Vozrozhdenie Bank’s human resources policy is focused on ensuring the implementation of the strategic goals through agile personnel development and maintenance of high performance. In its current version, the HR policy was approved by the bank’s Board of Directors on December 26, 2014.
In terms of HR policy, the bank’s priorities are to:
- Develop an HR management strategy
- Implement a project that involves HR function centralisation at the branch offices in the Moscow Region
- Ensure compliance of all HR activities with the legislation of the Russian Federation; draw up and keep up-to-date relevant internal regulations
- Develop bank employees’ and management’s knowledge, skills and potential
- Conduct staff performance reviews
- Recruit new employees
- Improve the system of motivation
- Design and implement a system of key performance indicators (KPIs)
In 2015, the bank’s HR policy includes such priorities as enhancement of motivation systems, HR management process improvement, HR documentation standardisation through automation of the bank’s IT system, and development of personnel expertise and professional potential.
The total number of employees at the bank in 2014 was 6,516, which was down a bit from the previous year. The Head Office hired 18 new employees, while the branch offices saw a reduction of 110 employees. The decrease in staff numbers in the branch offices was due to the introduction of new customer service technology, functional centralisation and operations optimisation. Specifically, in 2014, the bank implemented a project that involved the centralisation of personnel record keeping at its Moscow Region branch offices.
The average age of employees was 40 years old. With many employees having reached 10 or even 15-year tenure milestones, the bank has achieved outstanding results in terms of workforce loyalty. The rate of employee turnover was 22% for 2014, representing a slight reduction at the Head Office (1%) and an increase at the branch offices (3.1%).
STAFF BREAKDOWN BY AGE, GENDER AND POSITION IN 2014
|Number||Avg. age||Number||Avg. age|
|Branch managers and deputy managers||47||43||84||50|
Vozrozhdenie Bank has been building a talent pool, aiming to retain, develop and promote employees who have great potential. Amongst the initiatives the bank has been working on are career and succession planning for branch managers and regular training sessions that help employees develop their key competences. A total of 44 staff members took part in the programme from 2010 to 2014. As of December 31, 2014, a total of 30 employees from the bank’s branches were part of the talent pool. Another 15 employees from branches have been chosen from 57 new candidates to develop their management competencies in the programme in 2015.
Employee training and development is among the priorities of the bank’s HR policy. In 2014, a total of RUB 26 million was invested in training, which is an 18.4% increase compared to 2013. The duration of training per employee grew by a quarter, reaching 64 hours versus 48 hours the year before.
The variety of training options includes distance or face-to-face training, in-house or externally conducted courses and group or individual sessions. The bank’s in-house Training Centre has prepared and implemented 10 training programmes for various groups of employees. The bank has a distance learning library that includes over 70 online courses covering all areas of the bank’s business, 15 of which were developed and launched in 2014. During the reporting period, 6,000 bank employees received training via distance learning; they took about 26,000 courses, a record number unsurpassed in the history of the bank’s distance learning system.
The bank is planning to update all the courses in its online library and create over 20 new training programmes in 2015.
In 2014, the bank continued its joint projects with universities, secondary schools and professional development institutions. The bank keeps regular contacts with 76 educational organisations. Bank employees receive training on banking industry-specific topics from academic lecturers on a regular basis. The bank offers internship opportunities to undergraduates every year.
FACETS OF LEADERSHIP, A TRAINING PROGRAMME FOR MANAGERS
Facets of Leadership, a series of training events that took place in October 2014, became one of the most remarkable training programmes for managers. A total of 198 managers representing the bank’s branches, along with employees from the Corporate Business Department at the Head Office, took part in the programme.
Facets of Leadership covered five groups of skills that every manager uses in their everyday work, including goal setting, delegation and control skills, argumentation skills, negotiation skills and problem solving skills. The participants, who were invited to play an educational game in a comfortable setting, improved their argumentation skills in the course of the programme. They also got the opportunity to learn some of the latest leadership techniques, upgrade their communications skills, bringing them to a new level of sophistication, acquire different styles of interaction for teamwork and individual effort and devise winning tactics of their own.
Compensation and Motivation
Committed to developing its team so as to maximise their professional potential, the bank is constantly improving its system of financial and moral motivation. The bank maintains its employee compensation at competitive levels, making efforts to implement the Bank of Russia’s guidelines regarding compliance with internationally accepted standards of compensation and benefits. Key performance indicators have been developed and introduced as part of the ongoing effort to improve the incentives system.
For example, in 2014 a set of KPIs was developed for the Management Board, branch and branch manager levels. Alongside these initiatives, there is a variety of bonus programmes based on reliable performance assessment methods. Moral incentives for bank employees, which have become a common practice, include certificates of honour, letters of appreciation, entry in the bank’s Book of Honour, etc.
AVERAGE EMPLOYEE COMPENSATION
Social Security and Benefits
Being fully committed to ensuring an adequate level of social protection for our employees, the bank is implementing a range of employee support programmes. Among other measures, the bank provides voluntary medical insurance, voluntary accident insurance and maternity leave pay. The benefits package also includes reduced-price lunches, New Year’s Day presents for employees’ children and lower interest rates for consumer, auto and mortgage loans.
Health and Safety
The bank has a Health and Safety Department responsible for ensuring compliance with the applicable health and safety regulations and requirements. The department implements a number of preventive measures, aiming to minimise occupational disease and on-the-job injury rates. Every employee is provided with mandatory training on workplace health and safety.