Our employees are our most important asset and we believe that we have the best team in the Brazilian industry. Our position as the country’s shopping mall leader, together with our accelerated growth plan, requires the continuous pursuit of talented professionals.
Investing in people
BRMALLS has around 2,370 employees, 2,000 of whom work in the malls. Our people management team spends 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 talents:
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. Ten trainees from previous programs are now managers and another nine are employed with the company. The 2012 program received 6,000 applicants, 12 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. We also introduced a Leadership Development Program aimed at preparing new leaders through individual coaching and academic training. We also have some programs focused on operational improvements, such as:
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 28 partners, including the first trainees.