The Group's relations with Trade Unions are based on the principles of fairness and respect of roles, in compliance with regulations, in order to set up new agreements to increase growth, competitiveness and sustainable employment. The exchange of opinions and the search for shared solutions together with Trade Unions - aimed at safeguarding the personnel involved under the occupational, professional and economic-regulatory profile - have constantly guided our Group’s operational and corporate reorganisation processes.
The Group has been characterised since its inception by a complex welfare system that was developed also through discussion with Trade Unions; the agreements at Group level are integrated with those regulated by national collective bargaining, offering all employees a complex system of guarantees - supplementary pension funds and supplementary health care - flexible solutions aimed at work-life balance - through permits, leave, flexible working hours, part-time options, etc. - as well as subsidies and economic contributions, such as benefits for families with disabled children, out of the workplace accident policies, loans, mortgages, meal vouchers and scholarships.
During the period 2014-2017, the “Welfare, Safety and Sustainable Development Committee” has promoted a series of measures and interventions that have subsequently found their concrete realization in specific trade union agreements, such as the agreement for the introduction of the Flexible Work and the Time Bank, the agreement on the conciliation of life-work balance, the Protocol on Inclusion and equal opportunities and the measures in favour of active ageing. The constant dialogue between the Company and the Trade Unions resulted in the signing of 46 agreements in 2017 (and over 230 between 2014 and 2017) which dedicated plenty of space to defining an integrated welfare system characterised by heavy investment and innovative initiatives in the area of work-life balance, inclusion and non-discrimination, and sustainable development.
Since March 2015, following the agreement between the Company and Trade Unions on December 10 2014, the flexible work has been available for numerous colleagues, as a way of working that, integrated with the agreements already envisaged by the corporate welfare, combinescompany's needs with personal and family's needs. The Flexible Work project continued in 2017 involving an increasing number of structures and people across the Group (over 8,200 employees).
Employees can carry out their work: - from home - from a company location other than the assigned one ("company hubs") - from our customer's premises.
People are the core of this project, which promotes a cultural change by strengthening the relationship of trust and mutual accountability between managers and employees, between the company and the employee. Colleagues participate to the flexible working project on a voluntary basis; within the structures involved the inclusion criterion is applied, so that all employees who possess some basic requirements are enabled to join. A particularly relevant and innovative aspect of this project is that colleagues can work from home up to 8 days a month, also fractionated, and without specific time limits from a company hub or from our customer's premises.
The positive evidences emerging, not only in terms of colleagues' satisfaction but also of business productivity, led the Bank and Trade Unions, also within the Welfare, Safety and Sustainable Development Committee, to continue with the project, paying particular attention to network entities operating in Italy, offering them the opportunity to benefit of professional training through the "smart learning". In addition, the extension of Flexible Work in the International Subsidiary Banks Division is under evaluation: the feasibility analysis began with three pilot banks at the end of 2017; in the event of a positive outcome, Flexible Work will be introduced in the these Banks by 2018.
The Second Level Collective Agreement of the Intesa Sanpaolo Group contains a series of measures aimed at facilitating work-life balance, including the Banca del tempo (Time Bank), that is an annual pool of paid leave hours in favour of employees who need more leave hours than those they are already entitled to, in order to deal with personal and / or family serious and ascertained situations. This pool is supplied by the Bank, with an initial allocation, that can be increased with voluntary donations from employees and, in equal measure, from the Bank. In 2017 employees donated 6,400 hours, which were topped up with the same number of hours by the company, for an overall total of 63,000 hours. As part of the same Time Bank initiative, a corporate volunteering project was promoted that enabled 253 people in 2017 to carry out volunteer work, on work days, on behalf of external associations and bodies chosen by the Group. A total of 1,850 hours of leave were granted.
Other work-life balance tools have been introduced:
the possibility to use suspension days from work, without having to justify the reason, for a maximum of 15 working days, paid 35% of the salary;
a series of measures aimed at encouraging the involvement of fathers in family care (including supplementing remuneration in the case of parental leave taken by the employed father);
permits for specialist visits for staff suffering from serious diseases and for the assistance in school activities at home to children with specific learning disabilities.
As regards the supplementary pension plan, following the conclusion of the first phase, launched by the collective agreements of October 2015 with the institution and the introduction of the Intesa Sanpaolo Group defined contribution Pension Fund (5 billion euro and 65,000 subscribers at the end of 2017), work continued to expand the offer and streamline the financial structure of the Fund, which currently comprises 5 financial segments and 1 insurance segment. Subscribers can therefore make their own investment choices, distributing their capital in one or more of the available areas.
EMPLOYEE SHARE OWNERSHIP PLAN, INVESTMENT PLANS, VARIABLE RESULTS BONUS AND SOCIAL BONUS
In 2014 the Bank shared innovative agreements with the Trade Unions with the aim of recognising the greater organizational and productive commitment requested by the 2014-2017 Business Plan. These agreements established, first of all, the free allocation of Intesa Sanpaolo shares to employees, as well as the possibility of accessing investment plans (so-called LECOIP - Leveraged Employee Co-Investment Plan) that enables employees, depending on the task carried out and the position held, to take part to the increase in value expected by the implementation of the 2014/2017 Business Plan, through an individual choice of co-investment in Intesa Sanpaolo shares. Overall, 79% of Group employees entitled joined the Plan, for an exchange value of around 150 million euro. Employees who have joined the Plan will receive payments of its net worth to May 2018.
In the following years, 2015 and 2016 and, the Group and Trade Unions flanked the LECOIP initiative with the Variable Results Bonus, which, in 2016, employees had the possibility to use as a Social Bonus, such as a reimbursement of expenses for the education of children or care services to elderly/dependent family members or as a contribution to their complementary Pension Fund. The Variable Results Bonus integrates in a single overall recognition the component of staff productivity as a whole with incentive systems designed to give value to excellent performance. This mechanism involves increasing bonuses as different goals are achieved according to the relevant company level (Group, Division etc.) and the type of result achieved in terms of specifically identified economic and financial parameters.
TRAINING AND AWARENESS ACTIVITIES
The company cooperates with the Trade Unions to define corporate training plans aimed not only at obtaining professional skills and complying with legal regulations, but also at enhancing the value of human resources. The training activities’ targets include providing guidance and promoting individuals, as a growth factor of the company community.
These corporate training plans are frequently the subject of evaluation by the Welfare, security and Sustainable Development Committee, followed by specific arrangements with the trade unions aimed at seizing the financing opportunities offered by the Fondo Banche e Assicurazioni.
PROTOCOL FOR THE GROUP'S SUSTAINABLE DEVELOPMENT
In 2017 Intesa Sanpaolo and the Trade Unions have continued to search tools and solutions for the wellbeing of the employees and a better work-life balance, which have to be combined, in a socially responsible approach, with business strategies' development and people empowerment.
The Protocol for the Group's sustainable development, signed in February 2017, defines positive actions aimed at providing an additional work-life balance tool for employees with serious illnesses and/or over 60 years of age, such as the introduction of experimental flexible work measures on an individual basis, the forecast of a priority causal list in the event of a request for transfer over distances of 70 km from the residence, as well as measures to promote the activity of Structured listening in the group. In the context of active employment policies, in order to encourage new permanent contracts – with particular attention to the branch network, to the South of Italy and to the disadvantaged areas of the country – and the contextual change of generation of the country.
Intesa Sanpaolo and the Trade Unions have also taken the opportunity to experiment - for the first time in Italy - the so-called "lavoro misto" (mixed work). This is an innovative way ofcarrying out the work activity, with two parallel contracts in place for the same person (one part-time contract as a bank employee and one as a financial advisor). The first "mixed contracts" were activated in 2017 and up to 900 new recruitments are planned with this type of contract.