Building further on the new organisation
In recent years NSI put in place an almost entirely new organisation with a new culture and identity, aligning the organisation with a more focused strategy.
The organisational change included a decentralisation of responsibilities, allowing the organisation to operate more efficiently and empowering individuals to develop in their role, supported by a substantial upgrade of the IT infrastructure and management information systems. The final step in the new organisational model involved the outsourcing of the day-to-day technical management. This new organisation called for new skill sets and expertise that were sourced with new hires. All this resulted in a smaller organisation in terms of headcount, with a different profile in terms of diversity, age and educational level.
The total headcount at 31 December 2018 was 46, compared to 81 employees at the start of the organisational transformation at the start of 2016. NSI is confident that the current staffing level reflects the size, skills and mindset needed to take the company’s strategy to the next phase.
NSI has an open and inclusive culture in which diversity is considered to be an added value. NSI recently redefined its core values. NSI aims to be transparent, disciplined, responsible and think in opportunities. Furthermore we like to keep it simple, and we are here to stay. We have clearly defined the meaning of our core values, as detailed in the text box on the right.
With its defined core values, NSI aims to realise the full potential of its employees, the investment of its shareholders and the assets that it acquires and operates. NSI incorporates these core values into its organisation and processes by hiring the best talent and by holding itself to the highest standards in an atmosphere of dedicated hard work, team spirit and fun. Safeguarding the corporate culture has the ongoing attention of management and is consistently a significant point of attention in internal meetings.
Living up to core values is part of NSI’s assessment and appraisal methodology, and is being discussed in regular and year-end reviews. NSI encourages its employees to give feedback and urges the whole organisation to actively contribute to our ambition of becoming the leading office property specialist in the Netherlands.
NSI has an onboarding programme in place to acquaintnew hires with the company’s cultural values. In 2018 team building and inspirational knowledge sharing were at the heart of a study trip to London. The entire NSI team went on a two-day trip to London to visit peer companies. The programme consisted of inspirational presentations from peer companies, sharing knowledge and best practices and visiting some innovative and state-of-the art
NSI culture and mindset
NSI is a progressive Dutch real estate company always on the look-out for opportunities in a competitive and changing environment. We embrace change because our strong culture and core values provide us with a stable foundation that instils confidence in the future.
We are transparent
We recognise that mutual trust can only really exist in an environment of openness, clear communication and consistent actions. Our success as a long-term investor hinges on us gaining and maintaining the trust of all stakeholders and we constantly focus on this.
We are disciplined
Our internal and external procedures are befitting of a small and flexible organisation. The procedures provide clarity on how we act and operate. We only make promises we can keep.
We take responsibility
Our intrinsic motivation at NSI is to always do the right thing. We recognise and fully embrace the high level of responsibility that rests upon our shoulders as a publicly-listed company. As employees we are fully aware of the need to support our customers, colleagues and other stakeholders and we treat them with the utmost respect. We acknowledge and correct any mistakes we make and we learn from them.
We think in terms of opportunities
We have a positive mindset and are always seeking solutions and new opportunities. This makes us versatile and enables us to add value for our customers, whilst we continue to develop ourselves. We will always address the risks associated with an opportunity to come up with wellconsidered solutions.
We like to keep it simple
Complexity often confuses, creates uncertainty, a fuzzy demarcation of responsibilities and generally results in slowdowns and delays which in turn lead to inefficiency and high costs. We take decisions after thorough and substantiated deliberation, making sure our choice of structure, process and responsibilities are as clear and concise as possible for us and our stakeholders.
We are here to stay
Our focus at NSI is on sustainability and the long term, both when it comes to the relationship with our customer, the perspective of the building, the location and the ever changing needs of users, and, but also with regard to the structure of our organisation and the interests of our shareholders. We are fully aware of short-term interests but will always favour the long term.
Healthy workplace & Employee satisfaction
The health and well-being of its employees (and tenants) is an important pillar of NSI’s sustainability strategy. NSI aims to create a healthy, inspiring and flexible working environment to ensure the well-being of its employees. This is reflected in a further reduction of the sickness rate at NSI to 1.2% in 2018 (2017: 2.2%)
Employee satisfaction surveys are a strong tool used to track the actual and perceived well-being of employees. An employee satisfaction survey was held for the first time in 2018. The overall satisfaction score was 82%, with a response rate of 89%. The survey revealed that employees were generally very satisfied with the company culture and employment conditions, and that they have confidence in the organisation and its directors. Some areas with room for improvement include improving execution throughout the organisation and creating more scope for personal development.
Training and development
With responsibility as one of our core values, it is important that we provide all our employees with ample training and development opportunities. We encourage employees to undertake externally recognised courses by granting annual individual training budgets as part of our strong commitment to attracting and retaining the very best talent, making NSI a great place to work.
The head of HR engages with each individual employee to discuss their envisioned personal development plan and ambition level. Furthermore, we encourage knowledge sharing through expert sessions hosted by both internal and external specialists, as well as collaborative working practices. NSI has launched a leadership programme to support and challenge senior management in their professional and personal development.
The first participants in NSI’s Young Talent Programme will complete their traineeship in 2019, and a new cycle will start in 2019. The programme is geared at providing a broad range of experience through job rotation in different areas (finance, transaction management and asset management) in a challenging environment in which young professionals can make an impact and take responsibility from the start.