Crushing It
Brixmor Property Group published a Transformation Tour video at the end of 2023. In it, the CEO shares company performance outcomes over the course of his nearly seven year tenure. The results are nothing short of phenomenal and include delivering hundreds of millions in value for shareholders and impressive growth in critical real estate metrics such as percent of space leased and annual base rent.
The CEO adds, “the team crushed it!”
I was Brixmor’s Chief Talent Officer for virtually the entirety of that performance period, and I’d like to share insights into how culture contributed to the company’s successes. Since culture is more book than blog, I’ve narrowed my focus for now to using employee feedback as fuel for culture growth and improvement.
The executive team gained insight into employee feedback through multiple channels. Managers across the organization conducted regular check-ins with their teams and provided summary feedback upwards; we monitored our ability to attract and hire new talent; we reviewed retention levels together every quarter; and we discussed exit interview comments too. But a critical component of understanding came from all-employee surveys.
So how did the team’s culture crush it?
The surveys told us how employees gauged culture pillars such as work environment, leadership style, communication, growth opportunities and organizational structure.
We conducted a baseline survey in 2016 when the CEO first joined, and we surveyed every two years thereafter using consistent questions to gauge culture progress.
In 2016, 80% of employees responded to the survey and in 2022, a whopping 97% responded. The survey was optional (and anonymous) so the percentage of responses matters as it speaks to the team’s engagement.
In 2016, 90% of the team agreed with the statement, “I believe the company’s culture is generally positive.” And in 2022, it was 99%.
And “I have a solid understanding of the day-to-day expectations for my role,” improved from 91% agreement in 2016 to 99% in 2022.
Over time, we also added new questions to the surveys and in 2022 the team expressed a level of agreement of 98% or higher with these statements:
“I am proud to work here.”
“My team works together to accomplish initiatives, goals and tasks.”
“I find meaning/connection to the company’s vision to be the center of the communities we serve.”
“I feel like I belong here.”
High culture. High performance. Inextricably linked. Both require strategy, commitment and continual measurement.
BRX Links: Transformation Tour video; Transformation Tour slide deck; ESG press release and ESG report