Employees – satisfied employees contribute to the employer’s success
We owe our successful business development and our strong growth primarily to our committed and reliable staff. Next to our significant portfolio expansions, we have also grown in terms of number of people employed. As of the end of 2021, Peach Property Group employs almost 200 staff compared to less than 120 at of the end of 2020. To support our future growth, we will need to recruit more qualified professionals and are therefore constantly in the talent acquisition process.
We value regular exchanges between employees and supervisors. Regular department or site assessments, briefings in connection with performance, and downloads around the general state of mind of our employees increase motivation and bring more structure to an average workday. We again managed to carry out personal performance reviews in 2021 with all our employees despite the increase in employed staff. We are convinced that an integrated and tangible feedback culture is an important tool for measuring employee approval and it enables us to identify potential conflicts at an early stage which allows us time to defuse such potential conflicts through appropriate cooperative measures.
Diverse teams are known to work in a more efficient and creative manner. Diversity is valued at Peach Property Group and we employ balanced teams in terms of gender, age and cultural backgrounds. Inclusion is furthermore an integral part of our human resources policy. Handicapped individuals do not experience disadvantages either in the application process or as employees in teams. From October 2021, we have employed five employees with handicaps in Germany.
Overall, female staff represent 51 percent of the Peach Property Group workforce. In 2021, 36 percent of managers were female. In terms of Executive Management, the female proportion of zero percent is well short of the target ratio. We are striving for, and willing to create more gender diversity on our Board of Directors, and Executive Board over the next years.
We have set the goal of ensuring equal compensation opportunities, with equal qualifications for men and women as part of our sustainable personnel development. At 84 percent (total remuneration) and 86 percent (basic salary), the wage ratio between female and male staff across the entire workforce is still slightly below the target range of 100 percent. At management level 3, the ratio is slightly higher at around 93 percent, measured both in terms of base salary and overall remuneration.
With respect to the age profile of our workforce, we have found that a healthy mix of different age groups leads to more agility within teams. The age group of between 29 and 48 years is best represented among our employees. Around 15 percent of females and 7 percent of males are younger than 28 years. 14 percent of females and 13 percent of males are older than 49. The average age of our workforce in the current financial year was just below 40 for both female and male staff.
Having healthy employees that are working in a secure environment is our top priority, regardless of the recent focus brought by the pandemic. In 2021, as in 2020, we report no occupational accidents at work. A further measure of employee approval is days lost due to absentees. With around 4 percent in 2021 our absentee rate is low. Group-wide, this translates to an average of around 10.4 days lost per employee. We remain below the Germany average absentee rate of 11.2 days.
Our employees are free to join worker’s unions and have full freedom of association in accordance with the applicable legal framework.
We are furthermore socially engaged outside of the Group and promote equal opportunities through social commitments in clubs located in some of our local communities. In Heidenheim, for example, we have been sponsoring a local sports club to provide children from economically disadvantaged backgrounds free access to sports activities. With free access to sport activities, we encourage participation in regional social structures and the community. In the current financial year, we made a similar commitment by supporting the women‘s handball club in Ludwigsburg. We value these projects and aim to increase our involvement in similar projects even more in the future.
|Total female proportion of workforce:||51 %|
|Proportion of female managers:||36 %|
|Proportion of females on the Board of Directors and in Executive Management:||0 %|
|Female:Male wage ratio:||84 %|
|Employee turnover rate:||18 %|
|Absentee rate:||10 days|
|Lost days rate:||0|
|Social engagement projects:||2|
The complete EPRA Sustainability Performance Measures in the area of Social can be found in the appendix to the Sustainability Report. (Download Sustainability Report)
UN SDGs relevant to us in the area of employees