Relevant policies and risks

[GRI 103-1], [GRI 103-2], [GRI 103-3], [GRI 102-15]

In a competitive scenario where the business and consumption models are undergoing constant and indepth transformation, the Mediobanca Group is aware that change, a fundamental prerequisite for tackling the challenges posed by the market, has to involve leveraging its staff and developing their professional abilities.

Our staff members are our human capital and the indispensable foundation of the Group’s competitiveness. The trust which underpins every employment relationship is regulated by a body of internal policies and procedures, as formalized and approved by the governing bodies or internal offices responsible.

The Group has adopted a Staff Management Policy which describes the roles and responsibilities of all bodies involved in the staff management process: the Board of Directors, Chief Executive Officer, General Manager and Human Resources. The internal procedures and general staff selection, assessment and development processes, training and remuneration are governed by separate policies.

In the performance of their work, Group employees are required to adopt conduct which is in line with our principles and values, which are based on ethics and integrity. Group HR has the task of managing, developing and monitoring human capital and its changes within the Group, ensuring the quality and adequacy of its professional capital.

It is also responsible for ensuring that the activities of selecting, training, assessing and developing human resources are performed correctly, with attention in particular to the administrative activities related to employment arrangements. In the exercise of its activities, Group HR has the objective of increasing the sense among staff of belonging to the Group and of valorizing talent.

For the Mediobanca Group, professional development is at the basis of our growth and hence also that of our staff, which is why we guarantee: adequate training, practical work experience, experience in different positions, performance assessment, career progression and promotion, all of which on a meritocratic basis and in accordance with the principle of equal opportunities and staff needs, as well as the its own strategic decisions and organizational requirements. Furthermore, as required by the regulators, the Bank undertakes to ensure that its staff members are equipped with the competence and professional skills necessary to perform the responsibilities assigned to them.

Material issuesRisks identified by MediobancaMitigation activity
Training and professional development Lack of or insufficient staff training activities, resulting in inadequacy in terms of professional profiles within the Group
  • Definition of a system for tracking competence and performances; Adoption of internal operational regulations to ensure compliance of activities performed
  • Gap analysis to map out the areas for improvement in terms of competences,
    with the gaps to be filled through training initiatives
Staff commitment, engagement and satisfaction High turnover, due in particular to aggressive staff attraction strategies on the part of financial institutions in the Brexit
  • Build sense of belonging to the Group
Managing, attracting, developing and retaining
talent
Lack of or inadequate specific programmes for attractive talent
  • Develop partnerships with universities to identify and recommend talented individuals and implement ad hoc recruitment programmes
Diversity, inclusion and equal opportunities Lack of or inadequate attention paid to diversity issues
  • Develop an employee climate survey to gauge staff satisfaction, with a particular focus on diversity issues with a view to increasing female representation within the Mediobanca Group
Managing, attracting, developing and retaining talent Loss of key figures (key man risk)
  • Preparation of ”Policies for the selection, appointment, succession and performance assessment of company representatives and Group Key Function Holders”

It should be noted that the health and safety risks facing staff members detected by the Group are dealt with in depth in a separate section (5.9. Staff health, safety and welfare).