Friday, 28 May 2021 Inter RAO Group Consolidated Financial and Operating Results for 1Q of 2021.
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Social Policy

Social Policy
By 2.3 times Salary exceeds the minimum statutory monthly pay (*depending on the region of presence)
5,259 people Received non-financial incentives in 2019
71.5 Employee Satisfaction Index (ESI)

The corporate culture in Inter RAO is based on the principles of priority of the overall result, mutual assistance, and mutual respect of employees, regardless of the position, gender, or any other features.

The social policy of Inter RAO adheres to the international standards and best practices in the sphere of human rights, labor relations, environmental protection, anti-corruption management, and interaction with stakeholders. The Company is guided by the Guidelines on Social Responsibility (International Standard ISO 26000) and the universal principles of the United Nations Global Compact in the sphere of human rights, labor relations, environmental protection, and anti-corruption management, the Social Charter of Russian business, as well as the Sectoral Tariff Agreement in the Electric Power Industry of the Russian Federation.

The Company strives to create a uniform set of values among employees, create an atmosphere of honesty and openness, a favorable psychological climate, contributing to the achievement of the Group's strategic goals and increasing the efficiency of its operations.

Social benefits and guarantees are an important tool of the Group's personnel policy.

The key social program areas are

  • Health and safety of employees.
  • Health and activeness of employees.
  • Support for young professionals.
  • Career development.
  • Support for the best employees, work with the candidate pool.
  • Help to young families.
  • Social welfare of employees.
  • Support for retired employees.
  • High level of the production culture.

The companies of the Group provide comprehensive support to employees in various life situations, pay serious attention to treatment and rehabilitation of personnel, providing high-quality medical care and organizing health resort treatment for employees. Employees' children are being cared for by providing financial help to large and single-parent families, orphans, and disabled children. In addition, holidays in recreation centers for children, participation in corporate celebrations, sports events, and excursions to the Group's facilities are organized for them every year.

Financial incentives

In 2019, activities to improve the personnel financial incentive system were continued by projects in the Sales segment: the remuneration systems of JSC Mosenergosbyt and JSC PSK (about 5,500 people in total) were brought to the 75th percentile of the relevant regional labor markets, which makes it possible to count on increasing staff satisfaction of the pay system and decreasing the turnover level.

In 2019, the Cafeteria Plan continued to successfully operate in power supply companies: LLC ESKB and PJSC Tomskenergosbyt. The Cafeteria Plan includes voluntary medical insurance, payment for vouchers, sanatorium-resort rehabilitation, training for employees and children, payment for fitness, etc. The incentives scheme is related to the current remuneration system. This makes it possible to select benefits from the proposed list on the corporate portals online; the limit is determined by points in accordance with the grades.

Measures to increase labor productivity allow Inter RAO to pay to entry-level employees' wages that usually exceed the minimum statutory monthly pay by an average of 2.3 times depending on the region of presence, which makes it possible to quickly fill vacancies and effectively solve the problem of replacing retiring employees.

The Group uses a personnel assessment system based on a combination of assessment of Key Performance Indicators (KPIs) and competencies, being a good motivator for employees, as it allows them to focus not only on improving work efficiency but also on developing key professional qualities that contribute to achieving the required results.

All employees go through a periodic performance assessment that directly affects incentive payments to enhance their interest and strengthen the responsibility for the results of their work.

Non-financial incentives

In 2019, 5,259 Group employees received incentives: 30 employees received state awards and 181 employees received ministerial awards. 5,048 employees received corporate awards.

Survey of job satisfaction was carried out among employees in October 2019. The following aspects were assessed:

  • labor compensation,
  • non-financial incentives,
  • labor conditions,
  • ability to use one's potential,
  • corporate communications,
  • psychological climate,
  • career prospects,
  • management;
  • stability, loyalty, and confidence in the future.

The survey was performed in October 2019. 91% of the Group's employees participated in the survey. For reference, this indicator amounted to 84% in 2018. It is also worth noting that according to the results of the 2019 survey, the ESI (Employee Satisfaction Index), which is the summarized employee satisfaction index, increased from 69.9% in 2018 to 71.5% in 2019.