Annual financial report 2013

HUMAN RESOURCES

In the medium term, Cofinimmo is concerned with the development and

well-being of its staff. At every moment of their professional evolution,

the company is attentive that every employee benefits from a technical

knowledge update as well as opportunities for personal development. In

the longer term, conscious of its responsibility, the company is devoted to

ensuring that employees approaching retirement find their jobs challeng-

ing, but free of future worries.

Moreover, Cofinimmo focuses on promoting diversity and equal opportu-

nities among its staff. The staff members are invited to get involved on a

societal and environmental level both individually and collectively.

MANPOWER

On 31.12.2013, Cofinimmo employed 113

employees (average age 39years), of

whom 52% are university graduates and 28% are post-graduates. In full-time

equivalent, this represents 106.8 people. About 57% of the staff work in client

and portfolio management, with the remaining personnel employed in sup-

port activities.

The staff total breaks down into 69% female and 31% male employees. In

2013, nine staff members were taken on, with six departures and two long-

term absences. Absenteeism remains at less than 2% of the total number

of days worked.

DIVERSITY

Cofinimmo initially obtained the Diversity Label in 2010 and now works to

maintain its commitment in this area, which is reflected at a number of

different levels:

•

that of recruitment, by strengthening the interactions with young

people in particular;

•

that of human resources management, by offering coaching and

training (generative individual coaching and team coaching);

•

that of the company’s external positioning, by continuing actions

involving networking and gathering testimonies on the issue of diversity.

REMUNERATION

The remuneration packages offered by Cofinimmo are determined by ref-

erence to the market remuneration for similar posts. The salary is based

on identical criteria for each employee, while taking into account an objec-

tive job classification. It includes a retirement benefit plan, a profit-sharing

scheme and, since 2009, a non-recurrent bonus linked to the results of the

company. The profit-sharing scheme amounted to €392,730 in 2013. The

members of the Group’s Executive Committee and Management benefit

from a stock option plan designed to cement company loyalty by allying

their interests with the results of the Group. In 2013, a total of 3,320 stock

options were granted, representing a fair value of €363,900 (see Note 43).

NURTURING TALENT

Year after year, Cofinimmo pursues its efforts to nurture talent, aware that

its human capital constitutes a major strength which is likely to differenti-

ate it from other firms in the same sector. Having obtained the Investor In

People (IIP) label, Cofinimmo has, for six years, been underlining the essen-

tial deployment of knowledge. The Human Resources department, along with

the line managers and staff, draws up a personal development plan covering

languages, information and communication technologies, technical sub-

jects and soft skills

. In tandem with the more traditional training courses,

the company offers its staff, in a targeted manner, the opportunity to pur-

sue longer-term training at post-graduate level, both in Belgium and, more

exceptionally, abroad.

Special attention is devoted to the manager coaching and leadership

aspects. Each year, managers develop their skills in these areas, enabling

them to meet the needs and expectations of their staff.

In 2013, almost 80% of staff took one or more training courses, representing

a total of 4,116hours and a budget corresponding to close to 2% of the gross

payroll, breaking down evenly among all employees (men/women/young/

old, etc.). Out of a total of 515days of training courses taken by employees, 26

were dedicated to the different themes of corporate responsibility, diversity

management, the environment, the energy performance of buildings and

sustainable development.

WELL-BEING AND SATISFACTION

In 2012, Cofinimmo’s Investors In People label was renewed for the third

time. It is now the first Belgian company to have achieved the Silver

sta-

tus. Wishing to maintain the label in the coming years, Cofinimmo contin-

ues to improve and develop in a variety of areas essential to the motiva-

tion and commitment of each of its employees: transparent and proactive

communication; assessment, feed-back and reward processes; individual

and team coaching; training culture; work/life balance; accountability; etc.

Cofinimmo’s objective is to achieve the Gold status by 2018.

PERFORMANCE ASSESSMENT

Wishing to meet its staff’s expectations, Cofinimmo asks its managers

to hold (at least) two formal assessment interviews per year. The annual

interview, taking place at the end of the year, reviews (after the self-as-

sessment of the staff member) various generic and specific skills and the

level of adhesion to the company values. It is also at this time that the

manager, in agreement with the staff member, determines the objectives

for the coming year and the means to achieve them (training, equipment,

support, coaching, etc.). These objectives are in line with the corporate

objectives set by the Board of Directors.

INTERNAL COMMUNICATION BY MANAGEMENT

Regularly and openly, management undertakes proactive, dynamic commu-

nication with all its staff. In this it presents:

•

the Group strategy and its reorientations and the chain reaction

which the strategic choices have at the level of the individual

objectives;

•

the annual and half-yearly results, as well as the forecasts for the

coming years;

•

the significant acquisitions and sales.

To achieve this, although it gives preference to dialogue and meetings, it

also takes advantage of tools that allow each of its staff to have access

to all of the essential information for understanding the company and its

activities. Cofinimmo in this way encourages the sharing of information

between its various entities. This interdepartmental interaction reflects its

desire to cultivate a true team spirit, one of its three corporate values.

Including two employees in the Netherlands.

Communication, speaking in public, conflict management, etc.

IIP has four levels of assessment (Basic, Bronze, Silver and Gold), each defined by an ever higher threshold of employee satisfaction and development.

Management Report

Corporate Social Responsibility

100