Professionally competent investment work as a high-quality service and well-performed activity
Finnish Industry Investment's human resource management aims at developing a committed and skilled investment organisation with a high level of job satisfaction. In FII's earlier corporate image survey, the most important characteristics associated with the company were reliability and the professionalism and competency of its personnel.
FII's personnel at the end of 2013:
- 29 permanent employees and one employee on a fixed-term contract
- 12 women, 18 men
- number of personnel has grown by one since 2012
- personnel turnover 8,3 %
- average length of employment 6,4 years
- 77 % of the personnel have a higher academic degree
- 90 % of the personnel have academic education in a financial or technical field.
Training and development
FII plans its human resource management 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.
FII is an expert organisation that encourages its personnel to engage in continuous training and development of their professional skills. Skills development is coordinated at the team level, and the company’s annual action plan specifies key areas for training and development.
All personnel are included in a personal development discussion scheme. Held every year with the aim of motivating personnel and improving the work community, personal development discussions are a channel for information exchange between employees and their superiors. A discussion reviews the skills and development needs of each employee, and the skills his/her duties require, based on which a training plan is formulated. The process is an element of the management system, and it aims at tangibly implementing and guiding the company's strategic objectives at a unit's and individual's level.
Altogether 22 of FII's employees attended a variety of training events, totalling 99 training days, in 2013.
Bonuses paid to personnel in 2013 amounted to €533,000. The maximum bonus amounted corresponding to 1-4 month's salary.
FII revised its remuneration system in 2013, in line with the Finnish government’s statement on management remuneration in state-owned companies (issued on 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 measurable and sufficiently demanding criteria specified in advance. The Board of Directors sets the targets and retroactively assesses achievement levels. The targets promote ownership value and encourage achievement of special tasks.
FII's guiding principle for equal opportunity activities is fair and equal treatment for all employees. The company’s equal opportunities plan was drafted in 2013. The project was steered by an equal opportunities group, comprising representatives from all personnel groups. The composition of the equal opportunities group for the following year is decided separately in conjunction with preparing the company’s annual Action Plan, at which time implementation of the equal opportunities plan is also reviewed.
Equal opportunities in the workplace is reviewed through, inter alia, a job satisfaction survey and an equal opportunities questionnaire.
Wellbeing and job satisfaction
Wellbeing at work is promoted in a number of ways and by activating the entire personnel. Personal development discussions are held annually, and the job satisfaction survey is conducted at regular intervals. Flexible personnel policy takes employees’ differing life situations into account. Wellbeing at work is also promoted with events arranged each year.
A job satisfaction review has been conducted amongst personnel since 2009, and is repeated at 1-2 year intervals. The survey aims to chart the company's strengths, identify aspects that could be improved and utilise the results in developing operations.
FII conducted the survey in 2012. The results show that the satisfaction level of personnel is on a good level compared to peer companies and has risen compared to the last survey in 2010. The next survey will be conducted in 2014.
Occupational health service
All FII's personnel are covered by an occupational health service. An occupational health service action plan for 2014-2016 has been prepared with a occupational health service provider. The occupational health service includes preventive health care in the form of ergonomic studies and medical examinations. There were no accidents at FII in 2013. Absence rate due to sickness in 2013 was approximately 3%, below the average for the financial services sector in Finland. Source: Confederation of Finnish Industries EK, Työaikakatsaus 2012 (in Finnish).