Remuneration policies and systems
All work positions in Snam are subjected to the analytical and overall evaluation of the factors of Complexity, Responsibility, Experience and Autonomy (CREA). In 2016 278 CREA evaluations were approved.
At Snam merit is at the heart of all management actions and it is rewarded both in terms of professional development and career opportunities. At the same time, it is the benchmark so that the management of people responds to the criteria of fairness and sustainability.
The remuneration systems are periodically updated based on comparisons with the reference markets as well as taking into consideration information from external stakeholders. Specifically, they seek to ensure recognition of results achieved, the quality of professional contributions made and people’s potential for development. In 2016 too the verification and optimisation of competitive positioning and the fairness of remuneration practices for managerial and professional resources was completed.
Incentive schemes for different bands of company personnel
Executives
Alongside any annual adjustments of fixed remuneration based on merit or promotion/added responsibility, Snam operates a variable remuneration system designed to promote professional contribution in the short-term, through the allocation of an annual monetary incentive (IMA), and in the medium-/long-term, through the allocation of a deferred monetary incentive (IMD) and a long-term monetary incentive (IMLT).
There are of claw-back mechanisms aimed at the recovery of the variable part of pay which is not due because it is received on the basis of targets reached following wilful misconduct or grossly negligent conduct or on the basis of figures that subsequently prove to be manifestly incorrect;
The development and transparency of the remuneration system are guaranteed by the Total Reward Statement, the information package on the composition of the individual remuneration.
Non-management personnel
Snam adopts a short-term variable incentive system aimed at rewarding the best performances and young resources with potential for development. It also provides a deferred monetary incentive dedicated to managers with high potential, with the objective of supporting motivation and performance in the medium-/long-term.
In addition, all Group companies have a “Performance-Related Pay” structure, established by the collective agreement, based on the performance of corporate profitability and productivity parameters, measured in relation to annual targets agreed by the company and union representatives.
In 2016, the use of the new target allocation and evaluation system was confirmed, Performance Management, which also contains targets on behavioural aspects and sustainability issues, including those relating to preventing accidents in the workplace. All the evaluation processes were formalised and involve dialogue and feedback which provides the opportunity for an exchange and communication between the manager and contractor and also to collect information that is useful for defining new measures for personnel development.
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2014 |
2015 |
2016 |
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Assigned |
Reached |
Assigned |
Reached |
Assigned |
Reached |
||
|
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Executives |
70 |
100 |
69 |
99 |
67 |
91 |
||
Managers |
371 |
100 |
295 |
99 |
313 |
93 |
||
Other personnel |
268 |
100 |
238 |
100 |
88* |
100 |
||
GRI-G4:LA11