Act reliably
Our Annual Report
Our Objectives and Key Performance Indicators
Key performance indicators and target achievement: The percentage of women in management positions is one of the six key performance indicators for our Sustainability Performance Index (SPI). We use this as a foundation for our ongoing efforts and to provide specific measures aimed at promoting women and ensuring equal opportunities within our company.
The percentage of women in the top two levels below the Management Board currently sits at 24.2% across the Group.
We are driven to enhance our performance in this area through specific measures, such as targeted development programs aimed at promoting women.
Target for 2024: Vonovia plans to increase the percentage of women in management positions (first and second management levels) to 29.1% in 2024.
Medium to long-term target: In the long term, we are aiming to achieve an even higher percentage of women in our workforce as a whole (currently slightly less than 29%) – particularly in the technical trades – with the percentage of women in management positions continuing to meet the 30% target.
Challenges, Opportunities and Risks
Opportunities
By consistently promoting diversity and equality, in particular by increasing the number of women in management positions and engaging in targeted recruitment of specialists from abroad, we can build skills throughout the entire workforce, while improving our appeal as an employer by fostering a diverse corporate culture.
Risks
If we fail to make ongoing efforts to promote diversity, we could lose valuable perspectives, knowledge and skills, which would negatively impact our overall ability to innovate and our appeal as an employer. There is also the possibility that an overly homogenous corporate culture will make us less able to adapt to rapidly changing market requirements and thus jeopardize Vonovia’s ability to remain competitive in the long term. We have included this risk in our risk catalog, and currently consider it to have an very low amount of loss and a very low probability of occurrence (<5%).
Opportunities
By consistently promoting diversity and equality, in particular by increasing the number of women in management positions and engaging in targeted recruitment of specialists from abroad, we can build skills throughout the entire workforce, while improving our appeal as an employer by fostering a diverse corporate culture.
Risks
If we fail to make ongoing efforts to promote diversity, we could lose valuable perspectives, knowledge and skills, which would negatively impact our overall ability to innovate and our appeal as an employer. There is also the possibility that an overly homogenous corporate culture will make us less able to adapt to rapidly changing market requirements and thus jeopardize Vonovia’s ability to remain competitive in the long term. We have included this risk in our risk catalog, and currently consider it to have an very low amount of loss and a very low probability of occurrence (<5%).
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Management Approach
Vonovia adheres to international standards and guidelines, such as the UN Global Compact and the core labor standards of the International Labor Organization (ILO), and has been a signatory to the Diversity Charter since 2013, with this charter underpinning the measures we take. For us, a key lever for improving diversity within the company is the targeted promotion of women, which was identified as an important area for action at top management level and has since been monitored using the SPI indicator “percentage of women in management positions”. In addition, we recognize that our company’s long-term success can only be secured, if we also strive to achieve a more diverse workforce overall. Our aim is therefore to ensure that diversity criteria play a greater role in our recruitment process. We therefore also integrate the talent and expertise of employees and skilled workers from abroad or from refugee backgrounds into our various business areas and work to make their professional start at Vonovia as easy and seamless as possible. These approaches are accompanied by targeted efforts to raise awareness and training – both at the level of the workforce at large and at management level – to ensure tolerant and open interactions within our teams and in the workplace.
Our Contribution to Diversity and Equal Opportunities
Unser Beitrag zu Vielfalt und Chancengerechtigkeit
Links
- Click here to visit our download center for all commitments and guidelines
- We have set out our ESG performance along with the most important key figures for the percentage of women in management positions/the workforce, the gender pay gap, parental leave and cases of discrimination in our ESG Factbook 2023
- You can see how we have performed in various ratings and benchmarks here
- You can find further information on the topics of diversity and equal opportunities in the Employee Issues section of the Annual Report 2023