We continue to focus on building an environment that helps support and further develop our most important asset – our people. We recognise that investing in our people is vitally important to produce high-performing teams that can deliver outstanding outcomes for our clients and shareholder.
At QIC Real Estate, we believe creating a diverse, inclusive culture fosters the delivery of these outcomes, and we continue to progress and launch new initiatives to develop our people.
We also have a highly successful and constructive relationship with Savills. Savills provides employees who work in our shopping centres under QIC General and Centre Management, as well as National team members in our Property Administration, Alternative Income and Marketing teams. As at 30 June 2022, we had 174 Savills employees working across our shopping centre assets.
While these staff are employed by Savills, we see them as part of our team within QIC Real Estate. We work closely with Savills to ensure that our HR policies are reflected across the employee base. As an example, during FY22 we extended QIC's offering of Inclusive Leadership training to Savills employees working in our shopping centres to ensure we provide an inclusive and seamless experience for guests at our centres.
1 Total QIC Real Estate employees excluding external consultants
2Maximum term employees on time-bound contracts
3 Project Workforce employees contracted to deliver a specific contract
At QIC, we believe that our people perform at their best when they feel valued, happy, healthy and encouraged to bring their whole and authentic selves to work every day. This year, QIC has progressed our diversity, inclusion and wellness strategy that supports our five strategic pillars of diversity and inclusion -gender equality, LGBT+, accessibility, cultural and linguistic diversity (CALD), and First Nations people.
This year, we strengthened our commitment to diversity and inclusion through the launch of our Diversity, Inclusion and Wellness Policy, which provides the framework by which QIC actively manages and encourages diversity, inclusion, and wellness. This is supported by the appointment of QIC’s inaugural Head of Diversity and Inclusion. This role is responsible for leading and delivering on our Diversity, Inclusion and Wellness strategy.
FY22 also saw the launch of QIC’s Domestic and Family Violence policy which supports those affected by, or those using Domestic and Family Violence with up to 10 days’ paid leave. Additionally, a Domestic and Family Violence e-learning module was made available for all employees to understand how to recognise, respond and refer instances of domestic and family violence and build awareness.
Over the past year, we launched Respect@QIC, a project that focuses on our position on, and response to, sexual harassment and other forms of unwanted behaviours in our workplace. As part of this project, listening sessions were conducted with external consultants to devise an appropriate suite of responses including policy, training and support.
We continue to deliver our Inclusive Leadership Workshop, which focuses on our five strategic pillars of diversity and provides employees and shopping centre staff employed by Savills with real life examples and practical actions to build on our inclusive culture in every interaction and conversation. In FY22, 9 Inclusive Leadership Workshops were held, which were attended by 116 QIC Real Estate and Savills employees. This represents 408 hours of training.
Our employee-led networks and working groups - Balance, QPride, Young Professionals, QLife and Reconciliation Action Plan (RAP) – continue to drive engagement and awareness.
The importance of these strategies and resulting initiatives continue to be a focus as we sustain our energy and momentum across the broad spectrum of Diversity, Inclusion and Wellness at QIC.
QIC’s Diversity and Inclusion Committee
QIC's working group for diversity and inclusion, which has representation from across the business (including several QIC Real Estate employees), met a number of times through FY22. This group helps shape QIC’s diversity and inclusion initiatives, provides feedback to the Board and Executive, and ensures that QIC’s pursuit of a truly diverse and inclusive workforce is embraced and sustained.
QIC Real Estate Gender Diversity Plan
QIC Real Estate established the Gender Diversity Plan in 2021, which is reviewed annually with the Senior Leadership Team (SLT). This plan documents the goals to increase female representation within all areas of Real Estate and promote targeted opportunity to help females succeed.
The key goals of this plan include:
Real Estate Female Sponsorship Program
In FY22, QIC Real Estate launched the inaugural Real Estate Female Sponsorship Program in partnership with PwC. The Program provided the opportunity for 12 emerging female leaders to be actively sponsored by a member of QIC Real Estate’s SLT.
The Sponsorship Program was a core achievement of the Gender Diversity Plan and aimed to build a pipeline of females to assume future leadership roles, increase the retention of our high-performing females within Real Estate, and improve the experiences of inclusion for females within our business. For Sponsors, the Program aimed to increase our inclusive leadership capability to support cultural change and provide an opportunity to strengthen and develop the behaviours and habits to successfully sponsor diverse talent.
Managing policies and practices
QIC's Human Resources & Remuneration Committee considers matters relating to human resource management policies and practices, including employee remuneration, performance management, organisational structure, and design and succession planning at the senior executive level and for other business-critical roles.
Performance and reward
The key feature of QIC's performance-based reward framework is that performance payments are linked to investment outcomes as well as to the individual's contribution to defined goals which reflect stretch targets. This includes ESG related goals for teams and individuals who play a leading part in delivering our ESG strategy.
To measure individual contribution, a formal Performance Management Program (PMP) exists for all employees which sets out processes for planning, communicating, monitoring and reviewing an employee's or team's performance and work-related behaviour. Performance related conversations happen regularly throughout the year and culminate in a formal annual review for all employees.
Ongoing assessment and approval of remuneration
The HR & Remuneration Committee advises the Board on appropriate levels of employee remuneration after conducting an annual review of corporate and individual performance and considering industry comparisons and independent advice. The Board then determines the remuneration of the CEO. An Employment and Industrial Relations Plan is approved annually by QIC’s shareholding Ministers as part of the SCI development process. This plan outlines people priorities and areas of emphasis for the coming year.
Senior Leadership Team
Through FY22, QIC Real Estate’s Senior Leadership Team (SLT) continued to play a crucial role in driving Real Estate’s strategy, which encompasses elements such as gender diversity and cultural alignment.
The SLT is a passionate group of 59 experienced professionals who each bring their diverse experience and skillset across the property sector to collaborate as a high-performing cohort. This team is brought together at offsites twice a year where they align on key organisational values to champion and cascade throughout the wider QIC Real Estate team. The SLT also connects each month to share key updates on business achievements and how we are measuring against our strategic goals.
QIC Real Estate’s Culture Ambassadors are a group of seven SLT members who play a significant role in leading, influencing and shaping our culture and gender diversity initiatives. During FY22, the Culture Ambassadors facilitated culture workshops across Real Estate and were key in driving the team towards QIC’s new hybrid working arrangements, while partnering with the wider SLT cohort to ensure success.
The SLT continues to have a strong focus on inclusion and diversity, and delivered a number of actions through the Gender Diversity Plan to support this including:
Shopping Centre Management Mentoring Program
This year, we partnered with Savills to deliver the 2022 Shopping Centre Management Mentoring Program, which supported 21 mentor-mentee relationships. The mentee cohort was made up of Centre Management team members employed by Savills, with senior QIC Centre Management staff making up the group of mentors.
The program provides the opportunity for QIC Real Estate team members to create further avenues for growth.
500 Women in Property
QIC Real Estate actively endorses sponsorship of our emerging female leaders through industry programs.
We regularly participate on the Property Council of Australia ‘500 Women in Property’ Program. In FY22, five female QIC Real Estate employees were selected to participate in the program.
The RE Academy, a bespoke version of Salesforce's myTrailhead platform, forms part of our commitment to the ongoing development of our people and their learning.
RE Academy provides short learning modules on a range of aspects of the QIC Real Estate business, and has become a highly valued tool to assist with onboarding new employees and expanding the knowledge and skillset of current team members on our internal processes.
In FY22, 18 modules were added to the RE Academy, with QIC Real Estate employees completing a total of 4,179 modules.
QIC's training and development programs focus on common training needs across the broader business, as well as tailored opportunities for investment professionals. Sessions are provided in-house, online and externally, with referred and best practice providers. These programs continue to expand as the needs of the business evolve and some include:
QIC also provides every employee with access to virtual self-paced learning through LinkedIn Learning and virtual facilitated learning through MCI and ICML, as employee benefits to advocate continuous, self-paced learning.
A breakdown of training undertaken by QIC Real Estate staff in 2022 is provided in the table below:
|Total hours of training undertaken
|Total number of QIC Real Estate employees
|Total number of QIC Real Estate employees who completed training
|Percentage of employees who completed training
|Percentage of employees who completed ESG-specific training
Emerging Leadership Program
QIC's Emerging Leaders Program offers personal and professional development to its emerging talent. QIC has seen a very positive shift in leadership performance as a direct result of this investment. In addition, we have seen emerging talent step into levels of higher accountability and complexity.
In FY22, QIC Real Estate held a specific Emerging Leaders Program for the Real Estate team, which saw 58 team members participate in the program.
QIC embraces flexible working for all our people, which is brought to life through each person's unique circumstances. At QIC we trust, empower, and support our people through flexible working principles. In return, and through individual accountability and strong leadership, this trust and commitment is mutual – as measured through strong individual and collective performance.
QIC’s flexible work arrangements are a long-term approach across the business. Our people are encouraged to work 60% of their weekly work pattern in the office, and 40% remotely.
QIC also offers formalised access to flexible working arrangements and benefits for all employees to support them in balancing their work and home lives, with options including but not limited to compressed work weeks, part-time arrangements, variable working hours, paid parental leave for primary and non-primary carers (non-gendered), an additional week of carer's leave, and purchasing extra annual leave.
Employee Assistance Program
QIC recognises that employees may require additional support to help them manage personal and work pressures at various times and to assist with this, QIC offers an Employee Assistance Program (EAP) which provides confidential short-term personal counselling to all employees and their immediate family members.
QIC employs an outplacement services provider to help facilitate career transitioning and employability following instances of contract termination or redundancies.
QIC Real Estate understands that people are at the core of our success, and this is why as an organisation we are strongly committed to working together to provide a physically and psychologically safe environment for everyone who works for or comes into contact with our business.
The QIC Workplace Health & Safety (WHS) team remains a critical part of our business and has had a year of significant activity over the past 12 months. Some of the key initiatives and focus areas for the past 12 months are listed below:
Work Health & Safety Management System (WHSMS)
QIC's WHS management system standards were introduced in 2020 and are under review as part of the formal review cycle. Additional news standards and supporting forms have been released to support business practices.
A first line WHS audit and assurance program is being launched in Q3 FY2023 to monitor compliance against the QIC WHS management system.
QIC Real Estate established a WHS and wellbeing subcommittee which brings together a broad membership from senior leadership to centre management teams to focus on delivering initiatives to address WHS issues and/or risks identified from various data sources, such as incident reports, workplace inspections, etc.
Technology supporting safety outcomes
QIC further embedded a software solution to capture WHS incidents, contractor compliance and workplace inspections.
QIC Real Estate further strengthened its contractor prequalification checks by outsourcing this process to a specialist external third-party provider.
In FY23, we will be adding hazard reporting capability to the software platform. Training on hazard reporting has been delivered across the portfolio as part of National Safety Month activities.
Learning & training
QIC Real Estate, in partnership with Australian Institute of Management (AIM), have developed a Management Business Risk (WHS) module to contribute to national certification of Operations Managers and Service Managers. Content has been designed to focus on QIC process and management practice, ensuring training directly improves our business, providing a strong baseline for our teams driving a consistent approach across the portfolio.
We continue to build on WHS compliance and upskilling of our shopping centre personnel as part of an awareness training campaign being implemented in FY23.
To further support mental health awareness training that was deliver in FY22, QIC Real Estate have appointed a post incident crisis management provider to support centre teams following a traumatic event. This service was trialled after a self-harm event that occurred at one of our shopping centres.