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Remuneration and incentives

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The Group’s remuneration policies have been set up to ensure that employees are positioned correctly in terms of the wages or salary they receive with respect to the work they do, and to assign value to their work performance and conduct.
To the fixed remuneration resulting from the application of the national collective labour agreements are added selective wage or salary increases and monetary economic rewards, which for the managerial population are linked to preset annual Group and individual objectives (management by objectives) and for other employees are given as one-off payments in connection with work and conduct performance. To ensure all the Group’s staff are involved, including those in non-managerial positions, the variable remuneration system is supplemented by a collective incentive tool (results bonus) based on profitability and productivity objectives.
Certain fringe benefits may also be given such as by way of example accident, life and health insurance for managerial staff; and meal vouchers/canteen, discounts and subsidies through the Group Recreational Club and additions to the sector supplementary pension scheme for non-managerial staff.

On induction, in the absence of significant past working experience consistent with the profile, A2A pays entrants of both genders the minimum salary established by the applicable national collective labour agreement for the category into which they fall.

Labour costs, net of capitalised costs, totalled 558 million euro for the year ended December 31, 2011 (554 million euro for the year ended December 31, 2010), an increase of 4 million euro

Labour costs (€ million) 2009 2010 2011
Wages and salaries 313 368 366
Social charges 118 124 137
Severance indemnity 21 23 22
Other costs 29 39 33
Total 481 554 558