From the very beginning CA Immo International employed people with experience in the real estate business. The know how for investment decisions, due diligence processes, purchasing negotiations and asset management is available in-house. Even before the IPO, action was being taken to restructure the internal organisation in order to establish an ideal personnel platform for the envisaged growth.
Immediately after the successful IPO, the employees engaged in the Eastern European business were transferred from the Group parent to CA Immo International. As of 31 December 2006 CA Immo International employed 11 people at headquarters in Vienna, primarily in acquisition and asset management positions. Staffing in these areas, as well as the project development business unit, continues to be expanded. In Budapest, Warsaw and Bucharest, CA Immo International maintains its own management companies, whose activities encompass asset, property and facility management, as well as accounting. The Budapest office employs 20 people, the Warsaw company 33 and Bucharest 3 people. CA Immo International recently established a local office in Belgrade as well.
Experience and know-how are the key drivers of success in the real estate sector. For this reason CA Immo International seeks to offer its employees stimulating working climate and to retain their services long-term. The very low fluctuation rate in recent years illustrates the success of these endeavours. Sick leave, which is recognised as an indicator of employee satisfaction, is very low at just 0.86% of the daily target.
In order continuously to develop and update its employees expertise,
CA Immo International invests a lot in training. As regards subject matter, the focus is on developing the employees‘ specialist knowledge, as required by the type of business activity. This includes knowledge of the legal and tax systems of the company‘s target markets, the market‘s characteristics, and these countries‘ economies. The balanced training programme also embraces language courses and personal development seminars.
The salaries paid by CA Immo International are commensurate with the market. In addition, the company pays performance-related bonuses. If the targets agreed with the Supervisory Board are met, the employees receive a pro rata bonus of up to 10% of their annual salary, depending on the extent of target fulfilment. Senior employees also participate in a bonus scheme that is linked to the company‘s growth and earnings. In addition, for employees who have been with the company for a certain number of years, CA Immo International pays into a pension fund.
In 2006 the staff expenses totalled € 716,900, including performance-related payments of € 120,400. In the previous years
CA Immo International did not have any employees.
In 2007 CA Immo International is pursuing its dynamic growth strategy with renewed vigour. This dynamism will be reflected in the company‘s organisational and personnel development as well. It will be investing systematically in its human resources during the current business year. Among the tangible effects will be the establishment of further management and control functions, and the reinforcement of the management companies in the target markets.