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Our people

Employees profile 2021 in Argentina

As of June 30, 2021, we had 1,251 employees. Our Development and Sale of Properties and Other Non-Shopping Mall and Offices Businesses segments had 9 employees. Our Shopping Malls and Offices segments had 590 employees, with 261 represented by the Commerce Union (Sindicato de Empleados de Comercio, SEC). Our Hotels segment had 652 employees, with 520 represented by
the Tourism, Hotel and Gastronomic Workers Union (Unión de Trabajadores del Turismo, Hoteleros y Gastronómicos de la República Argentina, UTHGRA).

 

 

EMPLOYEES BY PROVINCE

The Company is responsible for the workplace conditions and for the professionals’ safety and quality of life. Therefore, the Company meets labor and social security obligations, and ensures access to proper workplace conditions, housing, lodging, personal protection equipment, among others.

The Company also offers training to employees, and topics include professional qualification, education about the environment, occupational
health and safety.

“Work scheme and actions taken during COVID-19 pandemic”

 

Suppliers


The Company purchases to and / or contracts with suppliers of both goods andservices. Our suppliers can be small regional companies as well as multinational companies, 99% of them of national origin. The relationship between the Company and its suppliers are in accordance with market conditions: The best alternatives of purchases or hiring allow comparisons of different proposals, aligning as long as they meet the expected service and / or technical requirements, both in the case of goods and services, always in search of better values for both shareholders and for its tenants.

All suppliers and contractors must comply with the labor and safety and hygiene regulations, technical regulations, and environmental ratings and practices applicable to their activity. To provide services, suppliers must present the documents indicating their compliance and are periodically audited in matters of safety at work. Compliance with the legal requirements of social security for large contractors (eg, cleaning, security and construction) is monthly audited.

 

Internal opportunities program

With the mission of motivating the promotion and internal development of collaborators and transparency in the selection process, we have an internal application program. This program allows for a vacant position to generate the possibility that a collaborator from any area / business of the company, regardless of the position, to apply.

It is communicated through the internal social network, detailing the position, the main tasks, the place and hours of work and if there are necessary requirements for the application.

 

Interchanges to other geographic locations

The company has properties in several provinces, which generate development opportunities and the possibility of changing the place of residence.

After going through the process of selection and acceptance of the proposal, Human Resources takes care of taking the necessary steps to accompany the collaborator in the process together with their families.

 

Learning

The Company offers all collaborators the possibility of continuing their training in different topics, be they technical, management and / or leadership courses that contribute to their professional development.

Some programs are developed with internal facilitators, consultants and / or educational institutions. Likewise, the company supports individual training initiatives for employees, covering the cost of technical training associated with their role in the company.

During the pandemic, we adapted our training programs to the virtual format, transmitting leadership content, conversational skills, how we work, improvements in our systems, how to give and receive feedback and how to be close at distance.


Languages

In order to professionalize, develop our teams and prepare for international expansion, we promote training and language study.


Scholarship Plan

We support the development of our collaborators by carrying out an annual scholarship plan so that they can expand their tertiary, university or postgraduate studies.

The scholarships can cover up to 50% of the cost of the monthly fees and tuition of private institutions.

Interested collaborators complete a requirement that is then analyzed and approved by a committee composed by Company Managers for this purpose.

The analysis takes into consideration the relationship of the studies with the responsibilities of the position, objectives of the area and the company, the chosen institution (public or private), the performance evaluation, the salary level, its development potential, and the application to their current or future job.

 

Financial Aid to finish High School

For those collaborators who have not finished high school, the company decides
to accompany them with a scholarship of 90% of the total cost (fees and tuition)
and the remaining 10% at the end of the studies.

The Company offers all collaborators the possibility of continuing their training in different topics, be they technical, management and / or
leadership courses that contribute to their professional development.

We also promote training and language study.

 

Performance management

With the mission of promoting the development of our collaborators and motivating Feedback; The leaders have a Performance tool that allows them to evaluate the competencies defined by the Organization and together define an individual action plan with strengths and aspects to improve.

This evaluation is carried out annually for all employees during the months of July and August with a focus on the performance of the employee in the fiscal year (July-June).

The evaluation form varies according to the function of each collaborator, considering the following competences and their descriptors that are aligned with our cultural traits: “Quality of work” (Detail, Time), “Service orientation”, “Going for more”, “Being part of a team in action”, “Being a leader”, “Being protagonist”, “Being pragmatic” and “Flexibility”. We promote highlighting the virtues and working individually on opportunities for improvement.

The evaluation is online, through SuccessFactors, which allows to have the evaluation history of each collaborator, their action plans and associated comments.

 

Potential Model

The organization has a methodology to evaluate the possible successors of key positions and accompany them in a training and development process to perform in a new position.

The selection of potential candidates focuses on mapping leadership levels and identifying replacement candidates for key positions. The process is led by the Human Resources Management. For the identification of the potential candidate, historical performance evaluations, feedback from their peers, the climate of the sector in charge and their work history, among others, are considered.


Capitalization Plan for Executive Management

Since 2006 we develop a special compensation plan for key Managers by means of contributions made by the employees and by the Company.

The plan is directed to some positions selected by us and aims to retain them by increasing their total compensation package through an extraordinary reward, granted to those who have met certain conditions.

Participation and contributions under the Plan are voluntary. Once the invitation to participate has been accepted by the employee, he or she may make two kinds of contributions: monthly contributions (salary based) and extraordinary contribution (annual bonus based). The suggested contribution to be made by Participants is: up to 2.5% of their monthly salary and up to 15% of their annual bonus. Our contribution will be 200% of the employees’ monthly contributions and 300% of the extraordinary employees’ contributions.

The funds collected because of the Participants’ contributions are transferred to a vehicle created in Argentina as an Investment Fund approved by the CNV.

The funds collected because of our contributions are transferred to another independent vehicle separate from the previous one. In the future, participants will have access to 100% of the benefits of the Plan (that is, including our contributions made on the participants’ behalf to the specially created vehicle) under the following circumstances:

In case of resignation or termination without cause, the Participant may redeem amounts contributed by us only if he or she has participated in the Plan for at least 5 years’ subject to certain conditions.

With the mission of promoting the development of our collaborators and motivating Feedback; The leaders have a Performance tool that allows them to evaluate the competencies defined by the Organization and together define an individual action plan with strengths and aspects to improve.