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.
We believe creating a diverse, inclusive culture fosters the delivery of these outstanding outcomes and we continue to progress and launch new initiatives to develop our people.
In addition, we have a highly successful and constructive relationship with Savills. Savills provides the majority of employees who work in our shopping centres. There are currently 197 Savills employees working in our shopping centres.
1Total QIC Global Real Estate employees excluding external consultants
2 Maximum term employees on time-bound contracts
3Project Workforce employees contracted to deliver a specific contract
4Approximate only of External Consultants based in QIC Global Real Estate corporate offices.
The data contained in this section has been compiled from employment records.
QIC’s working group for diversity and inclusion, which has representation from across the business, met several times through FY19. This group helps shape QIC’s diversity and inclusion focus 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.
The committee’s focus areas, targets and performance are as follows:
|Inclusion||At least 80% of our people think the culture in their team is positive and inclusive, measured annually||83%|
|Flexibility||At least 80% of our people have formal or informal flexibility in their work routine, measured annually||89%|
|Reconciliation||Implementation of our Reconciliation Action Plan||Reflect RAP launched|
|Gender balance||Gender balance across QIC to be +/- 5%||
|Gender balance in the senior leadership of QIC to be +/- 10%||
|Board gender balance of 50/50 composition by 2020||
|Gender pay equity||Within +/- 2% average compa ratio, measured annually||0.24%|
As part of our Diversity and Inclusion Strategy, QIC’s QPride network was established in 2019 to bring together our colleagues who are allies of, or who identify as members of the LGBT+ (lesbian, gay, bisexual, transgender) community. At QIC, we are committed to creating an inclusive environment where every voice is valued and respected, where differences are embraced, and our people can bring their true selves to work each day.
Managing Director of QIC GRE, Michael O’Brien, is one of two Executive Sponsors within QIC for QPride, and is a vocal supporter of this new initiative.
QPride aims to:
In 2019 and in partnership with PwC, QIC launched the Inclusive Leadership Program to be delivered across the business with learning outcomes that include:
Inclusive Leadership is the behaviours that are exhibited every day. Our commitment to amplifying these behaviours is delivered through the Inclusive Leadership Program.
QIC’s HR & Remuneration Committee considers matters relating to human resource management policies and practices, including staff remuneration, diversity and inclusion, performance management, workplace health and safety, organisational structure and design and succession planning at the senior executive level and for other business-critical roles.
Although there is no legal requirement to do so, QIC has implemented a Workplace Health and Safety (WHS) Policy, demonstrating strong safety leadership from Senior Management and setting high level WHS expectations of everyone in QIC, including employees, contractors and visitors. The purpose of the Policy is to provide a written statement of QIC’s commitment to WHS. The Policy underpins the supporting procedures and processes that are contained with the WHS Management System, helping to build a strong safety culture.
QIC’s WHS Management System has been updated in accordance with AS/NZS ISO 45001 Occupational health and safety management systems – Requirements with guidance for use, which is the International Benchmark Standard for WHS Management Systems.
A performance-based reward framework links staff performance payments to both investment outcomes and individual contribution to defined key performance indicators, measured through a formal annual performance management program (PMP).
The HR & Remuneration Committee conducts an annual review of corporate and individual performance, taking into account industry comparisons and independent advice, which is provided to the Board and advises the shareholding Ministers. An Employment and Industrial Relations Plan is also approved annually by our shareholding Ministers as part of the Statement of Corporate Intent development process.
QIC supports ongoing professional development for all staff, as part of their PMP and career development plans.
A range of professional development is also offered regularly to QIC staff, which complements business unit technical specialisations with an emphasis on transferable skills toolkit facilitated by external professionals. These programs continue to expand as the needs of the business evolve, and include:
QIC has also rolled out LinkedIn Learning to all staff to encourage continuous learning offering access to over 14,000 courses and video tutorials covering business, leadership and technology topics or creative hobbies.
A breakdown of training undertaken by GRE staff in 2019 is provided in the table below:
|Total hours of training undertaken||3,603 hours|
|Total number of QIC GRE employees||304 employees|
|Total number of QIC GRE employees who completed training||295 employees|
|Percentage of employees who completed training||97.04%|
QIC continues to build a culture that is oriented on trust and delivery of outcomes and encourages all employees to determine the flexibility requirements that are unique to them. QIC offers formalised access to flexible working arrangements for all staff to support them in balancing their work and home lives, with options including working from home, paid parental leave, caring for elderly relatives, variable working hours, and salary sacrificing for extra annual leave.
In addition, as part of QIC’s focus on flexibility, diversity and inclusion, our staff can switch out a public holiday for a day of cultural significance.
QIC is proud to offer a Leave Standard which ensures we have a leading approach to care for our employees. Updates to QIC’s Leave Standard made last year, particularly the extension to eligibility for primary carer’s parental leave to more strongly encourage co-parenting in the early years of a child’s life/adoption, have had a positive impact on staff up-take of flexible working options across both Australia and in the US.
We are pleased to report that overall instances of parental leave participation doubled in the FY19 year. In addition, over 89% of employees agree that QIC allows them to incorporate formal or informal flexibility into their work routine (as measured in December 2018 through QIC’s annual ‘Pulse’ employee survey).
QIC aims to provide a safe and healthy work environment and helps individuals manage their own health and reduce risks, through initiatives including healthy heart checks, ergonomic assessments, flu vaccinations, skin checks and weekly fruit baskets, plus access to discounted health care and an annual allowance to contribute towards healthy living expenses.
QIC employs an outplacement services provider to help facilitate career transitioning and employability following instances of contract termination or redundancies.
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.
QIC has over 398 young professionals in Australia alone, representing approximately 37% of our workforce.
In January 2019, QIC reached out to young professionals across QIC to find out their thoughts on leadership, QIC as an organisation and how to make it an even better place to work. Some of the common themes that emerged from the survey were:
These themes were presented to the Executive Committee during their February offsite in a session led by members of the Young Professionals Committee and inform the initiatives of the 2019 program such as:
QIC GRE 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. Part of this commitment is the appointment of a GRE National Health & Safety Manager.
This position has been created to lead the Australian Global Real Estate Safety function and support GRE with achieving strong outcomes in WHS across all its workplaces. The role is responsible for providing specialist WHS information, training and advice to assets and staff, as well as supporting, monitoring, administering WHS practices across GRE and facilitating consultative forums as required.
QIC was created in 1991 by the Queensland government to serve its long-term investment responsibilities and has grown into a leading long-term specialist manager in alternatives.