At HELLENIC PETROLEUM the remuneration system is designed to recognize and reward employees for their accomplishments and performance and for the value that they bring to the Group. The Group is committed to providing competitive salaries that are designed to attract, retain and motivate employees and ensure the skills required for succeeding in all aspects of our business activity.
The remuneration policy for our staff is determined by the Business Collective Labour Agreement. The remuneration and benefits for Executive Level employees are determined by a remuneration system which is directly linked to the assessment of their positions, their individual performance and the attainment of goals set.
At the same time, we apply a benefits policy that provides meaningful support to our employees and their families. We are there to help at all times, providing support, safety and security. While these benefits vary by company and by country, all employees are provided with medical insurance, full or partial disability insurance, pension plans, and child benefits, such as nursery expenses, educational aid, awards for outstanding academic performance, etc.
Indicator 201-1 (http://sustainabilityreport2017.helpe.gr/en/sustainability-standards-and-verification/GRI-Standards/) presents all benefits and policies for employees, which in 2017 exceeded € 30 million. The average employee retention rate (loyalty indicator) was at 95.2% (http://sustainabilityreport2017.helpe.gr/en/sustainability-standards-and-verification/GRI-Standards/, indicator 401-1).
Additional insurance (Life & Health) and pension plans cover 87.37% and 75.87% respectively of employees (average rates).
All employees participate in an annual performance review, to assess their performance and plan for further improvements in knowledge and skills.
In 2017, all employees (Group average at 93.73%) were evaluated according to the standard evaluation system. Indicator 404-3 (http://sustainabilityreport2017.helpe.gr/en/sustainability-standards-and-verification/GRI-Standards/) provides detailed data by Group company.