Employees (number of FTEs / employees)

At year-end 2019, Vesteda employed 194 FTEs, an increase of 3.2% compared with 188 FTEs at year-end 2018. The number of employees increased to 211 at year-end 2019, from 205 at year-end 2018.

Workforce, by age (%)

The average age of Vesteda employees dropped from 41.4 years in 2018 to 40.9 years in 2019. The largest portion (33%) of the workforce is between 35 and 45 years of age. The representation of the group younger than 35 years of age increased to 30%.

Workforce, by gender (%)

The male/female ratio changed slightly compared with the year-end 2018. At year-end 2019, 52% of the workforce were male and 48% were female.

In 2019, 42 new employees joined Vesteda (43% female/57% male) and 36 employees left the company (47% female/53% male).

The male/female ratio within the Management Board is 100/0 and the male/female ratio within the Management Team, including Management Board, is 75/25. In 2019, Vesteda's Supervisory Committee consisted of five members: three men and two women. Following the end of the terms of two members in 2019, one male and one female member were added to the committee, which improved the diversity of the Supervisory Committee to 40% female.

Vesteda recognises the importance of an equal distribution of male and female members of its Management Board and Supervisory Committee, taking into account that a candidate’s qualifications and match with the function profile are always the leading principles behind any appointment.

At year-end 2019, 82% of Vesteda’s workforce had permanent contracts, of which 89 were men and 84 were woman; 18% of Vesteda’s employees had a temporary contract, of which 21 were men and 17 were women. This was an absolute decrease of 3% compared with year-end 2018, when 21% of Vesteda's employees had a temporary contract. In 2019, 32% of the employees of Vesteda worked part time, of which 13 were men and 55 were women. Most fulltime Vesteda employees are men (97 men versus 46 women).

The percentage of employees covered by collective bargaining agreements was 93% at year-end 2019.

Total remuneration

Total remuneration amounted to €13.2 million (91% fixed and 9% variable) in 2019, an increase compared to the previous year (2018: €12.4 million).


Vesteda has a bonus scheme with a collective component that includes criteria such as the realised operational result, GRESB score, tenant satisfaction score and increase in gross rental income. The variable remuneration also includes an individual component and in some cases a team component. Variable remuneration is only paid, in full or in part, if Vesteda’s realised results meet the targets sufficiently. This requirement was met in 2019.

Organisation, employees, trainee development and training

On our journey to become a High Performance Organisation (HPO), in 2019 we focused on our employees, our managers and our organisation.

As part of our goal to be an employer of choice by creating an inspiring and pleasant environment to work in, we introduced Vesteda Vitaal as a benefit to encourage our employees to live a more healthy and balanced lifestyle. Vesteda Vitaal offers our employees insight into their personal lifestyle, health risks and provides personalised advice on how to improve that lifestyle.

The first shift of our trainee programme ended in November 2019 and resulted in all four trainees remaining with Vesteda, either as an employee or working on a temporary project. A second shift started in September 2019 with three trainees. As in the first group, during the two-year programme the trainees will be given various assignments, changing the department they work for on average every six months. They will also be assigned a group (CSSR) project to develop their teamwork skills. The traineeship includes a personal leadership programme, with personal coaching, intervision and development workshops. In addition to the current trainees, nine young employees from across the organization are participating in the ‘young development programme’, which started in November 2019.

At the end of 2018, we launched an internal management development programme to increase collaboration between managers and teams and help create a culture in which our employees embody our core values and learn how to achieve their own and their teams’ full potential. During the course of 2019, a group of 29 managers learned not only about their own behaviour based on individual preferences and character, but also increased their understanding of the behaviour of others through the use of the RealDrives tool. With the aid of intervisions, using the so called Hot Seat method, the sessions encouraged people to share their dilemmas and help each other. This proved to be an effective method for communicating and collaborating across different teams and functions.

To improve both our customer services and our processes, our main focus in 2019 was on preparing ourselves for the launch of the new ERP system, new website and CRM system. To ensure the quality and readiness of these new systems, we decided to postpone implementation to 2020.

Following the acquisition of the former Delta Lloyd portfolio in 2018, we started insourcing the property management activities of the former Delta Lloyd portfolio into our own organisation at the end of 2019. As part of this insourcing project and to re-divide the Vesteda portfolio based on location, in October 2019 we opened a seventh regional office in the north-western part of the Netherlands. We also added 8 FTEs to manage part of the total portfolio, in line with the investment proposal for the former Delta Lloyd portfolio.

In 2019, Vesteda invested approximately €627 thousand (4.8% of the gross payroll) in the training and development of individual employees, the teams, the new employee council members, trainee and young talent development and the "Vesteda Verbetert" management development programme. This was an increase of 26% compared with 2018 (3.8% of the gross payroll).


Sick leave (%)

Absenteeism increased to 3.5% in 2019, compared with 2.4% in the previous two years. The sickness absence in 2019 was higher due to the fact that a few employees were sick longer than two weeks, but shorter than one year.

Works Council

In 2019, the Works Council and the Management Board met on a regular scheduled basis. These meetings were constructive and subjects included (but were not limited to) HPO, Vitality, the ERP system, the Green Bond and our car policy. The Works Council set up a panel to improve the connection with employees, to facilitate more support for and feedback from employees working in various parts of the company. Two members of the Works Council left the company in 2019.