Remuneration policy
Core provisions of the remuneration policy
The aim of the remuneration policy is to ensure the competitiveness of the organisation and its alignment with modern trends in the remuneration market, by applying centrally standardised processes and principles. To design the remuneration components in such a way that the Company would:
- attract, motivate and retain highly qualified staff;
- encourage staff development;
- respect the principle of internal equity by rewarding the work and efforts of staff;
- continuously improve the conditions of its employees in order to increase productivity;
- contribute to the efficient management of staff costs;
- motivate staff by providing them with a package of fringe benefits.
In order to achieve these objectives, the Company has established a mapping of all active positions and a unified remuneration review framework, which includes the following key elements:
- evaluation of the office position using the internationally accepted job evaluation methodology;
- comparison of internal reward data with market information;
- an annual employee performance evaluation, which includes all employees of the Company.
- These steps ensure transparency in decisions on remuneration and changes in remuneration, while at the same time establishing a remuneration system that is comprehensible to all employees and linked to the performance of each employee.
The main components of remuneration are basic pay, variable pay and fringe benefits.
The basic salary depends on the value created by the office position, which is determined according to a methodology that is recognised and widely used in international practice. Base salaries may be subject to two main review methods: once a year for annual performance or in the event of career changes.
Variable remuneration includes an annual incentive for the achievement of the Company's performance targets and the employee's individual performance. It also includes a monthly or other variable remuneration for a period of less than one year to achieve short-term objectives, which may be applied to employees directly linked to the achievement of operational performance indicators.
Executive remuneration
The remuneration of the general director of the Company consists of a base salary set out in the employment contract and a variable annual component, payable at the end of the year, consisting of an annual incentive linked to the achievement of the Company's annual objectives approved by the Board (90%) and the achievement of the team leadership and personal objectives (10%). Each year, the Board of the Company approves the structure of the Company's annual objectives, the thresholds and the weightings for their achievement and, after the end of the year, approves the results of the achievement of these objectives and the possibility of the payment of the annual incentive. The maximum annual incentive opportunity may not exceed 30% of the annual base salary.
Remuneration of the Company's employees
The disclosure of the number of employees and the average remuneration /work pay (AWP) also includes the estimated AWP for men and women for each office position group and a comparison of these figures.
The Company's remuneration principles are transparent and applied uniformly to all employees, regardless of their gender or certain aspects of their individual identity.
Average salary statement (in the original language)
The actual differences between the average salaries of women and men are due to the gender distribution, with more men than women working not only in the railway industry in general, but also in a number of job groups, especially in operational positions. Women predominate in positions related to support/administrative functions, which are relatively lower remunerated on the market. Men are concentrated in office positions where the scope of the activity leads to more competitive market remuneration or where the nature of the work is of a particular nature – physical exertion, outdoor or other special conditions – where the market remuneration is higher. At the same time, in certain job groups where the distribution of men and women is equal, women's AWP is higher than men's when the individual situations of employees are aggregated.