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” 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. 

The constant dialogue between the Company and the Trade Unions resulted in the signing of 43 agreements in 2018 (and over 280 between 2014 and 2017) which dedicated plenty of space to defining an integrated welfare system characterised by heavy investment and innovative initiatives in the area of work-life balance, inclusion and non-discrimination, and sustainable development.


Flexible work

Since March 2015, following the agreement between the Company and Trade Unions on December 10 2014, 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.

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The Flexible Work project continued in 2018 involving an increasing number of structures and people across the Group (over 11,500 employees in Italian perimeter).

Employees can carry out their work: 

  • from home 
  • from a company location other than the assigned one ("company hubs")
  • from our customer's premises.

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.

The positive evidences emerging, not only in terms of colleagues' satisfaction but also of business productivity, led the Bank and Trade Unions, also within the Welfare, Safety and Sustainable Development Committee, to continue with the project, paying particular attention to network entities operating in Italy, offering them the opportunity to benefit of professional training through the "smart learning".
In this regard, as part of the new second-level collective agreement, with the “Training” Agreement, the Company and Trade Union Organizations have undertaken to seek solutions that allow for ever-increasing availability of flexible training, from home or in the office, through the development and dissemination of digital training tools and contents.
The extension of Flexible Work also continues within the scope of the International Subsidiary Banks Division: after Banca Intesa Beograd, the phase of experimentation of Flexible Work has begun, also in Intesa Sanpaolo Bank Albania.

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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This pool is supplied by the Bank, with an initial allocation, that can be increased with voluntary donations from employees and, in equal measure, from the Bank. In 2018 employees donated 8,695 hours, which were topped up with the same number of hours by the company, for an overall total of 67,390 hours. As part of the same Time Bank initiative, a corporate volunteering project was promoted that enabled 397 people in 2018 to carry out volunteer work, on work days, on behalf of external associations and bodies chosen by the Group. A total of 2,926 hours of leave were granted.

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 15 working days, increased to 20 from 1.1.2019, 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 non-mandatory parental leave in the event of use by the dependent father
  • permits for specialist visits for staff suffering from serious diseases and for the assistance in school activities at home to children with specific learning disabilities.

Complementary pension

As regards the supplementary pension plan, following the conclusion of the first phase, launched by the collective agreements of October 2015 with the institution and the introduction of the Intesa Sanpaolo Group defined contribution Pension Fund (6 billion euro and 75,000 subscribers at the end of 2018), work continued to expand the offer and streamline the financial structure of the Fund, which currently comprises 5 financial segments and 1 insurance segment. Subscribers can therefore make their own investment choices, distributing their capital in one or more of the available areas

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. In this sense, the Excellence Protection System (SET) is also connected to the PVR 2018, which aims to define the contribution to be paid to Banca dei Territori personnel involved in the offer of insurance products.

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) and ways to promote a culture of attention to inclusion, support for disability 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 (for example, maternity, illness, etc.). In order to contribute to the financing of these initiatives, in the same agreement “Arrotonda Solidale” is introduced, which from January 1, 2019 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 experimentally 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 900 new hires are envisaged with this type of contract.

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