annual financial statement 2011 - conwert Immobilien Invest SE

Annual Financial Report 2011
Employees
Every single employee is a central success factor for the conwert Group. It was only because
of the exceptional commitment of each team member that conwert Immobilien Invest SE
realised another good annual result in a difficult market environment in 2011. Therefore, the
conwert management attaches great importance to creating an optimal working environment
for all conwert employees. In the past financial year, the focus was primarily placed on
further education of executives, young managers and all new employees. The career
academy “conwert.karriere”, which was established in the year 2010, trained numerous
executives and young managers at the conwert locations within the leadership programme
“conwert.führung” in the financial year 2011. Priority was attached to seminars in the areas of
leadership, personnel development for these target groups. Overall, 15 persons successfully
completed training at the conwert academy in the year 2011. Employees were offered
courses in the areas of tenancy and tax law, IT, organisation, occupational safety, safety in
the case of fire, and first aid. Moreover, technical workshops and project management
training courses were held. Expenses for training and further education in the conwert group
totalled 103.0 T€ in the financial year 2011.
At 31 December 2011, the conwert Group employed 660 people (FTE) at 53 conwert
locations in six countries. Despite normal attrition and the outsourcing of individual segments,
the number of employees remained stable overall (2010: 656 employees). For example,
RESAG Insurance Broker was closed down, the activities of Lifestyle Living GmbH were
discontinued and individual alt+kelber sales companies were merged in the year 2011.
conwert hired 240 new employees in Austria and Germany in 2011, in order to meet new
market requirements and to optimally fill key positions. 75 employees worked at the group’s
headquarters in the past financial year, 95 employees for the RESAG Group in Austria and
435 employees for the alt+kelber Group in Germany. In the other regions, an additional
24 employees worked in order to provide optimal service for the portfolio locally. The slightly
lower personnel expenses of 35.3 million € in the financial year 2011 (2010: 38.2 million €)
essentially resulted from expiring management contracts and the related variable
remuneration.
Part-time models, and especially part-time models for parents, combined with flexitime are
intended to make the work place within the conwert Group even more attractive for
employees. In Austria and Germany, a total of 15 employees were on parental leave in the
year 2011 and 159 employees worked part-time. At the same time, conwert trained 20
apprentices in Germany.
Part of the annual salary of employees in management positions consists of variable
components. They depend to the accomplishment of group targets (EBIT target),
interdepartmental targets and individual targets, which are renewed annually. In terms of
social benefits, pension subsidies exist for long serving employees. In Austria and Germany,
conwert invests in a provision for the future for employees. Life and accident insurance was
provided for the Executive Directors.
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