RELÁTORIO ANUAL 2015

People

ABOUT BRMALLS

Investing in our talent

Our employees are our most important asset and we believe that we have the best team in the Brazilian mall industry. Our position as the country's shopping mall leader, together with our accelerated growth plan attracts excellent professionals.

Investing in people:

BRMALLS ended 2015 with around 1,140 employees, 708 of whom work in the malls.

Our management team spends considerable time and effort on developing and recruiting professionals, externally, internally, through our referral program and trough the best human resources consultants in the market. We also have two strategic programs for attracting new talents:

Trainee and Internship Program

BRMALLS' trainee and internship programs were created to attract and train talented young people to become future leaders and hold strategic positions within the Company. Seven trainees from previous programs are now managers and another ten are company partners, three are superintendent and 10 are coordinators. The 2016 trainee program received 15,336 applicants, whom 64% had a matched profile and 02 were selected.

Greenbelt Training

Greenbelt is a Six Sigma certification that we offer to our trainees in order to develop an analytical, problem-solving, results oriented and complex mindset. The certification involves developing and presenting an intricate project where each pair of trainees must analyze a specific performance indicator and propose a plan of action to improve it according to the company's needs and goals. The projects are challenging enough to remove the trainees from their comfort zone so they can quickly develop new skills and mindset. The project must adopt the DMAIC methodology and, at the end of the year, it is presented to the senior management team.

Performance-based compensation

BRMALLS' corporate culture is based on merit and focused on results. Our employees are tested against specific targets, as well as through a 360° evaluation. Compensation is based on objective goals (80%). We establish a set of targets for each employee and our bonus program is tied to the achievement of individual and collective goals. In order to monitor performance, we implemented a performance management tool that measures the progress towards the established targets on a monthly basis and we hold monthly performance meetings to monitor this progress. The other 20% of the compensation is based on subjective goals "the 360° Performance Evaluation System", which is a mechanism for evaluating individual performance based on feedback from peers, as well as junior and senior management. The evaluation aligns the Company's culture and values with those of our employees and serves as a motivational tool by letting employees know how they are regarded by the Company and what is expected of them.

Stock Option Plan

We grant stock options to the Company's key employees. Our stock option plan seeks to retain these employees and align their interests with those of our shareholders, reinforcing the sense of ownership in our top managers. Currently there are 30 partners, including directors, managers and coordinators.

Development Programs

PDN: The Business Development Program aims to align and expand the "Shopping Mall" business in BRMALLS' vision, with lectures covering the mall industry and different areas in the company. It occurs every year and lasts for two days. Trainees, managers and superintendents attend the meeting.

PDL: The PDL (Leadership Development Program) was launched in 2011 and it is our most robust leadership training program. The program consists in three modules. BRMALLS and partner Mandelli Consultoria seek to develop our future leaders working on topics such as team management, leadership styles, confidence and others. The program consists in three modules: the first involves all our coordinators and seeks to develop a broader view of basic people management for employees that are having their first leadership experience. The second module is dedicated to our senior leadership, adding more in depth leadership topics trough self-knowledge and experience sharing. Lastly, the third module invites employees that have already taken the second module and seek to recycle all concepts introduced in the second while applying it to real life situation.

Excellence Programs

PES: The Excellence Program in Shopping center aims to standardize excellent processes, increase revenue, reduce costs and mitigate risks. The program consists of 9 phases, which are the malls' daily processes. The goal is to follow every process according to the PES manual while saving the evidence for it. Each phase is worth 1.000 points where 500 points relate to processes and the other 500 relate to results. There are 3 overall assessments measuring the execution of the processes and results. After measuring the indicators, the external auditing tests the validity of the processes and add up the points. The three malls that score the most points will be invited to the award ceremony where they will receive a trophy from our directors as well as a monetary prize.

PED: The Excellence Program in Development (greenfields and expansions) has the aim of identifying and disseminating best practices in order to achieve better results. It is divided in 13 phases such as construction phase and pre-operational phase. In this program the competition is not by malls, but by teams that represent a specific project. The team is composed by 8 people and it is led by a project manager and coordinator. The results come from three self-assessments and an external auditing. The three malls that score the most points will be invited to the award ceremony where they will receive a trophy from our directors as well as a monetary prize.