Act reliably
Our Annual Report
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Our Objectives
Target achievement: For our traineeship programs, we were able to achieve our target of keeping the number of trainees at a consistently high level and further increasing the number of trainees from 617 in 2022 to 632 trainees in 2023 – a new record for Vonovia. This corresponds to a training rate of 5.3% (for Germany).
Target for 2024: Vonovia is striving to maintain a consistently high number of trainees and even increase them throughout 2024. We are planning to hire 309 new trainees at the start of the new training year in the fall (for comparison: 293 new trainees were hired in 2023).
We will also be adding to our training and further education opportunities in 2024 with the opening of our trade academy in Berlin, which will focus on the trades of plant engineer, electronics technician, painter and tiler, and provide us with the capacities we need to provide optimal training and education conditions that meet the latest standards.
Medium to long-term target: In the medium to long term, Vonovia aims to position itself as a leading training company in the housing industry and to retain both its young and experienced employees by providing them with career prospects that are tailored to their individual circumstances. We also intend to continuously expand our broad range of training offers to make these formats accessible to even more occupational groups and segments of our workforce.
Challenges, Opportunities and Risks
Opportunities
The ongoing advancement of training and development programs, along with the creation of individually tailored career paths, provides Vonovia employees at all levels with long-term growth prospects. This also allows us to demonstrate that we are an attractive employer and helps us to attract and retain the best talent.
Risks
Given the shortage of skilled workers and the evolving dynamics in the workplace, the associated qualification requirements pose a partial risk for us, particularly in technical trades. To effectively mitigate this risk of skill shortages, we continuously adapt our training and educational programs, along with other offerings, to create an appealing, contemporary work environment. This proactive approach is part of our regular risk assessment and comprehensive human capital development initiatives, supported by a progressive corporate culture. Consequently, we assess this risk as low in terms of potential loss and probability of occurrence.
Opportunities
The ongoing advancement of training and development programs, along with the creation of individually tailored career paths, provides Vonovia employees at all levels with long-term growth prospects. This also allows us to demonstrate that we are an attractive employer and helps us to attract and retain the best talent.
Risks
Given the shortage of skilled workers and the evolving dynamics in the workplace, the associated qualification requirements pose a partial risk for us, particularly in technical trades. To effectively mitigate this risk of skill shortages, we continuously adapt our training and educational programs, along with other offerings, to create an appealing, contemporary work environment. This proactive approach is part of our regular risk assessment and comprehensive human capital development initiatives, supported by a progressive corporate culture. Consequently, we assess this risk as low in terms of potential loss and probability of occurrence.
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Management Approach
As a residential real estate company operating throughout Europe, we aim to leverage our scale and decentralized business operations across various areas to establish excellent training and educational conditions. At Vonovia, we therefore offer a wide range of attractive career paths - from traineeships or dual work-study programs, focusing on various commercial career paths, trajectories in the manual trades to development offer, specifically designed for current employees and managers. In the area of training, this is to be supported by a concept for setting up and expanding training workshops for manual trades at various locations in Germany in the future. Our Vonovia Academy is the central point of contact for all employees for all matters relating to the training and qualification programs offered by the company. In addition to classic training formats – such as e-learning, online, hybrid and in-person – materials for on-the-job learning and peer learning formats are also available. Thanks to the wide range of development measures provided, our employees are able to complete targeted professional, methodological and personal training and obtain professional certifications or qualifications. Targeting specific business areas and roles with selected measures ensures that the training concepts are tailored to meet the requirements of our workforce. New training courses, curated learning content and guidelines are continually being added to the wide range of programs to ensure that current and future requirements are met.
This wide range of training and learning opportunities, which covers various technical specializations, represents one of the key elements of our human capital development strategy. The Management Board is responsible for managing and monitoring the implementation of this strategy and the achievement of related targets.
We utilize it to systematically develop our employees' skills and knowledge in a targeted fashion with respect to their specific roles, functions, and individual needs. The annual employee survey provides us with direct feedback, which then helps us to further develop and design our training offers and programs. We strive to promote a learning and leadership culture that encourages all employees to unlock their full potential.
Our Contribution to Training and Personal Development
Unser Beitrag zu Ausbildung und persönliche Entwicklung
Links
- We have set out our ESG performance along with the most important key figures relating to training and development and performance review in our ESG Factbook 2023
- You can see how we have performed in various ratings and benchmarks here
- You can find further information on training and development in the Employee Issues section of the Annual Report 2023
- Learn more about training and development on our career website
- Click here to visit our download center for all commitments and guidelines
- You can find our Code of Conduct here
- Here is information on the General Act on Equal Treatment (AGG)