the wider community to ensure all work health and safety risks are appropriately managed. Dexus values its employees and recognises the importance of their health and well-being to drive performance
- Employee engagement and retention: Dexus is focused on creating and supporting a culture where employees are engaged and enthusiastic about the business and their own development
- Training and development: Dexus supports the ongoing learning and growth of employees by providing a structured learning and development environment. Dexus views personal development as a key component of recruiting and retaining a talented workforce
Management objectives and goals
Dexus promotes communication and transparency throughout the business to ensure its people are aware of the goals and outcomes required to deliver the Group's business strategy and progress key objectives.
Dexus's employee-related goals are to:
- Develop a high-performance culture
- Make Dexus an attractive place to work
- Enhance Dexus's industry standing and help deliver sustained value
- In order to deliver these objectives, Dexus has four strategies:
- Invest to develop a great culture
- Invest to develop great leaders
- Enhance the People & Culture function to enable employees
- Engage, retain and attract the right people
A set of team values enables employees to make informed decisions that create value for investors. Dexus believes these values describe the key characteristics of a positive working environment:
- Excellence: Doing a great job
- Integrity: Doing the right thing
- Empowerment: Enabling others
- Innovation: Thinking differently
- Collaboration: Working and growing together
Employee management is delivered by the People & Culture and Compliance, Risk & Governance teams. The People & Culture team coordinates the recruitment, training, welfare management, engagement and satisfaction of employees. The Compliance, Risk and Governance team oversees employee-related policies and the compliance management framework which maintains an ethical workplace free from harassment, bullying, bribery and corruption.
Dexus's People & Culture approach
The Dexus Group Management Committee (GMC) is the leadership team responsible for delivering the strategic direction. The Executive General Manager (EGM) People and Asset Solutions has overall operational responsibility for Dexus's employment, labour management, training and education policies.
Policies and proceduresDexus invests responsibly in its people and provides a safe, flexible and enjoyable work environment. Dexus policies guide employees through workplace issues. These policies include:
- Employee Code of Conduct
- Human Rights Policy
- Diversity Principles
- Press and Media Policy
- Work Health, Safety and Liability Policy
- Security Trading Policy
All employees are provided with an Employee Handbook, which describes Dexus's policies and position on social issues, including: workplace behaviour, health and safety, discrimination, harassment, bullying and victimisation, drugs and alcohol consumption, civic duty, community engagement and volunteering, and counselling and employee advisory support.
Dexus's intranet also provides additional guidance to employees about the use of policies, process workflows, escalation processes and governance structures.
Diversity and InclusionDexus is committed to supporting a socially and culturally diverse workplace. This helps create a culture that is tolerant, flexible and adaptive to the changing needs of the environment. This approach applies to Dexus employees as well as the Board.
Dexus has established a Corporate Responsibility, Inclusion and Diversity Committee chaired by the CEO to promote workforce diversity and to further the Group's community commitment. The committee oversees the Group's corporate responsibility programs and leads the business inclusion and diversity activities.
The Board sets diversity targets and monitors progress against these targets through the People & Remuneration Committee.
Dexus frequently engages with its employees to get their views on promoting and managing diversity. Policies and practices with diversity principles include the Recruitment Compliance Policy, reward and recognition programs, talent management processes, learning and development programs, work-life balance and flexible work practices. These policies and processes are reviewed annually.
Dexus provides paid parental leave and continuity of superannuation throughout unpaid parental leave to assist employees to manage their personal and work commitments. It also supports a smooth transition from full-time parenting to returning to work, either part-time or full-time.
Dexus recruits based on merit, so that the most appropriately qualified and experienced person is employed for each role. The Group does not tolerate discriminatory behaviour in its recruitment or people management processes. All managers involved in recruitment and selection processes are appropriately supported and trained. Professional intermediaries are also made aware of the Group's diversity commitment where they are retained.
Dexus publishes annual workforce demographics on the diversity profile of its Board and senior management. This includes a breakdown of role type and seniority by gender.
Flexible work environment
Dexus strives to create a work environment which encourages and promotes a healthy work-life balance, and offers flexible working hours to support this.
Workplace health and safetyDexus has a comprehensive workplace health and safety program.
The Group's Work Health, Safety and Liability (WHS&L) policy governs the health and safety of employees, investors, tenants, and the community. The policy governs the development, management and monitoring of tailored WHS&L risk management systems, training of personnel, and designation of responsibilities and resources to meet program obligations. It also governs the Group's Return to Work policy for injured employees, and monitoring, evaluation and reporting of Dexus's WHS&L performance.
The Group uses a safety management system that is certified under BS OHSAS 18001, an internationally applied standard for occupational health and safety management systems. Through this system, Dexus comprehensively monitors the health and wellbeing of employees and manages solutions to prevent workplace incidents.
Dexus's support goes beyond minimum compliance and reflects its commitment to employee well-being. In particular, Dexus provides structured counselling and employee advisory services to support employees and manage mental health issues. Services include:
- Presentations to employees regarding identification and management of mental health issues
- Ongoing professional assistance via an external counselling and advisory services for employees and their families to manage personal or work related problems
Health and safety programs are subject to annual external audit and improvement plans are monitored by the Office & Industrial Leadership team and the Compliance, Risk and Governance team. Health, Safety and Environment is also overseen by the Board Risk Committee and the Board.
Training and professional development
Dexus has a detailed training program aimed at enhancing the skills and knowledge of its people. A Training and Education Policy outlines the framework for training employees with a focus on:
- Ensuring that the employee has and maintains the necessary knowledge, skills and experience required to perform their job functions and responsibilities fairly, honestly and efficiently
- Developing new knowledge and skills
- Updating knowledge and skills for changes to legislation, regulatory policies and standards, company policies and procedures, economic and financial developments, new products and new market practices.
- Ensuring compliance with relevant industry training standards and qualifications
- Increasing awareness of Dexus's Compliance policies and expectations relating to ethics and integrity
Managers undertake skills gap assessments for each employee to ensure they have the necessary capacity, competence, knowledge, training, seniority and skills to perform their role.
Training plans are prepared and implemented to maintain and update employee skills and knowledge. Activities include executive coaching, a mentoring program, study assistance and a talent management process designed to foster employee development. Dexus also sponsors a number of employees to complete their undergraduate and postgraduate courses, management and vocational qualifications.
Training activities also extend to developing the capabilities of the Group's partner providers, including onsite training of facilities management teams in the operation of enhanced building management systems and customer service.
Employee performance management
Employees undertake annual performance appraisals with their managers to:
- Evaluate progress against their current year's performance against set targets and objectives
- Agree with their manager on targets and objectives for the coming year
- Agree on a personal development plan
Dexus uses a Balanced Scorecard methodology to manage executive and employee performance. The system measures contribution and achievements against threshold as well as stretch and outperformance targets. It also motivates all leaders and employees to strive for outperformance with their teams.
Key performance indicators (KPIs) are developed for each employee, in collaboration with their manager, to provide a measurable yardstick against actual performance. KPIs vary for each employee depending on their role, however all employees' KPIs include set KPIs which align with organisational goals values.
Divisional performance reviews
Divisional performance reviews are conducted twice a year against divisional focus areas. Performance is evaluated against strategic objectives and assigned KPIs. The year-to-date progress, next steps, and priority assessments are then reviewed for each objective. A Divisional Scorecard displays the status of each focus area, with an organisation-wide scoring system to generate a divisional rating of performance.
The GMC receives progress updates every quarter against the People & Culture strategic objectives for the year. The report includes the status of each focus area, performance highlights, activities underpinning each objective, and relevant workforce statistics, forming the basis for performance and strategy improvements.
The People & Culture team also uses a Team Scorecard to monitor and manage its performance. The dashboard displays the overall progress in areas of Leadership, Culture, People and Function. For each aspect of People & Culture, the dashboard reports status of progress towards targets for the year, as well as some headline metrics and other metrics. The Scorecard enables the team to identify underperforming areas, and modify strategies to address them accordingly.
Dexus conducts leadership development programs to enhance the capabilities of management and to drive commercial and cultural change. Dexus's leadership program develops individualised leadership plans that target improvement in specific behaviours, skills and knowledge. An online performance management system is used to manage and improve leadership abilities of managers, and facilitate employee self-development. The Group's newer people managers participate in Dexus Management Essentials, which equips new leaders to meet team leadership and role responsibility challenges.
Directors attend facilitated education and training events to meet their Continuing Professional Development requirements and contribute to their obligations set by the Australian Institute of Company Directors (AICD).
Employee attraction, engagement and retention
Attraction, engagement and retention of employees is an integrated and continuous process.
The Group Management Committee implements the talent management process and the People & Remuneration Committee oversees this process.
Dexus's recruitment model incorporates the following aspects:
- Promoting opportunities internally first in order to aid career development and retention
- Utilising new recruitment technology to support an enhanced best practice recruitment process
- Operating a careers website to capture talent pools for key job segments
This model provides an efficient way to access to a diverse range of talent pools, enabling the Group to attract the best people in an effective way.
Dexus engages with its employees in an ongoing way through various internal forums including whole of company presentations, the intranet and email communications.
An annual Employee Opinion Survey asks for anonymous feedback to assess employee engagement and culture. The results of the survey are communicated to the organisation as a whole and to individual teams, with management and their teams adopting solutions to drive improvements to the work environment.
Reward and recognition
In order to attract, motivate and retain talented employees, Dexus rewards employees who contribute to the success and growth of the organisation. Dexus's remuneration structure is based on:
- Market competitiveness
- Alignment of performance payments with achievement of financial and operational objectives that support the Group's risk framework and values-based culture
- A targeted mix of remuneration components including immediate performance payments and deferred performance payments linked to returns over the longer term
The Board People & Remuneration Committee reviews trends in employee reward structures and strategies in other comparable companies. The annual employee remuneration review considers gender pay gaps to support diversity.
Evaluation and process improvement
Dexus's employee management strategy outlines the following measures of success:
- Dexus's great culture and people are recognised externally
- The right people want to work for Dexus and build their careers
- The culture drives performance and is aligned to investor and stakeholder needs
Dexus regularly evaluates its overall strategy and employs a number of mechanisms to monitor its performance against strategic objectives, report progress to the GMC, and drive continuous improvements in performance and processes.