Employees

In line with the principle that “a company’s success depends on more than just the right strategy”, the Mediolanum Group increased its investment in human capital in 2014, despite the long-term economic uncertainty affecting the banking sector.

In 2014, 232 new employees were hired, mainly accounting for the 9.1% increase in the workforce compared to 2013.

The fundamental elements underlying the Mediolanum Group's competitiveness include its commitment to developing employees with outstanding skills, the active engagement of personnel in processes relevant to them, and a particular focus on the internal communication system to promote a culture of dialogue and the free flow of information. The search for quality-oriented, flexible and highly motivated employees is carried out in complete compliance with the principles of respect and equality .

The Mediolanum Group recruits qualified personnel through a structured process that, following principles of fairness and impartiality, ensures the growth and renewal of skills within the company. Personnel selection is coordinated by the Recruitment and Selection Department, created in Spring 2014. The Department is responsible for finding and selecting new personnel, taking into account set budget limits, management requirements and the recruitment plan. The Recruitment and Selection Department has redeveloped and implemented selection processes for the Bank and for the Group's Italian subsidiaries.

Being competitive in the today's new environment requires the ability to engage with the market in new ways and to overcome all barriers, including within the organisation. In the Organisation Department, a study is under way that will lead to the implementation of the "Digital Workplace." This project is aimed at emphasising how information transparency is one of Mediolanum's values, as well as at increasing information sharing between different corporate levels and individuals by redefining the means of support for internal information flows.

The objectives of the Digital Workplace include: increasing the engagement and contribution of employees; improving the corporate climate and compliance, increasing responsiveness to the requirements of end customers and of the sales network; and being at the forefront in the use of technology to fully embrace smart working practices.

Employee benefits

Over the years, the Mediolanum Group has set up many services and activities to help its employees establish a work-life balance, often following employee suggestions, demonstrating the importance of employees to the Company and helping to improve the quality of professional relationships.

Flexitime
The Flexitime scheme allows employees to arrive at work any time between 8:30 a.m. and 9:30 a.m. Mediolanum also meets employee needs by adopting flexible, part-time contracts. In 2014, 52 employees took advantage of part-time contracts, with 19 different schedules.

Employer-sponsored supplementary pensions
Some time ago, the Group established a Company Pension Fund, available to all employees. The mechanism incentivises employees to enrol, as those employees (with "banking" contracts) who opt to pay their productivity bonus into the fund will see their bonus increase. At the end of 2014, approximately 85% of middle managers and 86% of non-management employees had joined the scheme.

Protection: supplementary health insurance
Supplementary healthcare is a benefit offered free of charge to employees (middle managers and non-management employees covered under banking, insurance and commerce contracts, hired with permanent employment, trainee or apprenticeship contracts). It includes coverage for a range of medical expenses, and in some cases can be extended to the employee’s family for an additional payment.

Tax Assistance
Again in 2014, a free tax assistance service – introduced several years ago – was offered to employees to help them file their annual income tax returns. This year, 1,295 employees took advantage of the service, +6% on last year.

Special terms for products and services
In 2014, even more favourable conditions were offered to employees subscribing to Group products and services, particularly on rates for mortgages and loans. Employees may also take advantage of special terms for Group products and services, such as:

Mortgages;
Protection and life insurance products;
Current accounts;
Credit and personal loans;
Financial products and services (e.g. mutual investment funds and supplementary pension plans).

Moreover, a general advice service on savings and investments regarding the Group’s products is available for employees and their families. The service is free and run by Group employees, known as ‘Supporter di Sede’ (Headquarters Support Service).

Employee involvement
Mediolanum Group employees actively take part in improving the efficiency of corporate processes. One of the principal methods for doing this is the Work Improvement Teams, first introduced into the Company in the 1990s. Following the positive results of this method in terms of Company climate and the active engagement of people in Company life, as well as economic benefits and process improvement, a new initiative was launched in 2014: Idea Management, which takes an even more cooperative approach and aims at engaging the entire workforce in improvement.

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