Brmalls - Annual Report 2009

People Investing in our Talents Our employees are our most important asset and we believe we have the best team in the sector in Brazil. The Company's position as the leading shopping mall company and our accelerated growth plans require a continual search for talented professionals.

Investing in People
BRMALLS has 128 employees, of which 35 were hired during 2009, in line with the Company's rapid growth and continuous pursuit for the best people. Also, pursuing the Company's values, we promoted 15% of our employees in 2009. Our management team devotes a lot of time and effort to develop our professionals and we have two strategic programs to attract talent: trainee and internship programs. BRMALLS`s trainee and internship programs were created to attract and train talented young people to become future leaders and hold strategic positions within the company. We set up the first trainee program in the shopping mall sector in Brazil and launched in 2010 our fourth edition which had more than 8,500 applicants. To date, 33 people have participated in the program, 42% of whom were hired and are currently working in the company.

Compensantion based on Performance
Our corporate culture is focused on results and based on meritocracy. Our employees are measured on specific targets as well as on a 360º evaluation.We determine a set of goals for each employee and our variable compensation program is tied to the achievement of the individual and collective targets for the Company. To follow-up on team performance, we implemented a managerial performance tool that measures progress towards the Company target on a monthly basis. Monthly performance group meetings are held to monitor the progress towards achieving set goals. The company also uses a 360° Performance Evaluation System, which is a mechanism for evaluating individual performance based on feedback from peers, junior and senior management. This evaluation aligns the Company’s culture and values with the ones of the employees and act as a motivational tool so employees know how they are viewed by the Company and what is expected of them.

BRMALLS University
In 2009, we created BRMALLS University to provide our employees with training and skills on leadership, management, culture, operational excellence and business know-how. During the year, BRMALLS University held nine workshops and five online courses, available to all Company employees. Stock Option Plan
We grant stock options to directors, executive officers and senior managers. Our stock option plan seeks to retain senior management and employees and to align their interest with the interests of our shareholders, reinforcing the sense of ownership in our top management. A total of 18 employees participated in the program at the end of 2009.