Training and Development
Investa's learning and development philosophy is to provide and fund job-specific professional and technical development required by the business and to support professional and career development initiated by the individual. Training needs are formally identified by employees and their manager during our bi-annual performance review process. Employees are encouraged to be proactive in managing their training and development needs.
All employees regardless of their work status are able to participate in training. All Investa-led training initiatives are scheduled to assure maximum attendance of our remote, part-time and casual workforce.
Investa supports employees' formal education and training through our Continuing Education and Study Assistance Policy. Investa provides financial support to those employees for course fees and/or textbooks.
Annually in October, Investa awards a recipient the PJ Carney Memorial Award. The annual PJ Carney Memorial Award celebrates the essential qualities of Peter Carney's (a founding Director of Investa) contribution to Investa and to society, being "the pursuit of excellence and intellectual rigour to be applied to everything we do or contemplate". A grant of $7,500 is awarded; all employees are eligible to apply. In October 2006, 20 applications were received; due to the high calibre of applicants our Managing Director awarded two additional grants of $5,000 each.
Training incorporates a mix of internal customised programs and external programs to ensure relevance and currency of learning. Recent training facilitated to all Investa employees includes:
Harassment and Discrimination Training – 'The Right Side of the Line' was:
- delivered nationally in seven office locations during March 2007 with a 92% attendance;
- designed to ensure employees understand and comply with appropriate standards of workplace conduct and encourage a positive work environment in which all employees feel respected and valued; and
- those who were unable to attend will be provided the opportunity in 2008, when a refresher program will be facilitated.
Note that despite our focus on training in this important area, there were no incidents of discrimination identified.
Performance Review Training – 'Making the Most of the Review Process' was developed as feedback from employees told our Business Leaders and HR team that employees wanted to know more about how the Performance Review process worked at Investa. This training was:
- delivered nationally in seven office locations during July and August 2007, just prior to our annual review process; and
- designed by Investa's HR team as a customised training program to teach employees generally about both the process, and how we can make it work better at Investa, ensuring employees and managers understand what is expected of them and how the process is a critical tool to ensuring the successful performance of the business.
In all these ways, training helps to build the capacity of employees at Investa to do their jobs and to contribute to the Group's sustainability platform. The focus for the future will be to build on management development and employee capability training provided to employees.
Performance Management
Investa runs a bi-annual performance review process. Performance goals and targets are set incorporating the following dimensions:
- focus of the goals include financial and non-financial targets;
- frequency of goal setting takes place formally on an annual basis. Employees and their managers adjust the goals regularly as they are achieved or the 'reality' changes;
- goals should be set as realistic and achievable, which most employees can meet. There are three (3) measures of performance which recognise varying levels of performance; and
- cascading goals and targets are set from the Group level to individual level, to ensure transparency, alignment and clarity of Group outcomes and individuals contribution to the success of the business.
Employee input and ownership for their goals and targets and performance is encouraged through an informal employee self rating process, as part of the formal bi-annual review process. 100% of employees receive regular performance and career development reviews. [LA12]
Commitments for Financial Year 2008
Through the following initiatives and a focus on continuous improvement the HR function will assist the business in creating a 'high performance culture'.
Performance Management
- Ongoing regular training for all employees to improve their understanding and use of Investa's process and tools.
Training and Development
- Develop and implement 'Investa Training Matrix' to assist all employees and managers to identify relevant compliance and job specific training as well as development opportunities.
- Implement a competency framework which will provide a common language to communicate development needs for people and assist in career planning.
- Ongoing supervisor, management and leadership training to improve the ability of managers at all levels to achieve results through people.
Case Study
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