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3.2
Employer-Employee communication, Psychosocial Risk (PSR)
Prevention Policy and quality of life in the workplace
EMPLOYEE REPRESENTATIVE BODIES
Amundi’s social policy is to engage in constructive dialogue with
the various employee representative bodies, whether through
formal bodies or through
ad hoc
groups facilitating more in-depth
discussion. Amundi recognises that social dialogue and healthy
employee representative bodies contribute to Amundi’s development.
Through bodies such as the Works Council, the Health and Safety
Committee (33 meetings in 2016), or as part of eight specific
commissions, 2016 proved to be a very prolific year for employer-
employee communication. Legal changes due to the Rebsamen and
El Khomri laws and the agreements expiring at year-end 2016 led to
active collective bargaining.
Nine agreements and amendments were signed in 2016, including:
p
a methods agreement facilitating the organisation of collective
bargaining for 2016 and providing greater resources to the social
partners to enable them to be fully involved in all negotiations;
p
profit-sharing and incentive plan agreements following the model of
the previous agreements by linking employees to the companies’
results and resulting in the distribution of amounts higher than the
legal requirements in accordance with the best market standards,
while ensuring social redistribution. These new agreements
incorporate potential international acquisitions into the calculation
of the collective variable compensation (CVC);
p
PEG (corporate savings plan) and PERCO (collective retirement
savings plan) agreements promoting savings through significant
employer contributions, particularly to the PERCO, to deal with
changes in retirement systems;
p
a Professional Gender Equality agreement demonstrating Amundi’s
desire to reinforce the principle of equal opportunity throughout
the entire HR process;
p
an Intergenerational Contract aiming to promote diversity through
the hiring of young employees and the maintenance of the
employment rate among older employees, thereby participating
in the development of the transmission of knowledge and skills
between generations.
In addition, Amundi committed to establishing a Corporate Retirement
Savings Plan (PERE), to bolster the assistance provided to employees
in preparing for retirement by setting up an additional retirement
savings scheme.
With respect to agreements on the employment of persons with
disabilities and the management of employment and skills, Amundi
applies the agreements signed at the Crédit Agricole S.A. Group level.
As a member of the Crédit Agricole Group, Amundi is also a member
of the Group and European Works Councils formed at the Crédit
Agricole Group level.
p
CVC ties employees to Amundi’s financial performance. In France
it is based on a total amount set as a function of a benchmark
figure adjusted for changes in net income, in AuM and in the
operating ratio.
The compensation policy is reviewed yearly by the Compensation
Committee. It complies with recent regulatory changes (AIFM, MIFID
and CRD IV).
In 2016, Amundi continued to apply its compensation policy in three
areas:
p
to enhance the professional development of young employees and
those who take on new responsibilities and assist employees who
change jobs and join growth segments;
p
to pay particular attention to entry-level salaries to ensure a degree
of social equity;
p
to provide pay raises that reflect the Company’s development and
performance and the employee’s performance.
EMPLOYEE SHARE OWNERSHIP
At 31 December 2016, the percentage of employee share ownership
in the share capital of Amundi stood at 0.3%.
During 2016, Amundi’s Articles of Association were modified to allow
for the creation of a director representing employees, with the task
of being the employees’ voice on the Board of Directors. Amundi
opted to follow this course of action despite not being under a legal
obligation to do so. This director was elected by the employees for
a 3-year term of office and has a voting right.
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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