The Group’s pay policy sets out to recognise and reward the commitment, the constant achievement of results, the skills and the behaviour of employees in line with the Group’s managerial model, and to ensure application of the correct pay scale with respect to each employee’s position.
We pay our employees salaries in line with market standards and with internal pay practices which guarantee the right level of both external competitiveness and internal fairness.
Variable pay is calculated according to discretional mechanisms based on the recognition of work-related performance and behaviour and foresees one-off payments or systems directly linked to company results and individual performance (MBO).
Furthermore, access to the MBO system has been extended so as to increase employee involvement in the achievement of company objectives. In 2020, the number of people involved reached around 100% of senior management, 37% of middle management and 2% of other office staff. In order to foster the implementation of the Sustainability Plan that we have defined, a framework of sustainability goals has been confirmed in the sphere of management incentivisation systems.
The variable pay system also includes a collective incentivisation mechanism (results bonus) based on the Group’s profitability and productivity targets and designed to ensure the involvement of the entire workforce, even those not covered by MBO, in the performance of the company.
It is also possible to convert part of the results bonus into benefits and services by means of a dedicated welfare platform, in line with current legislation and the result of an agreement with workforce representatives.
There is also a salary-support benefits package: health and social security insurance, projects and schemes for employees and their families, promotional offers and a range of other services.
We actively undertake to recruit talented individuals by offering attractive career opportunities and we set great store on our human capital, with specific measures in place to ensure retention.
We believe in transparency and, for this reason, our pay policy process is backed up by dedicated business software (SmartPeopleA2A) which allows all employees to digitally consult communications related to pay decisions.
We are also transparent in the definition of differentiated pay scales as regards the timing of payments, bonus levels, performance conditions and the result indicators used in calculations.
Our commitment to fairness means that we reject all forms of pay-related inequality based on gender. Furthermore, the differences in average pay levels within each of the various job classes are slight.