Investing in our talent:
Our employees are our most important asset and we believe that we have the best team in the Brazilian industry.Ourposition as the country’s shopping mall leader, together with our accelerated growth plans, requiresthe continuous pursuit of talented professionals.
Investing in people:
BRMALLS has around 2,000 employees, 1,700 of whom work in the malls. In 2011, the Company hired 600 employees and promoted 300.
Our people managementteam expends considerable time and effort on developing and recruiting professionals, externally, internally and through our referral program.We also have two strategic programs for attracting new talent:
Trainee and internship program:
BRMALLS’ trainee and internship programs were created to attract and train talented young people to become future leaders and hold strategic positions within the Company. Five trainees from previous programs are now managers and another five are employed with the company.The 2011 program received 8,000 applicants, 20 of whom were selected.
Performance-based compensation:
BRMALLS’corporate culture is based on merit and focused on results. Our employees are tested against specific targets, as well as through a 360º evaluation. Compensation is based on objective goals (80%). We establish a set of targets for each employee and our bonus program is tied to the achievement of individual and collective goals.In order to monitor performance, we implemented a performance management tool that measures the progress towards the established targets on a monthly basis and we hold monthly performance meetings to monitor this progress.The 360º Performance Evaluation System is a mechanism for evaluating individual performance based on feedback from peers, as well as junior and senior management.The evaluation aligns the Company’s culture and values with those of our employees and serves as a motivational tool by letting employees know how they are regarded by the Company and what is expected of them.
BRMALLS University:
We founded BRMALLS University in 2009 to provide our employees with the necessary training and skills in leadership, management, culture and operational excellence.During the year, we held off-site workshops to strengthen our culture, align our focus and exchange best management and functional practices.Wealso introduced a Leadership Development Program aimed at preparing new leaders through individual coaching and academic training. We also have some programs focused on operational impovements, such as:
PDN: The business development program aims to align and expand the “Shopping Mall” business in BRMALLS’ vision, with lectures from the industry of malls and of areas in the company. It occurs weekly and lasts for two days.
PES: The excellence program in shopping center aims to standardize excellent processes, increase revenue, reduce costs and mitigate risks. The program consists of 12 phases, which are the malls daily processes. Each phase is worth 500 points and there are 3 overall assessments measuring the execution of the processes, self-evaluation, final and partial rankings. After measuring the indicators, the external auditing tests the validity of the processes and add up the points. There are two types of awards, non-monetary, which are trophies and a monetary one.
PED: The excellence program in development (greenfields and expansions) has the aim of identifying and disseminating best practices in order to achieve better results. It occurs annual and its divided in 12 phases. In this program the competition is not by malls, but by teams of 8 people, representing a project. The results come from two self-assessments and an external auditing, contributing for their company goals and throphy awards.
Stock Option Plan
We grant stock options to the Company’s key employees.Our stock option plan seeks to retain these employees and align their interests with those of our shareholders, reinforcing the sense of ownership in our top managers.Currently there are 25 partners, including the first trainees.