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Working Conditions

Compensation Policy

The Bank Millennium salary policy is based on the principle that the salary should be adequate to the tasks performed, competence and responsibilities of the employees. Regular salary and position reviews are conducted twice a year. Salary levels are reviewed taking into account the periodic assessment of performance and skills and are compared with salary information presented in salary studies on the financial markets.G4-DMA

Performance assessment

In 2014, all of the Bank’s employees were subject to regular performance assessment; its results affect the recommendations for further tasks, development directions and may influence a decision on granting a performance bonus.G4-LA11

In 2014, the assessment criteria were updated in order to adjust the assessment results to the current priorities and business conditions. The bonus systems and evaluation criteria have been adapted to the specific nature of work performed by each employee. In addition to efficiency and quality criteria, the assessment must consider the employee’s attitude to risk mitigation, in particular his/her reliable reporting of risks. An important part of this approach is a separate assessment for those in management positions, which encourages managers to pay special attention to the long-term welfare of the Bank and avoid excessive risk exposures.

Policy of variable remuneration components

Basic salary is the foundation of an employment contract; on average, it amounts to about 80% of the employee’s full remuneration and represents stable basic income. The bonus pool amount depends on overall results and on the general condition of the Bank.
It has also been assumed that the total pool earmarked for variable remuneration components of Bank Millennium Management Board Members cannot exceed the percentage set by the Supervisory Board in the consolidated net profit of the Bank Millennium Group (2%).

Work time system

In the Bank Millennium Group, employees are subject to one of the following working hour schedules: fixed, shift-based, task-based, balanced.

Fixed working hours - typically: from 8am to 4:30pm, from 8:30am to 5pm or from 9am to 5:30pm. For the jobs related to administrative support (e.g. secretariats) or linked to the operation of outlets available to clients, the working hours are set individually from 6am to 10pm, while keeping the required workday length for individual employees. In the Bank’s Head Office, the hours include a 30-minute break, while some of the Bank’s outlets have a 45-minute break.

Task-based working hours – may be applied where justified by the nature and organization of work or its location. The hours when the work begins and ends on specific days may be changed by agreement with direct superiors, considering the tasks performed by the employee and while keeping the required workday length.

Balanced working hours – may be applied where justified by the nature and organization. A superior may extend an employee’s working hours up to 12 hours per day in the accepted settlement period, while reducing the working hours on certain days or granting days off work.

Shift-based work - may be performed in each working time system. A direct superior may change the employee’s working hours after a specified number of hours, days or weeks.

On an employee’s written request, the superior may set an individual work time schedule within the framework of the work time system applicable to the employee. Overtime is settled in accordance with the labour law.

Social Benefits

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Bank Millennium Group employees are offered for the most part the same social and financial benefits regardless of the type of the employment agreement (for a definite/indefinite term) and the working time (part-time/full-time). The only exception is access to private medical care plan, which is offered to employees employed for at least one half of a full time equivalent.

 

Private medical care planPrivate medical care plan

Since 2006, the Bank Millennium Group has provided its employees with access to a private health care plan set up in cooperation with ENEL-MED medical centers. The plan offers access to medical consultations, detailed diagnostic tests and prevention programs. Additionally, there is an ENEL-MED medical practice operating at the Bank Millennium Head Office in Warsaw, offering basic medical care and outpatient assistance.

In the interest of the health of members of families of its employees, Bank Millennium negotiated (as part of the medical agreement) preferential prices for medical packages for the spouses, life partners and children up to 26 years of age. The scope of medical packages makes it possible to carry out both health prevention programmes, and specialist treatment.

Moreover, medical care for retiring employees has also been introduced. These persons may use private medical care in an unchanged scope for an attractive additional monthly fee.

Medical Care

 201420132012
Number of medical partners 1,300 800 714
Number of towns with medical care 410 375 330
Employees covered by private medical care* 6,126 (99%) 5,941(99%) 6,018 (99%)

* Employees on child-rearing leaves and unpaid leaves and employed for less than ½ FTE are not eligible for these benefits

Medical prevention

Every autumn, a nationwide campaign of vaccination against influenza is conducted with the participation of the Bank's medical partners. Vaccination is organized at the Bank's Head Office in Warsaw and Gdańsk – and in medical centers in Poland's other cities.

Sport and recreation activities

Bank Millennium Group's employees are offered two types of sport and leisure activities: MultiSport pass which offers the employee unlimited access to sports facilities throughout Poland or cinema tickets. Once per quarter, the employees may select the activity of their choice.

MilleKlubMilleKlub

MilleKlub is to promote among the employees various types of initiatives carried out in the form of sports, travel, cultural or art projects. The Club allows them to develop their passion; they may receive co-funding up to 50% of the cost of the project. Additionally, since 2014, the employees have been able to submit cultural and sports projects as part of the Kids projects that promote spending time with the family.

 

 
  

 201420132012
Number and % of employees who used the co-financing 2,031 (33%) 2,746(46%) 2,722 (44%)
Amount of co-financing (PLN) 239 276 362

Cash Benefits and Loans for Housing Purposes

Within the framework of social assistance provided from the Social Fund, the Bank offers two types of benefits:

Hardship assistance – every employee of the Bank's Group who due to a random event encountered financial, family or life hardships may apply for non-refundable financial aid.

Low-interest loans for housing purposes - granted for a renovation or finishing of an apartment, building or purchase of an apartment or a house, repayment of a housing loan.

These social benefits are also available to employees who retired or went on disability benefit immediately after the cessation of the labour relationship.

Benefits awarded to employees*

 201420132012
Hardship assistance      
PLN amount 415,000 369,976 292,400
Number of employees 158 139 140
Loans for housing purposes      
PLN amount 1,348,712 1,413,831 1,805,606
Number of employees 117 125 148

* data for Bank Millennium employees

 

Life Insurance

Employees may join a group life insurance on preferential terms. The insurance covers life and health of the insured and his/her family members. Six insurance variants are available so that everyone can match the offer to their needs.

 201420132012
Number and % of employees who used the offer 3,239 (52%) 3,156 (53%) 3,044 (50%)

Occupational health and safety

Occupational health and safety is ensured in accordance with the applicable law and internal regulations in this respect.

Occupational health and safety tasks are performed by a specialized external provider, SEKA S.A., under an agreement signed with the Bank. The main activities of the company include: regular audits of all of the Bank’s outlets (at least once in two years), running post-accident proceedings and other ad hoc activities (such as e.g. training across Poland). These tasks are performed under supervision of the Bank’s OHS team and reported on an ongoing basis. The results of the reviews form grounds for planning and performance of tasks aimed at improving safety and working conditions (e.g. modifications, renovation, equipment purchases, training).

Employee safety training is provided mainly by the Bank’s own trainers from the OHS team and the HR and Security functions.G4-DMA

Occupational health and safety

 201420132012
Accidents at work 9 10 11
Fatal accidents at work 0 0 0
Lost days ratio* 0.1% 0.1% 0.1%
Absence ratio** 6.5% 7.4% 7.8%
OHS training*** – number and % of participants 2,448 (40%) 2,925(49%) 2,537(42%)
Audits of field network outlets 210 234 208

* Impact exerted by accidents and occupational disease on employee absenteeism. This indicator is computed by comparing the total number of days lost with the total number of hours planned to be worked.
** Indicator measuring an absent employee’s actual number of days lost expressed as a percentage of the total number of days planned to be worked by employees in this same timeframe.
*** Introductory and periodic training (conducted once in 5 years)

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