Challenges, Opportunities and Risks
GRI
Challenges
- The ongoing construction boom and the steady influx of people into urban areas have been dominating the real estate sector for some time now. These social developments also present Vonovia’s HR management with continually changing duties. The transformation of the company also brings new challenges along with it, such as the integration of new subsidiaries. In particular, the high annual recruitment figures that we are aiming to achieve in order to be able to cover our need for staff require a great deal of commitment.
Opportunities
- The diversity in our employee structure, which is shaped by the many different cultural and social backgrounds of our employees, helps to strengthen our employer brand, supports our customer orientation and enables us to provide better support for our tenants – for example, in their native language.
- Compared to other large companies, especially the DAX 30 companies, Vonovia’s training rate in Germany (we do not provide training in Austria or Sweden) is well above average at 5.0%. This high training rate allows us to respond comparatively well to the tense situation on the labor markets.
5%
training rate
Risks
- The number of applications is falling, while the quality of applicant profiles is declining and applicants do not meet our requirements. This can result in increased financial and staff outlay to recruit suitable employees.
- Tense labor markets, especially in the trades, mean that there is no guarantee that skilled and management positions can be filled to meet the demand and provide the services we offer. It is becoming even more important for Vonovia to position itself as an attractive employer.
- Public debates on Vonovia’s business model have as yet only affected isolated cases of employee recruitment.