The goal for FII's personnel management is a committed and skilled investment organisation with a high level of job satisfaction.
The human resources plan is implemented in line with the company's existing strategies, action plans and budget. The President & CEO and team leaders are responsible, both in the teams and together as a Management Team, for human resources planning. The company's HR administration also participates in promoting a proactive personnel policy over the longer term.
Our personnel at the end of 2015:
- a total of 30 permanent employees and 1 fixed-term employee
- 13 women, 18 men
- the number of personnel decreased by one employee since 2014
- personnel turnover 8.33%
- average length of employment 7.1 years
- 90% of personnel have one or more higher academic degrees
- 94% of personnel have academic education in a financial or technical field.
At the start of 2015 the company underwent a Talent Mapping process that included both personal self-assessment and external evaluation, potential analysis, development feedback and a personal development plan. The goal was to improve employee skills and personnel’s ability to implement new strategy. The process mapped the company’s culture and values while simultaneously exploring ideas for enhancing and renewing its operations and developing its remuneration system.
An internal project for redefining our values was launched on the basis of this mapping. Development of the project will continue in 2016.
Development plans, training and coaching
We encourage personnel to participate in lifelong learning and to develop their professional skills.
The Talent Mapping process resulted in personnel development planning that is more systematic and that produces individualised training plans. Individual coaching programmes, now being planned for implementation in 2016, are also a result of this development.
Altogether nine of Finnish Industry Investment's employees attended all-day training events, totalling 41 training days, in 2015. Personnel also had an opportunity to take part in a variety of shorter training sessions and seminars.
Target-setting and remuneration
All personnel participate in target and feedback discussions. In target discussions, personal remuneration targets and meters are set for an individual, while in feedback discussions the level of achievement of the set targets is reviewed. The process is an element of the management system, and it aims at tangibly implementing and guiding the company's strategic objectives at the team level and the individual level.
In matters of remuneration, the company applies the principles embodied in the opinion on management remuneration in state-owned companies (Cabinet Committee on Economic Policy, 13 August 2012). The remuneration system applies to all persons permanently employed by the company.
Remuneration consists of basic pay plus an annual bonus:
- Basic pay is the total pay including monetary salary and any fringe benefits. A job-specific salary is based on how demanding the job is and on work performance.
- Annual bonus is determined on the basis of how well the remuneration targets set for the year are achieved. Remuneration is based on criteria specified in advance. The targets promote ownership value and encourage the fulfillment of the governments special interest in the company.
Bonuses for 2014 paid to personnel in 2015 amounted to €252,529. The ceiling for a bonus under the incentive scheme amounted to 8-30% of fixed salary. The maximum amount of the incentive bonus for 2015, to be paid in 2016, is 30% of fixed salary.
The Finnish government publishes pertinent data about state majority-owned companies. Information about the remuneration of Finnish Industry Investment’s management has been published on the website of the Prime Minister’s Office since 2007 (http://valtionomistus.fi/suomi/yhtiot/palkitsemistiedot/)
Management remuneration in 2015 was:
- President & CEO €219,000
- Other management €776,000
- Board of Directors, total €129,300
Equality and equal opportunities
The guiding principle in equal opportunity activities is fair and equal treatment for all employees. The company’s equal opportunities plan was updated in 2015, and is now referred to as an equality and equal opportunities plan.
Equality and equal opportunities in the workplace are reviewed through personnel surveys. In the job satisfaction survey of 2014 participants highlighted improving gender equality as well as the implementation of responsibility as FII's strengths.
Wellbeing at work and job satisfaction
Surveys of personnel’s work satisfaction have been conducted since 2009. Work satisfaction surveys review the company’s strengths and opportunities, and the results are utilised in developing the company’s operations.
The work satisfaction survey in 2014 produced a very good overall result, with wellbeing at work and personnel expertise both being rated highly. The next survey will be conducted in 2016.
Wellbeing at work is also promoted with work fitness events every year, and the company’s flexible personnel policy takes employees’ differing life situations into account.
Occupational health service
An occupational health service action plan for 2014-2016 has been prepared with an occupational health service provider. A priority for the occupational health service is preventive healthcare; for example, in the form of ergonomic studies and medical examinations. There were two accidents in 2015, neither of which necessitated sick leave absence. Absence rate due to sickness in 2015 was approximately 1%, well below the average (3,5%) for the financial services sector in Finland (source: Confederation of Finnish Industries EK, Työaikakatsaus 2013).