Incentives and motivation
Was ranked Metalloinvest in the Russia’s most attractive employers rating in 2015
Metalloinvest’s remuneration system is based on the performance and personal contribution of each employee, as well as on the specifics of regional labour markets.
In order to maintain the level of employee wages, the Company indexes its staff salaries in accordance with collective bargaining agreements and the Industry Tariff Agreement.
Harmonisation of remuneration system
In 2015, the Company took the decision to harmonise its employee compensation practices to increase the efficiency of staff management and labour productivity and introduce unified approaches to and mechanisms of compensation and incentivisation. In accordance with the project schedule, a framework to harmonise the remuneration system was developed over the course of the year, with all payments and withholdings made consistent and uniform calculation algorithms designed. This project will continue into 2016.
In 2015, the Company spent RUB 1,418 million on social support for its employees, their families and pensioners (former employees)
Support for the Company’s employees is an important aspect of Metalloinvest’s social policy. Collective bargaining agreements are one of the social policy instruments that form part of a system of social programmes aimed at creating and maintaining staff incentives.
The main areas of the Company’s social support activities are:
- employee healthcare, welfare and recreation;
- employees’ children’s welfare and recreation;
- financial aid for employees and their families;
- support for retired employees, including regular financial assistance, healthcare and welfare services;
- incentive-based chair (non-production);
- additional paid leave days for family emergencies;
- sporting and cultural events for employees and their families;
- meals for employees;
- transportation for employees to and from work;
- social discounts (recreation centres, children’s wellness camps, sports facilities, etc.);
- other social benefits.
In 2015, the Company spent RUB 1,437 million on social support for its employees, their families and pensioners (former employees). Additionally the Company spent RUB 498 million on the development of the social facilities.