ManagementSolutionsforaChangingWorld MGT101A

AssessmentCoverSheet

TableofContents:

1. Executive Summary 3
2. Findings 4

• Recruitment and Selection 4
• Organisational Planning and Goal Setting 5
• Importance of a Collaborative Environment at Dexus 5
  4. Recommendations/Conclusion 6
  5. Reference List 7

1.ExecutiveSummary

This report will explore the findings of Dexus Property, an industry-leading company in Australia that focuses on industrial, office, and healthcare buildings. This report will go into detail about the selection and recruitment processes in finding talented and creative employees, Dexus is going against traditional recruitment processes and focusing more on the attitude of the candidate and willingness to learn over previous experience and jobs. Further, this report will outline the excellent organisational plans and goal setting that Dexus enforces through comprehensive plans and reports. This report will also go into detail about the importance of a collaborative environment to Dexus in encouraging productivity, efficiency, and innovation. Dexus has implemented a new workspace where employees are encouraged to collaborate with each other and share knowledge and ideas to assist Dexus in gaining a competitive creative advantage in the industry. Lastly, recommendations to how Dexus can improve their recruitment, organisational and work environment is discussed in this report.

1.Introduction

Dexus Property is a leading Australian Real Estate Investment Trust (RIET) valued at $42.5 billion specializinginoffice,industrial,andhealthcarepropertiesanddevelopmentsinAustralia.Dexuswas founded in 1984 and operated by Deutsche Bank externally managing property trusts up to 2004.

Dexus managementand operationalsystems have integrated sustainability to allaspects of Dexus and work hard to ensure they are achieving the elevated level of sustainability. Dexus management style canbeclassifiedasacross-functionalorganizationalstructure,whichistechnicallya matrixcorporate structure. At Dexus there a several different committees that employees report back to and work under, being such a large company there are many managers and boards to help manage the employees whilst also allowing participation and encourage creativity amongst employees (Dexus FM, 2021)

2.Findings

2.1RecruitmentandSelection

Dexus Property have made it their goal to ensure that they maintain their diversity within the company and uphold the standards they have set towards their recruitment to ensure that they are not bias and are inclusive to all candidates. Dexus have a talent acquisition team, that are highly trained to ensure that successful candidates will fit into the company culture and add to the value of the company. Dexus pride themself on having created and talented employees that help bring vision to the company and are encouraged to participate and be innovative. Recently the recruitment process at Dexus has been adapted to suit the new ways of thinking and selecting in today's world. Previously Dexus would solely hire based off a specific job and role that they would like to fill, the candidates would have to fit he requirements and skills they believe that role would need, after evaluation on their recruitment processes it became clear that it is not as necessary the jobs and roles people have done before, but it is more about their capability to learn and want to grow that will help them to be successful. Dexus now believe that top talent will pick the company first whether there is a job available or not and that they need to attract the best talent. This way of thinking can be beneficial to the company and can be a way of gaining very talented and dedicated workers. This can be explained through the Theory X vs Theory Y theories by Douglas McGregor, Dexus can be seen to be demonstrating ideas from Theory Y assuming that employees want to work and enjoy their job therefore will seek responsibility (McGregor, 1960). By Dexus being open to new way of recruiting they can demonstrate how effective a workplace can be if employees want to work and seek out the company. Dexus also believe in careers that grow within the company and have seen to promote and fill roles internally, in 2018 Dexus filled more than a quarter of vacant roles internally. The recruitment process at Dexus is extremely important in hiring talented and dedicated workers that willadd to the company's culture and demonstrate the Theory Y theory to add to the success of the business. (Turner, 2019).

2.2 Organisational Planning and Goal Setting

Dexusare consistentlydemonstratinganelevatedleveloforganisationalplanningwhichcanbe linked to their remarkable success, they are regularly publishing plans and reports that reflect on their operations and develop goals to improve. The comprehensive action plans that Dexus produce clearly convey the importance of being adaptive and improving operations regularly to uphold the reputation of the company. Dexus have recently published a Reflect Reconciliation Action Plan in March2022, where they will aim to achieve these goals by August 2023. In this plan they have identified their goals and vision and have set out 13 action points that they are going to implement. With each action point Dexus have set deliverables, a timeline and who's responsibility it is to achieve. For example, Dexus aim to Establish and strengthen mutually beneficial relationships with Aboriginal and Torres Strait Islander stakeholders and organisations they plan to do so by identifying ATSI stakeholders locally and best principles to support partnerships with them. Dexus are aiming to achieve this action by March 2022, and it is the responsibility of the General Manager, Technical Services and Supply Chain. It is very evident that Dexus are executing SMART goals, which help efficiency and productivity to work to these specific goals that are clearly set out and a realistic to achieve. Dexus demonstrate prominent levels of organisation and goal setting consistently throughout many different projects and aspects of their business that they want to achieve.Having SMART goals set encourages accountability and better performance as individuals grasp the direct impact of their performance (Graber, 2019).

2.3ImportanceofaCollaborativeEnvironment atDexus

Having a collaborative environment has been beneficial to the productivity and operations at Dexus. Dexus continues to uphold its reputation of having exceptionally talented and creative employees and they are ensuring that they are continuously encouraging this creative behaviour by having a collaborative working environment. Dexuss work environment can be explained through transformational leadership and workspace. The transformational theory explains an approach that causes change in individuals and social systems (Bass, 2006). This approach aims to create a valuable and positive change to employees. Dexus demonstrates a transformational workspace with the innovation of a blended workplace which has changed the space to encourage creative thinking and deviate from conventional corporate methods and operations. Dexus have implemented fewer individual desks and now have more variety of different styles of working, sophisticated videoconferencing facilities and more inspiring aesthetics (Jamal, 2021). This transformational way of a work environment motivates more collaborative thinking and sharing of ideas and knowledge which can increase productive, efficiency and inspire innovative ideas for the business. Adapting newways of working helps to increase staff motivation and wellbeing and become a more attractive workspace due to the forward thinking. This collaborative environment is beneficial to Dexus due to the nature of the industry it is important that they maintain their competitive advantage over other companies and can continually adapt and benefit off their talented employees.

3.RecommendationsandConclusion

Although Dexus Property has been successful in their recruitment and selection processes and have talented and innovative staff one recommendation would be ensure that Dexus is appealing to future potential candidates. Dexus has stated that they believe employees seeking out companies whether there is a job available or not is admirable and demonstrates a keen interest and determination for the company. The recommendation is to express that they are open to new candidates approaching them for jobs and demonstrate why they are a great company to work for. One recommendation for the organisational structure of Dexus would be to monitor and reflect on communication within the management, seeing as though they have a large number of employees and team leaders. It is recommended that they ensure there are SMART goals being set up within teams and not just focus on projects. Ensuring that they have goals set up within teams will improve efficiency and productivity. A recommendation for Dexus to create a more collaborative work environment could be to include more team-based activities to encourage collaboration and ensure that the work environment is a positive space that everyone feels included and opinions and knowledge will be valued. Ensuring that they integrate team based activities will overall improve innovation and collaboration.

5.ReferenceList

Bass,B.M.(2006).Transformationalleadership.Psychology press

Chowdhury, S. (2017). How effective goal-setting motivates employees.https://www.mckinsey.com/business-functions/people-and-organizational-performance/our-insights/the-organization-blog/how-effective-goal-setting-motivates-employees?cid=other-eml-alt-mip-mck&hlkid=5131ea2eb42b4277b0d8a2ad8743e32a&hctky=10306759&hdpid=de26ff02-f827-420d-9bdc-fb123c19431b

Dexus. (2021.) 2021 Inclusion and Diversity Policy.

DexusFundsManagement.(2021).AnnualReport.https://www.dexus.com/investor-centre/results-and-reporting/asx-announcements/2021/august/2021-annual-report

Graber,N.(2019)MileIQ.WhyareSMARTGoalsNecessaryinBusiness?https://mileiq.com/blog-en-gb/smart-business goals# :~:text=It stands for Specific, Measurable,your%20p rogress and stay motivated.

Jamal,K.(2021).DexusDiscover.DowewantTransactionalortransformationalworkplaces?https://www.dexus.com/discover-dexus/prism/do-we-want-transactional-or-transformational-workplaces

Turner,S.(2019).DexusDiscover.Attractingthebesttalent:howrecruitingforbusinessin changing.https://www.dexus.com/discover-dexus/prism/recruiting-not-as-we-know-it.

OVERALLFEEDBACKFROMTHELECTURER

I hope this assessment has given you a clearer understanding of management issues and the importance of effective collaboration. I have made some comments within your work.

ManagementConcepts:verygoodintroduction

Youhavediscussedcurrentmanagementoperationsmakesuretosticktothewordcount

ImportanceofEffectiveCollaboration:very well described.

Recommendations:Goodandcreativerecommendationshoweveritwouldbegoodifyou expanded on the recommendations.

ReferencingandPresentation:Makesurethatyour referencelistfollowstheAPAsystem of referencing and that you in-text reference your work more carefully.

Other than that very good layout of work