Labour/Management relations

The Group's relations with Trade Unions are based on the principles of fairness and respect of roles, in compliance with regulations, in order to set up new agreements to increase growth, competitiveness and sustainable employment.

The exchange of opinions and the search for shared solutions together with Trade Unions - aimed at safeguarding the personnel involved under the occupational, professional and economic-regulatory profile - have constantly guided our Group’s operational and corporate reorganisation processes.

The Group has been characterised since its inception by a complex welfare system that was developed also through discussion with Trade Unions; the agreements at Group level are integrated with those regulated by national collective bargaining, offering all employees a complex system of guarantees - supplementary pension funds and supplementary health care - flexible solutions aimed at work-life balance - through permits, leave, flexible working hours, part-time options, etc. - as well as subsidies and economic contributions, such as benefits for families with disabled children, out of the workplace accident policies, loans, mortgages, meal vouchers and scholarships.

During the years, the “Welfare, Safety and Sustainable Development Committee”, composed by company and trade union representatives, has promoted a series of measures and interventions that have subsequently found their concrete realization in specific trade union agreements, such as the agreement for the introduction of the Flexible Work and the Time Bank, the agreement on the conciliation of life-work balance, the Protocol on Inclusion and equal opportunities and the measures in favour of active ageing. 

During 2020, the interaction between the company and the trade unions also took place via remote methods. 42 agreements were signed in 2020 which continued to focus attention on the Group’s integrated welfare system.

In relation to the COVID-19 emergency, in support of the extraordinary care and assistance needs of family members, a trade union agreement was signed which provided for specific family and parenting support measures.

As part of the process of integrating the UBI Group into the Intesa Sanpaolo Group, on 14 April 2021, after a broad and detailed discussion with the National Secretariats and Trade Union Organizations of the Group, an agreement was signed that defines the path to harmonize salaries / regulations relating to all the personnel of the new Intesa Sanpaolo Group by establishing a program that identifies the phases and matters that will be subject to comparison from time to time, also in consideration of the next expiry of the second level contract scheduled for 31 December 2021.

Flexible work

Since March 2015 the Flexible Work has been available for numerous colleagues, as a way of working that, integrated with the agreements already envisaged by the corporate welfare, combines company's needs with personal and family's needs.

In 2020 Flexible Work provided to be a winning model in the organisation of work and an effective tool also in the COVID-19 emergency. In order to make it possible to extend Flexible Working also to structures not previously included or with strong operational or technological constraints, Intesa Sanpaolo has accelerated the supply processes of IT equipment and the identification of innovative solutions. With the trade union agreement dated 11 June 2020, the option to join the Flexible Working scheme was activated for all Group people with children under the age of 14, in all roles and/or duties, including in- Branch, providing for the right to use at least one day of remote working from home per week, if requested. At the end of 2020, employees joining the Flexible Working scheme stand at approximately 65,500 (the figure stood at approximately 17,250 at the end of 2019).

Employees can carry out their work: 

  • from home 
  • from a company location other than the assigned one ("company hubs")
  • from our customer's premises.
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People are the core of this project, which promotes a cultural change by strengthening the relationship of trust and mutual accountability between managers and employees, between the company and the employee. Colleagues participate to the flexible working project on a voluntary basis; within the structures involved the inclusion criterion is applied, so that all employees who possess some basic requirements are enabled to join. A particularly relevant and innovative aspect of this project is that colleagues can work from home up to 8 days a month, also fractionated, and without specific time limits from a company hub or from our customer's premises.

In the emergency context due to COVID-19, in line with the indications provided by the Government and the competent authorities, in order to reduce physical presence even in the branches, for greater health protection, Flexible Work from home was authorized without time limits required by company legislation.

Within the scope of the International Subsidiary Banks Division, in addition to the banks where it was already active in 2019 (Banca Intesa Beograd, Intesa Sanpaolo Bank Albania, CIB Bank and VÚB Banka), flexible working was activated at the beginning of  2020 in PBZ for Head office staff on a target population of 764 employees. As from March, concurrently with the COVID-19 emergency measures, flexible working was extended to 74% of the banks' Head office staff, while other protection measures were identified for network personnel. In the second half of the year, following internal surveys and in line with the provisions of local laws, the Banks launched new projects and flexible working methods which include an increase in the maximum number of work-from-home-days (CIB Bank, VÚB Banka), the revision of the layout of office spaces to a more sophisticated one (VÚB Banka), and the extension of flexible working to more people, including network personnel (Intesa Sanpaolo Bank Albania ), which at the end of 2020 made it possible to extend the target population to a total of 7,000 employees.

Work-life balance

The Second Level Collective Agreement of the Intesa Sanpaolo Group contains a series of measures aimed at facilitating work-life balance, including the Banca del tempo (Time Bank), that is an annual pool of paid leave hours in favour of employees who need more leave hours than those they are already entitled to, in order to deal with personal and / or family serious and ascertained situations.

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With an initial reserve of 50,000 hours, every person has the possibility of donating  some of their leave or holidays, which the Bank will then match, up to a maximum of another 50,000 hours. Over the course of 2020, in order to cope with the many difficulties generated by the COVID-19 emergency, in support of the care and assistance needs of family members, a specific trade union agreement was signed in June which promoted an extraordinary donation campaign of holidays or bank hours by personnel to the Time Bank, with the aim of allowing them to be used for assistance to the elderly or non self-sufficient people (family members and relatives within the first degree) and to parents with children up to 14 years of age who had fully benefited from the extraordinary leave introduced by the "Cura Italia" Decree and subsequent amendments. 
In addition, the agreement provided the option to benefit from an additional 2 days of hourly paid holiday compared to those due annually as an additional form of flexibility in the interest of work-life balance. In 2020 employees donated 38,500 hours, which were topped up with the same number of hours by the company, for an overall total of 77,000 hours.

Maternity and paternity support is also provided through an excellent company crèche service in Florence, Milan, Moncalieri, Naples and Turin which looks after 255 children, as well as a network of partner crèches across Italy.

Other work-life balance tools have been introduced:

  • the possibility to use suspension days from work, without having to justify the reason, for a maximum of 20 working days, paid 35% of the salary
  • a system of protection of parenthood, which integrates and improves the set of leaves and permits provided for at the national legislative and contractual level, with specific interventions aimed at favoring the involvement of fathers in family care, including 3 additional days of fully paid parental leave in the event of the birth of a child and the integration of the expected economic treatment for both non-mandatory parental leave in the event of use by the dependent father and for an additional 10 days of parental leave that can be used once the parental leave admitted by law has been exhausted. The series of regulations on parental rights has been expanded, on a trial basis, to include an additional form of paid leave to settle children in at crèches or pre-school, and extra days of unpaid leave to care for underage children for separated or divorced parents, the exclusive guardians of children, as well as in the cases of widowhood and single-parent families
  • permits for the assistance of children with specific learning disorders (SLD)
  • permits for specialist visits for the benefit of staff suffering from serious illnesses and permits for assistance in school activities at home of their children students with specific learning disabilities, for the inclusion of children in kindergarten
  • the measures to protect parenting are also applied to adoption and fostering.

In addition, with the agreement of 14 April 2021 - Integration of the UBI Group into the Intesa Sanpaolo Group, new provisions were introduced for all Group personnel regarding:

  • meal voucher for part-time staff who do not perform the meridian interval, starting from 1 July 2021 
  • extension from 2021 of the possibility of using the Time Bank and the Voluntary Suspension of Work provided by the second level bargaining
  • from 12 April 2021 doubling of permits for child birth
  • introduction of new permits for accompanying children and / or spouse / civilly married / de facto cohabitant to the emergency room
  • significant increase in the amount of the providence that the Company recognizes for collaborators with family members with disabilities.

Employee share ownership plan, investment plans, variable results bonus and social bonus

In 2018, in conjunction with the launch of the 2018-2021 Business Plan and in continuity with the LECOIP 2014-2017 (Leveraged Employee Co-Investment Plan), the company signed an agreement with the Trade Unions aimed at defining the new LECOIP 2.0 long-term incentive plan, aimed at giving all personnel the fundamental contribution to achieving the economic and financial objectives of the Plan. These agreements established the recognition of an advance for the 2018 Variable Result Award that could be voluntarily converted by the employees into Intesa Sanpaolo shares to be allocated to LECOIP 2.0, allowing them to participate in the expected value growth with the implementation of the Business Plan, through an individual choice of co-investment in Intesa Sanpaolo shares.

A total of 81% of eligible Group employees have joined the LECOIP 2.0 for a value of approximately 184 million euros.
The collaborators who have joined the Plan will receive the payment of the related net value in April 2022.

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Since 2015, the Group and the Trade Unions have agreed to the introduction of a Variable Result Award (ISR) which has integrated the productivity component of personnel as a whole with the incentive systems aimed at enhancing excellent performance, envisaging increasing recognition for the achievement of different objectives depending on the company reference level (of the Group, Division, etc.) and the type of result achieved with regard to specifically identified economic financial parameters. 

The PVR can also be used with the modalities specific to the c.d. Social Account, or in the form of reimbursements, for example, expenses for the education of children or for assistance services for elderly / non self-sufficient family members, for the purchase of season tickets for public transport or as a payment in one's pension fund complementary.

Training and awareness initiatives

The company cooperates with the Trade Unions to define corporate training plans aimed not only at obtaining professional skills and complying with legal regulations, but also at enhancing the value of human resources.

The training activities’ targets include providing guidance and promoting individuals, as a growth factor of the company community.

These corporate training plans are frequently the subject of evaluation by the Welfare, security and Sustainable Development Committee, followed by specific arrangements with the trade unions aimed at seizing the financing opportunities offered by the Fondo Banche e Assicurazioni.

Further measures on conciliation, inclusion and sustainable development

The renewal of the second-level collective contract, which took place on 3 August 2018, allowed the systematization and implementation of some instruments regarding conciliation, inclusion and sustainable development.

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In particular, the inclusion agreement identifies subjects (Welfare, Security and Sustainable Development Committee and Interfunctional Working Group, Disability Management) and ways to promote a culture of attention to inclusion also through the inclusion of people with disabilities in the world of work, as well as support initiatives for colleagues on the occasion of particular moments of private or working life. In this area, with the contribution of the Trade Union Organizations in the Committee of Welfare, Security and Sustainable Development, ways have been identified, in the experimental phase from November 2019, for support and facilitation actions at the time of return from long absences.
In order to contribute to the financing of these initiatives, in the same agreement  the initiative “Arrotonda Solidale” has been introduced, which provides for voluntary repayment by employees of euro cents of rounding of salary, followed by a further payment by the Complement Company for 1 euro. Furthermore, again on the subject of inclusion, the Welfare Committee will identify the ways to facilitate participation in religious recurrences and the needs of worship through appropriate permission.

Finally, the measures already introduced by the Protocol for sustainable development on 1 February 2017 were confirmed in favor of personnel suffering from serious diseases and / or "over 60" relating to the granting of part-time work, also in the context of "expansive solidarity" and the reasons for priority in case of transfer request for distances greater than 70 km from the residence.

In the context of active employment policies, in order to favor new permanent contracts - with particular attention to the network of branches, to Southern Italy and to the disadvantaged areas of the country - and the simultaneous generational change of the country, the Protocol for the sustainable development of 1 February 2017 has introduced an innovative contractual case which envisages the performance of work activities through the simultaneous presence of two contracts for the same person (one subordinate, part-time and one independent financial advisor) . The first "mixed contracts" were activated in 2017 and up to 380 people are now engegaged with this type of contract, at the end of 2020.

A package dedicated to young people was also introduced, again with the agreement of 14 April 2021, aimed at those who, at the time of hiring in Intesa Sanpaolo in the professional areas and are under the age of 30. The initiative provides for the recognition an additional employer contribution to the supplementary pension in the first 5 years of hiring, and during the first 10 years of hiring a bonus for the purchase of a first home and one for the birth of children.

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