Workers at the core
The remuneration system is periodically updated using criteria based on meritocracy and internal fairness
In 2019 the number of sustainability objectives assigned is higher compared to the previous year
During 2019, relations between Snam and the trade unions continued, both nationally and locally, with 110 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 2019, the second cycle of the Performance Management system was launched, which saw the expansion of the population involved to include all administrative staff on the headquarter (Corporate and Operations).
In 2019, the sustainability targets assigned were more than the previous year because there was a significant increase in the number of administrative staff within the scope of evaluation and the green business activities (Hydrogen, Biomethane, Biogas) were enhanced. These distinctive behaviours, included in the Performance Management system, demonstrate how the Company is integrating its sustainable business model with the promotion of virtuous behaviours.
|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
The Total Reward Statement, an information package on the composition of the individual remuneration, guarantees the enhancement and transparency of the remuneration system.
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 2019, 225 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 2019, 25.7% 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 2019, note that from the perspective of industrial relations, continued relations with the unions, nationally and locally, included around 110 meetings dedicated to plans for business evolution and new organisational structures.
Specifically, the “Integra” project concluded the integration journey between the commercial and physical Dispatching, optimising transportation and storage activities. The work of the "Smart Gas" and "Smart Gas Plants" projects technical committee continued, seeking a more rational scheduling of the operations with the objective of analysing the technical aspects of the projects. The "Tracking Vehicles" project was introduced through a trade union agreement that allowed the pool of vehicles involved in transportation activities to be fitted with a tracking device which is helpful to monitor the network and the assets in general.
Regarding the regasification business, meetings were held with the Trade Unions, nationally and locally, in order to share and discuss topics involving the business development.
The discussion continued for the definition of productivity and profitability indices for Performance-Related Pay for 2019 for all the Group companies and the good results for the 2018 bonus were recorded. All the Group companies signed the implementation agreement pursuant to Article 4 of Law 92/2012 for the early departure in 2019 of an additional 110 employees who were eligible. The parties signed the new trade union agreement on smart working methods extending it to the entire corporate population.
04 May 2020 - 15:53 CEST