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Change in the employment rate of people
with disabilities
(1)
(France)
31/12/2011 31/12/2012 31/12/2013 31/12/2014 31/12/2015
31/12/2016
1.47% 2.13% 2.50% 3.15% 3.31% 3.86%
(1) Legal employment rate (AGEFIPH).
Intergenerational contract
The preceding agreement expired on 31 December 2016 and a new
agreement was renegotiated and became effective on 1 January
2017. Along the same lines as the previous agreement, the
“Intergenerational contract” has a three-fold objective:
p
to promote the employment of young people, in particular through
a programme to recruit recent graduates;
p
to retain seniors, while at the same time facilitating the transition
towards retirement during the years preceding departure.
Accordingly, a plan was put in place to permit employees to leave
the Company two years before retirement to develop a charitable
or family assistance project;
p
to promote the transmission of knowledge and skills from one
generation to the next.
Under the intergenerational contract and among other commitments
to young and senior workers, Amundi agreed that during the term
of the agreement, permanent hires younger than 34 would make up
40% of total hires and the fraction of employees older than 55 would
be greater than 10% of the workforce.
As of 31 December 2016, the percentage of new hires under 34 years
of age (France and international) was 52%, and the employment rate
of employees older than 55 was 11.6%.
To achieve the objective of transferring and sustaining skills within the
Company, Amundi has ensured that the skills, knowledge and know-
how of employees are capitalised upon at the end of their careers
by creating the new position of “Senior Advisor”. This objective of
skills retention will be combined with the second complementary
objective of providing recognition for departing employees who will
ensure the proper transmission of their knowledge through this Senior
Advisor position.
COMPENSATION
Amundi’s compensation policy is based on three principles that
combine individual and collective performance. It takes into account
the economic environment, competitiveness and the labour market.
As these considerations may differ from one country to the next,
Amundi adapts its compensation policy to local situations and
realities.
The components of Amundi’s compensation system are as follows:
fixed compensation, a bonus decided by the manager, reflecting
the contribution to overall performance, and Collective Variable
Compensation (CVC) that links employees to company earnings
through profit-sharing and incentive schemes.
p
Fixed compensation is commensurate with the roles, responsibilities
and ongoing achievements of the position held. This base salary
may be increased with the acquisition of new responsibilities and
improvement in job performance, assessed each year by the
employee’s manager during an annual assessment. At the same
time, Amundi monitors market data in order to ensure that its
compensation structure remains consistent with market practices
and more specifically with the practices of other asset management
companies.
p
Individual variable compensation (bonus) rewards an employee’s
contribution to Amundi’s performance and is based on both
individual and collective factors. Since 2008, Amundi has had a
deferred bonus plan to align compensation with the Company’s
long-term performance and to strengthen its efforts to retain the
best people. This plan was subsequently modified in light of various
regulatory requirements. The deferred portion, which can amount
to as much as 60% of variable compensation, is spread over
three years. It is definitively acquired after meeting certain criteria
related to performance, continued employment and refraining from
excessive risk.
Disability
In 2016, Amundi took pro-active initiatives to hire people with
disabilities. Amundi had set the objective of hiring a further 24 disabled
employees, all types of contracts included (permanent, fixed-term,
work-study and internships) over the term of the triennial disability
agreement for 2014, 2015 and 2016. In 2016, ten people were hired,
including two permanent, to add to the 19 hires made in 2015 and
2014. As of 31 December 2016, Amundi had 67 employees with
disabilities in France.
Employees by gender and job classification (France)
31/12/2014
31/12/2015
31/12/2016
% Female managers
43.1
42.8
42.5
% Male managers
56.9
57.2
57.5
% Female, non-manager
74.0
75.3
75.0
% Male, non-manager
26.0
24.7
25.0
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AMUNDI
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2016 Corporate social responsability report
Economic, social and environmental information
Make individual and collective development central to our responsibility as an employer