of the employees

In the second half of 2023, the HR department of Adler Group carried out the yearly survey among its employees, the structure and content of which were largely in line with the previous year. Participation reached 62%, which was slightly less than the previous year’s 66%. General satisfaction with working for Adler Group increased by 0.01 points to 4.02 points on a scale of 1 to 5. Motivation to work for the Company stayed high at 4.47 points, although this was 0.01 points less than in the previous year. Employee statements on loyalty to Adler Group as an employer stayed unchanged and equally high at 4.43 points, while recommending the Company as an employer fell by 0.04 points to 3.77 points. These results show that most employees are fully aware of and are willing to cope with the ongoing restructuring programme, the already executed or still planned asset sales, and the outlook that Adler Group will transform into a much smaller company focused on a portfolio in Berlin.

Management believes that the results of the survey reflect the fact that management decisions have been made much more transparent during the restructuring process. The more intensive communication with the workforce - for example, our Senior Management team reported at all major locations extensively to employees and managers on current company developments in “fireside chats” and also provided ample opportunity for informative discussion- met with a very positive response from the workforce. There were also summer parties and Christmas events, which also provided an opportunity for personal exchange across all hierarchical levels. These face-to-face events were supplemented by virtual formats (“town halls”) and announcements via internal communication channels. Important communication topics in 2023 were the refinancing efforts, the restructuring programme, the sign-in of an auditor to audit the 2022 results, or the move in Berlin to a new and central headquarters. Employee appraisals, which take place at least once a year, also serve to improve transparency in order to appropriately assess performance and inquire about individual development needs. Mutual feedback plays a key role in the discussions in terms of building trust. In the course of 2023, the employee appraisal process was digitalised, which helped to make it more flexible and improve documentation.