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Prysmian Group – 2015 Sustainability Report
Prysmian’s People
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This focus on individuals is confirmed by the Prysmian Group's commitment to investing in the development
of employee-company relations, via numerous initiatives designed to encourage involvement. The Group
also signs agreements with external partners for the supply of products and services on attractive terms to
employees, such as discounts on theatre tickets, gym subscriptions, magazines and products purchased in
shops.
The initiatives worthy of note include anti-stress counselling given to staff in the Philippines, programmes for
smokers and people with dietary issues in North America, and the possibility for Russian employees to send
their children to summer camps with a discount of up to 80% of the cost.
The Prysmian Group also provides a series of post-employment benefit plans via programmes that include
defined benefit plans and defined contribution plans.
The defined contribution plans envisage payment by the Group, based on legal or contractual obligations, of
contributions to public or private insurance institutions.
The Group satisfies its obligations by making these contributions. The defined benefit plans mainly include
pension funds, employee severance indemnities (for Italian companies), medical care plans and other
benefits, such as long-service awards.
The remuneration policy and the long-term incentive plans were well received by the stakeholders, whose
opinions and feedback are considered when preparing the annual policy. In fact, the human resources
department analyses the reports and opinions obtained from the main proxy advisors about the
compensation report and the incentive plans, and recommends amendments and changes in practices in
response to this input.
With regard to transparency on pay issues, in line with its commitments in 2014, the Group has implemented
a job weighting system, which is designed to enable quick analysis of fairness and alignment with market
pay practices. It has also issued guidelines in accordance with local laws to link pay measures to all levels of
the organisation, while variable pay schemes will be linked to individual performance appraisal.
YES: YOUR EMPLOYEE SHARES
Towards the end of 2013, the Group launched the YES (Your Employee Shares) Plan, which is a share
ownership scheme open to all employees. The Plan has been introduced in 28 countries, informing
employees via an intensive communications campaign and dedicated training sessions. The plan regulations
allow participating employees to purchase Prysmian shares, in certain time windows during 2014, 2015 and
2016, on advantageous terms with the agreement not to sell the shares for at least 36 months subsequent to
their purchase date. Employees participating in the initiative may purchase Prysmian shares at a variable
discount, that ranges from 1% for the Chief Executive Officer and Senior Managers, to 15% for other
executives and 25% for the remaining employees, in order to encourage employees at all levels to take part.
In addition, all participants are given 6 free shares as a welcome bonus. The objectives pursued by this plan
are to increase the involvement, sense of belonging and business understanding of our employees, confirm
the shared, long-term mutual interests of employees, customers and shareholders, and strengthen the
internal perception of the Prysmian Group as truly "One Company". In short, the wish expressed by the
Group via the launch of this plan is to encourage employees to become stable shareholders, thus making
them owners of a small part of the business in which they work.