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Workers at the core

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The remuneration system is periodically updated using criteria based on meritocracy and internal fairness

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In 2018, with the objective of creating greater alignment of the long-term variable remuneration with the primary goal of creating value for shareholders, the scope of possible recipients of the Long-Term Incentive Plan (ILT) was extended to cover all senior management.

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During 2018, relations between Snam and the trade unions continued, both nationally and locally, with 109 meetings

Valuing and developing internal resources is a key objective on which Snam aims to place increased focus. In fact, for years, in addition to training, Snam has chosen to place its workers at the core of the business, incentivising them financially and professionally.

At Snam merit is at the heart of all management actions and it is rewarded both in terms of professional development and career opportunities. At the same time, it is the benchmark so that the management of people responds to the criteria of fairness and sustainability.

The remuneration systems are periodically updated based on comparisons with the reference markets as well as taking into consideration information from external stakeholders. Specifically, they seek to ensure recognition of results achieved, the quality of professional contributions made and people’s potential for development.

In 2018, with the objective of creating greater alignment of the long-term variable remuneration with the primary goal of creating value for shareholders, the scope of possible recipients of the Long-Term Incentive Plan (ILT) was extended to cover all senior management.
In 2018, the use of the new target assignment and assessment system known as Performance Management, was confirmed; it also contains targets regarding behavioural aspects, sustainability and the prevention of accidents in the Workplace.

 

Target population Compensation systems
Executives The remuneration system consists of two parts: a fixed remuneration, with annual adjustments for merit or increased responsibility or more senior role, and a variable remuneration with incentives aimed at enhancing professional contributions in the shortterm, by awarding an annual monetary incentive (IMS), as well as in the medium-/long-term by allocating a long-term share-based incentive (ILT).
Claw-back mechanisms are also provided, for the recovery of the variable portion if the resulting compensation is not due because it was earned based on targets that were attained as a result of malicious or grossly negligent behaviour or that were proven to be
manifestly incorrect.
The Total Reward Statement, an information package on the composition of the individual remuneration, guarantees the enhancement and transparency of the remuneration system.
Non-executive personnel
Snam adopts a short-term variable incentive plan intended to reward best performance and the young resources with potential for development.
All the companies in the group provide a “Participation Bonus”, instituted by the National Collective Labour Agreement, based on the performance of profitability and Productivity parameters, measured in relation to the targets agreed upon every year between the company and the trade-union representatives.

 

All the jobs within Snam, with the exclusion of executives, undergo an analytical and overall evaluation regarding the Complexity, Responsibility, Experience and Autonomy (C.R.E.A.) factors. In 2018, 198 CREA assessments were approved. 

Snam guarantees all workers the right to express their thoughts freely, to join associations and to engage in trade union activities. At the end of 2018, 27.1% of employees were members of a union.

For the purposes of engaging in trade union activities Snam offers its personnel:

  • appropriate meeting areas
  • dedicated permits for workers

In 2018, note that from the perspective of industrial relations, continued relations with the unions, nationally and locally, included around 109 meetings dedicated to plans for business evolution and new organisational structures, following the acquisition of Cubogas.

As regards transportation and storage, the integration process created by the Integra project continued to integrate the cross sectoral activities of the operational companies in order to develop and exploit specific skills.
Regarding the transportation business, the Smart Gas technical committee’s work continued, seeking for a more rational scheduling of the operations with the goal of analysing the technical aspects of the project. A technical commission was launched for the “Smart Gas Plants” project with the aim of analysing technical issues relating to this further technical-organisational development.
In the regasification business, meetings were held with the trade unions, at national and local level, aimed at sharing and comparing the issues concerning the evolution of the business.
The bargaining dynamics, consistent with the provisions of the 2013 Industrial Relations Protocol, whose reasoning were imbued with the concept of strengthening second-level negotiations, led the Parties to define productivity and profitability indicators for the 2018 Participation Bonus for all Snam Group companies.
In addition, all the Snam Group companies signed the agreement implementing former Article 4 Law 92/2012 for the early departure in 2019 of further 110 employees in possession of the requirements.
Electronic ticketing was introduced at group level in all the regional operating premises through a trade union agreement.

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updated
01 April 2019 - 10:01 CEST