Lendlease Annual Report 2022

40 Lendlease Annual Report 2022 Our People Our people bring Lendlease, our purpose and our culture to life. Creating places where communities thrive. Lendlease has been certified as a Global Healthy Workplace. 1 Our refreshed people strategy continues to bring our purpose-led business strategy and culture to life. We are reinvesting in learning and careers, especially for our talent in the Investments, Development and Construction segments as well as our leaders. We have also updated our Short Term Incentive (STI) approach to further align outcomes with performance. We remain committed to growing and retaining our diverse talent and developing inclusive leaders while creating a caring and trusting culture where people feel valued, belong and have an opportunity to thrive. Our refreshed focus areas are: • Learning • Careers • Leadership • Culture The principles we will never compromise on continue to be: • A physically safe workplace • A psychologically safe workplace • Prioritising the wellbeing of our people and their families. Leadership To deliver our business strategy we need to continue to attract, develop, retain and invest in people. With the internal appointment of a new CEO, we have reset our executive leadership team. Our bench strength enabled us to do this by reaching into our succession pools with 57 per cent filled by internal talent. We are now focusing on replenishing these talent pools. This will be driven by a combination of targeted, bespoke development of top talent and the relaunch of our global flagship leadership programs in partnership with INSEAD. Many of our marquee training programs were paused during COVID and are being reinstated in response to feedback from our people. We continue to increase the representation of positions filled by women among our leadership cohort, with women now filling 31.8 per cent of leadership positions. Leadership positions held by women 31.8% 29.9% FY22 FY21 Careers We have mapped the career paths of existing employees and, coupled with development actions, have created career paths for future employees to emulate. Retention of key talent remains challenging in the current operating environment. While we achieved a retention rate of 87 per cent, this was below our target of 90 per cent or higher. We have identified talent retention as a key risk given the market remains extremely competitive. Early career talent is a critical component of our talent pipeline. We refreshed the learning component of our global graduate program to keep it appealing, contemporary and focused on capabilities to support the delivery of our strategy. The refresh has been well received, with a 19 per cent increase in program participants reporting a positive experience over the six month period. Our globally consistent program builds early career talent across each region, enhances future career mobility and provides future capability throughout the enterprise. 1. Global Centre for Healthy Workplaces 2022.