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Our People

With accountability and courage as the cornerstones of GPT's target culture, our goal is to equip GPT's employees for high performance and to shape the future in order to deliver on GPT's purpose of maximising the financial potential of Australian property with solutions that fulfil the aspirations of our investors, tenants and communities.

2014 Highlights

  • Further enhancement of GPT’s Talent Development platform with the enhancement of our high potential initiatives, alongside the Talent Action Program - all designed to support the engagement, retention and development of high-potential talent across the Group.
  • Commencing the implementation of an integrated Human Resource Information System (HRIS). The HRIS will facilitate the automation of core HR processes and offer enhanced employee and manager self-service options, therefore enabling the People and Performance team to support the organization in a more scalable way.
  • Enhancement of the on-boarding experience for new employees through the development of a refreshed Induction Program. The three month program (in place for all new recruits from January 2015) leverages a blended learning approach and combination of workshops, eLearning modules, mentoring and on-the-job activities to drive the productivity of new team members and ensure they feel supported in their new work environment.
  • The internal recruitment function continues to recruit > 80% vacancies directly thus continually minimising recruitment spend.
    • 34% of all roles filled in 2014 were internal placements or promotions.
    • The average time to fill vacancies is approximately 25 days.
    • In 2015 GPT welcomed 4 Award Interns who are in their final year of studies at UWS (2 Property students and 2 Business students) and due to graduate in 2015 & 2016.
    • In 2015 GPT also welcomed back 5 indigenous interns who will work during their summer and winter uni breaks to gain work experience in their field of studies.

GPT’s Culture

GPT's people are well-educated, professionally respected and respectful of each other. Our sense of purpose – to maximise the financial potential of Australian property with solutions that fulfil the aspirations of our investors, tenants and communities – is underpinned by GPT’s culture and values, which are:

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GPT’s values were defined in May 2011, through a collaborative approach drawing on employees from all areas and all levels of the business. As part of a culture renewal program in place since this time, GPT has been focused on continuing to evolve and enhance its culture to support the achievement of strategic objectives, and create a positive working environment for our people. We now believe our distinct culture is a source of competitive advantage for GPT, as well as a major factor in why many people choose to work with us.

In 2014, GPT has been focused on embedding and strengthening the culture which our people have worked hard to create over the past three years. Examples of initiatives in place to support this objective included:

  1. Enhancement of GPT’s Induction Program to ensure new employees understand GPT’s culture, values and strategic direction.
  2. Deeper integration of GPT’s cultural expectations into the annual Performance Appraisal process, through stronger measurement of behaviour in line with our values. This ensures our employees are accountable for both what they do (performance objectives) and how they do it (behaviours).
  3. A continuation of the GPT Values recognition program, designed to foster and celebrate behaviour in line with our values. The program includes peer-to-peer recognition as well as company reward and recognition in the form of quarterly and annual awards
  4. Monthly People Manager communication forums for our people leaders, recognising the significant role this group plays as custodians of GPT’s culture This is coupled with team based forums to support two-way communication and ensure feedback from our employees  is heard and acted upon by leaders at all levels.
  5. The GPT Opportunities program, which provides our people with short-term secondment and project-based opportunities across the business, enabling learning, growth and driving greater diversity in capabilities across our talent base.

Challenges and Outlook

Delivering on Growth – The ambitious growth agenda set out in GPT’s strategy has begun to come to fruition with the acquisition of significant assets accompanied by an increase in our employee base. This has tested the Groups systems and processes which have coped well. The Group has revamped our approach to induction and onboarding to facilitate the rapid assimilation of new employees into our culture and business, ensuring that there is no loss of productivity. The outcome is a business that has both grown and matured and more importantly developed scalability to cope with the growth to come. As we approach full utilization of our existing office space our commitment and ability to work in an Activity Based Work will be an advantage that should enable us to ensure that our rental costs are optimized.

Progressing our Diversity agenda – Implementation of GPT’s Diversity strategy gained further momentum in 2014, with the establishment of a Diversity Working Group chaired by the CEO. The focus was on increasing opportunities for networking among female employees both internally and externally. In addition, the Group participated in the PCA’s women in property mentoring program, providing further support to the career aspirations of females in our sector. Specific initiatives were also taken to ensure a balanced gender representation among our talent development programs. Ensuring balanced gender representation on recruitment shortlists saw a number of senior female appointments to the Group, and enabled an increase in the percentage of women in senior leadership from 27% to 34% by years end. The Group will need to remain focused and make further inroads in promoting workplace flexibility if we are to achieve our 2015 target of 40% female representation in senior leadership.  The Group’s engagement with Career Trackers has improved our understanding of the issues and challenges in Indigenous employment, and continues to encourage the Group to take further steps to realize our goals. Pleasingly, progress is being made to tap into the pipeline of Indigenous talent and the Group is well on track to reach our target of 2.5% representation by the end of 2015. 

Prioritising Talent – GPT’s  growth agenda has led the group to heighten the focus on our key talent, that is, those individuals who exhibit high potential and deliver consistently high performance.  The talent action planning program that was introduced in 2014 saw the group retain 95% of the participating individuals, and has continued on into 2015 with several new additions. The Group views this proactive and more holistic approach to the development planning, career management and  investment in our key talent as a key strategic advantage enabling us to  accelerate the growth of these individuals and ensure that GPT retains a highly skilled and motivated pipeline of future leaders and expert contributors. More importantly, it sends a strong signal to the employees of their value to the Group.

Resourcing effectively – The disintermediation of the employment market, on the back of the rise of online platforms such as Seek and LinkedIn, continues to gain momentum. GPT’s decision to internalise recruitment has yielded substantial cost benefits to the business and opened up new pathways to procure talent, particularly from industries and companies outside the traditional AREIT sources. Our capability to rapidly resource key roles at a low cost is a significant advantage to the Group, and reached new levels of effectiveness in 2014. Direct interaction with potential hires also ensures that the GPT culture and employee value proposition are leveraged much earlier in the recruitment process enabling more consistent management of our brand and Values.

Increasing alignment of Executive Remuneration –There continues to be moderation in growth of executive remuneration.  GPT’s Board has been particularly pro-active in making structural changes to the distribution of incremental revenue between employees and investors, seeking to rebalance toward a fairer share for investors. At the same time, innovative structures promoting security ownership and linking employee rewards to the movement of the GPT security price over the entire annual performance period have elevated alignment with investors. While pay levels at GPT remain competitive from a total compensation perspective, GPT will continue to work to ensure that all aspects of our employee value proposition (EVP) are articulated and accessible to GPT employees. 

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