Responsible human resources policy
With their unique skills and experience, GPW Group employees are an important group of the Group’s stakeholders. The organisational culture of the Group is based on engagement, values, and effective internal communication, as well as investment in continuous employee development.
In 2020, the Company continued initiatives focused on efficient management of HR, payroll, social, and bonus processes to address business needs and support the implementation of the Exchange’s strategy. GPW makes best efforts to harmonise the human resources policy across companies of the Group.
Remuneration rules GPW
The Employee Remuneration Rules define the conditions of remuneration in GPW job positions. The key objective of the remuneration policy is to ensure transparent and coherent remuneration rules for all GPW employees tied to the corporate strategy. As a key part of the remuneration policy, it ensures competitive pay and payroll in the company in relation to other organisations on the Warsaw financial market. The remuneration policy is a part of GPW’s incentive scheme.
The bonus system aims to create a motivating work environment which supports on-going improvement of employees’ competences and engagement in pursuit of their targets, and which fosters awareness raising and a sense of responsibility for work in all job positions. Improvement of competences implies that steps are taken which ensure that employees acquire knowledge, skills, and key competences and their motivation rises, leading to more effective performance of the employees.
Employee Satisfaction Surveys open space for employees to share their opinions concerning satisfaction with their job and the work conditions in GPW. The survey provides an essential understanding of the level of employees’ job satisfaction, expectations, and areas for improvement. It is crucial for the GPW Management Board to create the right work conditions and a friendly work environment which are fundamental to employees’ engagement and productivity, contributing to the strategic goals defined in the Exchange’s strategy.
Headcount of GPW and the GPW Group as at 31 December*
*excluding Members of the GPW Group Management Boards
Headcount of GPW by type of employment as at 31 December*
*excluding Members of the GPW Group Management Boards
**contracts (umowa zlecenia) with individuals who carry out no economic activities
Headcount of GPW by education as at 31 December*
Headcount of GPW by education as at 31 December*
*GPW’s headcount by education, as at 31 December
Headcount of GPW Group by education
GPW pursues a transparent recruitment policy
The GPW Group pursues a transparent recruitment policy. GPW’s recruitment policy focuses on recruiting top-class specialists for all areas of the Company’s operation. The development of human resources and employee competences includes rotation in job positions within GPW and the Group. The success and reputation of the GPW Group depend not only on the quality of provided services but also on the way that we work. Our principles and values ensure compliance of the GPW Group with laws and regulations as well as fair and ethical conduct.
GPW has defined clear rules for recruitment, laid down in the GPW Recruitment Policy.
Priority in recruitment is given to existing GPW Group employees as internal candidates because we support the development of our employees. GPW employees are additionally integrated into recruitment through a referral programme where candidates are nominated for vacancies.
GPW employee rotation as at 31 December
GPW hired 49 new persons (including employees dedicated to the implementation of GPW’s strategy) and terminated employment of 19 persons in 2020. By comparison, GPW hired 42 new persons and terminated employment of 20 persons in 2019. The GPW Group hired 76 new persons and terminated employment of 35 persons in 2020.
In the recruitment process, the GPW Group follows the diversity policy and combats all forms of discrimination, in particular on grounds of sex, age, disability, race, religion, nationality, political creed, union membership, ethnicity, denomination, sexual orientation, and employment for a determined or undetermined period, full-time or part-time.
Respects diversity
Diversity and openness are at the heart of GPW’s business operations and underpin the Exchange’s recruitment and employment policy. As a socially responsible employer, the Exchange follows the principles of equal treatment and non-discrimination. GPW’s diversity policy creates a work environment where everyone feels respected and appreciated, develops their talents and predispositions, and achieves their potential while contributing to the success of the entire Exchange. Guided by respect for a diverse and multicultural community, GPW attaches special importance to equal treatment and equal opportunities of employees in professional development and promotion regardless of gender, age, disability, health status, race, nationality, ethnicity, religion or lack of religious belief, political opinion, union membership, psychosexual orientation, gender identity, family status, lifestyle and any other circumstances which could give direct or indirect grounds for discrimination. These principles are governed by the GPW Diversity Policy approved by the Management Board on 21 January 2021.
The Exchange ensures that those principles are respected with regard to all employees irrespective of the form, scope and basis of employment or affiliation.
GPW employees by gender
Indicators reflecting the participation of women in management as at December 31 (percentage)
GPW employees by age as at 31 December*
*excluding Members of the GPW Group Management Boards
Indicators for the Exchange Supervisory Board established on June 26, 2021.
We care about employees’ development
To help employees improve their knowledge and competences, GPW provides employee training in expert knowledge, interpersonal skills, and personal development.
In 2020, in view of the SARS-CoV-2 pandemic, we organised online workshops for GPW employees on “Personal management in a crisis” and “Ergonomic remote work”. GPW employees nominated by Directors were granted access to the Coursera platform.
GPW employees pursued development opportunities through individual development tracks based on expert training. GPW employees improved their professional qualifications by participating in conferences, congresses, and seminars. Pursuant to its HR policy, the Exchange co-financed employees’ post-graduate and training programmes.
As a result, GPW employees jointly spent 1,097 days in training in 2020.
The average number of training days per GPW FTE was 4.2 days in 2020.
Average number of training days per FTE (excluding Members of the GPW Management Board)
* non-core business support positions, e.g., assistants
**experts, specialists, etc.
***middle management (managers)
****senior management (directors)
We offer an attractive incentive scheme and fringe benefits to employees
GPW’s HR policy is largely based on employee engagement; hence, the Company attaches special importance to employee incentives. The basic salary offered by GPW is tied to the employee’s potential, competences, and performance.
According to the Bonus Rules, the incentive scheme covers all GPW employees other than the Management Board. The objective is to incentivise employees’ superior performance based on individual and group targets. The system includes annual appraisal of employees’ key competences. The appraisal identifies the employee’s strengths and areas for improvement. The process helps to identify the employees’ potential as a basis for internal recruitment and succession, training programmes matching the Company’s needs, and the measurement of success of GPW’s employee development initiatives.
Every GPW employee has wide access to fringe benefits including: health care, life insurance, reimbursement of commuting costs, the Employee Pension Scheme, a canteen system, loans including housing and medical loans, as well as payments from the Company Social Benefits Fund.
We respect the freedom of association
The Exchange Employee Trade Union was established under a resolution of the Founding Assembly of 6 October 2005. The Exchange Employee Trade Union (“Union”) operates under the provisions of the Act of 23 May 1991 on Trade Unions and in accordance with its Articles of Association. The Union is also subject to other legislation including the Act of 26 June 1974 – Labour Code, the Act of 23 May 1991 on Labour Dispute Resolution, the Act of 13 March 2003 on Special Principles of Terminating Employment for Reasons Independent of Employees, and the Act of 4 March 1994 on Company Social Benefit Funds. The Union is also subject to GPW’s internal regulations concerning the protection of employees’ rights and interests.
According to legislation, to the extent of collective rights and interests, the Union represents the rights of all Exchange employees. To the extent of individual rights and interests, the Union represents its members in relations with the employer under the Union Articles of Association. The mission of the Union is to protect employees’ rights and interests and to contribute to the creation of good conditions of work, pay, and rest for Exchange employees.
We offer traineeships and internsips
The Warsaw Stock Exchange puts a strong emphasis on capital market education and learning of young people.
For many years, the Exchange has offered traineeship opportunities to university students. The students major in different disciplines including Economics, Finance, and Marketing. GPW runs Go4Poland, a programme addressed to Polish students of foreign universities. Under the programme, two students were accepted for one-month paid internships where they could discover the specificity of work at GPW and acquire new competences hands-on. We also accepted two interns and one trainee for one month each in 2020.
We support charity initiatives and employee volunteering
In 2020, the GPW Group bought Christmas cards from Zakład Aktywności Zawodowej Pracownia Rzeczy Różnych SYNAPSIS, a social enterprise which combines business activity with a social mission dedicated to adults living with autism.
GPW donated funds towards the fight with the COVID-19 pandemic in 2020.
In March 2020, GPW made a donation of PLN 1 million for the acquisition of SARS-CoV-2 testing equipment by the District Sanitary Stations in Siedlce and Radom. The labs which use the equipment are operational since early May.
By the end of 2020, GPW distributed its donation from the Exchange’s profit from trading in Allegro shares on the first day of trading (12 October 2020). The donation went to 13 medical centres across Poland including the University Clinical Centre of the Medical University, the Ujastek Medical Centre in Kraków, the Children’s Memorial Health Institute in Warsaw, SP ZOZ Słupca, the Regional Hospital in Poznań, and SP ZOZ Siedlce. The donation amounting to PLN 680 thousand paid for nearly 3 thousand barrier tents and several photocatalytic air purifiers.
We procect occupational health and safety
GPW’s priorities include a healthy, safe, and friendly work environment which supports the development of the professional potential of all Exchange employees. Under its occupational health and safety policy, the Company works to prevent accidents at work, occupational diseases and potential incidents, to continuously improve occupational health and safety, ergonomics and fire protection, to improve employee qualifications, and to integrate their role and engagement in occupational health and safety initiatives. GPW’s occupational health and safety policy was integrated into the subsidiaries TGE and BondSpot in 2015.
Occupational health and safety training introduces employees to the principles of safe and ergonomic work and the applicable evacuation procedures.
We support employees during the SARS-COV-2 pandemic
Faced with the pandemic, our top priorities included the safety and health of employees. To protect physical and mental safety of GPW Group employees, we put in place procedures mitigating the risk of infection and spread of SARS-CoV-2. We developed and implemented an operating model based on work from home. Thanks to scaled IT infrastructure and state-of-the-art technology, our employees smoothly migrated to remote work. At this time, a vast majority of staff (approx. 90 percent) work remotely while some employees alternate in the office subject to strict health and safety measures.
To facilitate employees’ work under the new conditions, the GPW Management Board and the Management Boards of the subsidiaries provided support including co-financing of the home office as well as hybrid work pay supplements. Early on in the pandemic, GPW employees were offered psychological support and training in ergonomic remote work. To integrate the GPW Group under the demanding conditions, we held an online integration meeting. To address the expectations of GPW employees, the Company’s Management Board decided to add new services to the health care package and raised the amount of holiday grants for all employees.
In mid-2020, GPW Group employees were offered free-of-charge IgG and IgM tests for SARS-CoV-2 in the national laboratory network of ALAB Laboratoria. In the case of reasonable suspicion that employees may have had contacts with other employees or clients who test positive for COVID-19, GPW Group employees were PCR tested. GPW provided flu vaccinations for all interested employees in the autumn 2020.