Finnish Industry Investment's human resource management aims at developing a committed and skilled investment organisation with a high level of job satisfaction.
FII's personnel at the end of 2014:
- 31 permanent employees and one employee on a fixed-term contract
- 13 women, 9 men
- number of personnel has grown by two since 2013
- personnel turnover 3,2 %
- average length of employment 6,9 years
- 78 % of the personnel have a higher academic degree
- 88 % of the personnel have academic education in a financial or technical field.
Training and development
FII plans its human resource management in line with the company's existing strategies, action plans and budget. The President & CEO and team leaders are responsible, both in the teams and together as a Management Team, for human resources planning. The company's HR administration also participates in promoting a proactive personnel policy over the longer term.
All personnel are included in a personal development discussion scheme. Held every year with the aim of motivating personnel and improving the work community, personal development discussions are a channel for information exchange between employees and their superiors. A discussion reviews the skills and development needs of each employee, and the skills his/her duties require, based on which a training plan is formulated. The process is an element of the management system, and it aims at tangibly implementing and guiding the company's strategic objectives at a unit's and individual's level.
FII is an expert organisation that encourages its personnel to engage in continuous training and development of their professional skills. Skills development is coordinated at the team level, and the company’s annual action plan specifies key areas for training and development.
Altogether seven of FII's employees attended all-day training events, totalling 40 training days, in 2014. The personnel has also had an opportunity to take part in a variety of shorter trainings and seminars.
In matters of remuneration, the company applies the principles embodied in the opinion on management remuneration in state-owned companies (Cabinet Committee on Economic Policy, 13 August 2012). The remuneration system applies to all persons permanently employed by the company.
Remuneration consists of basic pay plus an annual bonus:
- Basic pay is the total pay including monetary salary and any fringe benefits. A job-specific salary is based on how demanding the job is and on work performance.
- Annual bonus is determined on the basis of how well the remuneration targets set for the year are achieved. Remuneration is based on measurable and sufficiently demanding criteria specified in advance. The Board of Directors sets the targets and retroactively assesses achievement levels. The targets promote ownership value and encourage achievement of special tasks.
An international assessment conducted in 2014 by the Ministry of Employment and the Economy shows that Finnish Industry Investment’s cost structure and remuneration are at moderate levels compared to peer organisations. Bonuses paid to personnel in 2014 amounted to €270,000. The maximum bonus amounts to 8-30% of month's salary.
FII's guiding principle for equal opportunity activities is fair and equal treatment for all employees. The company’s equal opportunities plan was drafted in 2013. The project was steered by an equal opportunities group, comprising representatives from all personnel groups. The composition of the equal opportunities group for the following year is decided separately in conjunction with preparing the company’s annual Action Plan, at which time implementation of the equal opportunities plan is also reviewed.
Equal opportunities in the workplace is reviewed through, inter alia, a job satisfaction survey and an equal opportunities questionnaire.
Wellbeing and job satisfaction
The company holds annual personal development discussions and conducts regular personnel surveys. A survey of personnel’s work satisfaction has been conducted at 1- or 2-year intervals since 2009. Supplementary surveys – for example, regarding the working atmosphere – are also conducted according to need. Work satisfaction surveys review the company’s strengths and opportunities, and the results are utilised in developing the company’s operations.
The work satisfaction survey in 2014 produced a very good overall result, with wellbeing at work and personnel expertise both being rated highly. Other strengths were deemed to be gender equality as well as the implementation of responsibility.
A working group, representing the organisation’s various functions, was established to focus on developing and renewing the company’s operations. The working group’s goal was to develop a more personnel-oriented approach.
Wellbeing at work is promoted with events arranged each year, and the company’s flexible personnel policy takes employees’ differing life situations into account.
Occupational health service
All FII's personnel are covered by an occupational health service. An occupational health service action plan for 2014-2016 has been prepared with a occupational health service provider. The occupational health service includes preventive health care in the form of ergonomic studies and medical examinations. In 2014 there was one accident relating to work-related travel. Absence rate due to sickness in 2014 was approximately 1.6%, below the average for the financial services sector in Finland. Source: Confederation of Finnish Industries EK, Työaikakatsaus 2012 (in Finnish).