Vnesheconombank’s HR policy is based on the strict compliance with the requirements of the Constitution, Labour Code and other legal regulatory acts of the Russian Federation. Vnesheconombank has no forms of labour discrimination and guarantees equal rights and opportunities to all its employees regardless of their gender, religious and political beliefs, ethnic origin and age. In 2013, Vnesheconombank did not record any breaches of labour laws.

In its efforts to improve the personnel management system, Vnesheconombank is guided by the leading-edge approaches and best global practices to keep the personnel management system sufficiently flexible and ensure that it is rapidly and efficiently adapting to changes in legislation and the market situation.

Vnesheconombank’s shop-floor trade union, which counted 945 members as of late 2013, follows up the compliance with the terms of employment agreements and corporate regulatory documents of Vnesheconombank that govern the personnel’s health and labour safety and non-government pension security.

As of the end of 2013, the actual headcount of Vnesheconombank was 2,235 employees, which is 213 employees higher year-on-year. The Bank’s headcount structure did not undergo any significant changes. As in 2012, women (53.3%) marginally outnumbered men, while employees aged between 31 and 50 years still accounted for a larger part of the personnel (53.96%). The share of employees with a higher education degree slightly grew from 83% as of late 2012 to 86.4% as of the end of 2013.

The personnel turnover rate is determined in line with GRI methodology based on the number of employees who have quit the organisation at their own will, dismissed for other reasons, retired or deceased while employed by the organisation.In 2013, the personnel turnover rate in Vnesheconombank stood at 0.06. In total, 131 employees left the Bank in 2013, which is 46 employees more than in the previous year.

Vnesheconombank’s personnel turnover rate in 2013

Structure of Vnesheconombank’s personnel by type of employment

Vnesheconombank’s Regulations on Recruiting the Personnel to Fill Vacant Positions sets out the principle of equal opportunities for all applicants participating in the competitive selection procedure, and unbiased evaluation of their capabilities. Applicants’ professional qualities are the decisive factors in making the employment decision, with no preferences for local residents.

Vnesheconombank operates an on-boarding system for new employees to promptly and efficiently adapt to their new positions. The system assigns a coach to each new employee, who is responsible for the employee’s on-boarding. The coaches are selected out of the most experienced employees with similar job duties. In 2013, on-boarding courses were organised for 266 new employees.

Vnesheconombank focuses on building and enhancing an efficient labour remuneration system as a priority of its HR policy. In 2013, Vnesheconombank continued elaborating its labour remuneration and employee incentive system to make the staff more motivated in achieving Vnesheconombank’s strategic goals by diligently performing job duties up to the highest standards. The employee remuneration level is determined based on transparent standardised mechanisms that pursue a differentiated approach to incentivising payments depending on corporate performance against key performance indicators and the employee’s individual performance.

Additionally, in 2013, Vnesheconombank developed and implemented a procedure that provides for lump-sum bonuses payable to employees who help to solve the Bank’s emerging challenges and implement initiatives promoting the Bank’s growth.

In 2013, Vnesheconombank ran its annual personnel appraisal to evaluate employees’ individual performance in 2012 subject to individual targets achieved by employees and the professional and personal competences developed by them. In the reporting year, 1,585 employees of the Bank underwent a performance and career development appraisal (666 men and 919 women, which represents 63.8% men and 77.2% women of the total headcount for these categories). The results of the appraisal were used to assess the individual portions of the annual bonuses payable to employees.

In general, the current level of remuneration payable to Vnesheconombank’s employees is in line with the average market figures of the lending and financial industry. In 2013, the amount of salary for the low-level employees was RUB 14,400, which was 1.18 higher than the minimum wages set out in the Agreement between the Government of Moscow, Moscow Trade Union Associations and Moscow Employer Associations of 12 December 2012.

An important component of Vnesheconombank’s employee incentive framework also consists in non-financial rewards. In 2013, the Bank awarded marks of distinction for good faith labour and excellence to 320 employees (14.3% of total headcount).

To maintain a high professional level and motivation of its employees, Vnesheconombank operates a personnel training system that seeks to enhance employees’ qualifications and train them in knowledge and skills to remain highly competitive in the labour market.

In 2013, the training events were attended by 1,270 employees of Vnesheconombank (56.8% of total headcount). The average number of training hours per employee was more than 12.

In 2013, the personnel were trained in:

• anti-money laundering and counter terrorist financing;
• combating the illegal use of insider information;
• accounting and IFRS;
• foreign language and information technologies;
• labour safety;
• management, finance and investment.

Additionally, in 2013, 10 employees of Vnesheconombank had an opportunity to complete higher education programmes for account of Vnesheconombank.

Vnesheconombank has been consistently assessing the efficiency of training events by running a questionnaire survey among employees that participate in such events. In 2013, more than half of employees that took part in the trainings (56.4%) assessed the organisational level of the training events as “excellent”, while 98.2% of respondents noted that they would apply new skills in work. The results of the employees’ feedback are taken into account when preparing the training plan for the next year.

In 2013, Vnesheconombank launched a corporate training portal to enhance its training system. The portal’s functionality includes special remote e-courses for employees, participant feedback capabilities, and a database for all training events of the Bank.

To analyse the best international practices and leading-edge technologies, Vnesheconombank’s representatives regularly participate in events providing for experience exchange with foreign development institutions, international financial organisations, associations, unions, training centres and business schools.

As of the end of 2013, Vnesheconombank Group’s headcount was Exclusive of subsidiaries and associates of Vnesheconombank Group entities.16,807 employees, up 544 employees year-on-year. The Group’s headcount structure did not undergo any significant changes. As in 2012, women (65.16%) marginally outnumbered men, while employees aged between 31 and 50 years still accounted for a larger part of the personnel (50.3%). Highly qualified employees with a higher education degree form the backbone of the Group’s team (82.2% of total headcount).

In 2013, the salary level for the low-level employees in all Vnesheconombank Group’s entities was above the minimum wages applicable in the regions of their presence. A number of entities ran personnel performance appraisals (Share of employees subject to periodical performance and career development appraisals in 2013, by gender).

Exclusive of data related to Vnesheconombank.Vnesheconombank Group’s personnel turnover rate in 2013

Vnesheconombank Group’s personnel by type of employment

In 2013, employees attended career enhancement and occupational retraining programmes in all entities of Vnesheconombank Group. Additionally, some entities of the Group provided their employees with an opportunity to complete personal competences development programmes and take foreign language and computer literacy courses (Average number of training hours per employee in 2013, by employee gender and category).