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Co-worker report

11.7%

The total number of
co-workers increased
by 11.7% from 911 to
1,017 in 2014.

Triodos Bank aims to be an extraordinary place to work, enabling co-workers to fulfil their professional potential, developing and applying their expertise and professional insight to the full.

The year at a glance

Triodos Bank is a developing organisation. Its steady growth has created a medium-sized bank requiring an evolving approach to fulfil the potential of the people who work in it. In 2014, 199 new co-workers were employed (2013: 189), passing a milestone of 1,000 co-workers during the year. The total number of co-workers at Triodos Bank increased by 11.7% in 2014, from 911 to 1,017.

The balance of men and women, which has been a particular point of attention in previous years, the age of the co-worker group, and levels of sickness are at reasonable levels in the view of the management. In 2014 Triodos Bank employed 541 women (53.2%) and 476 men (46.8%). The share of women in management positions remains at 40%. The average age remains at 39.6 years, as does the average period of service, which was 4.8 years at the end of 2014 (2013: 4.7 years). Absenteeism through sickness remains at 2.6% in 2014 below a target of 3%.

The attrition rate increased to 9.5% in 2014 (2013: 7.2%). The attrition rate for co-workers in their first year of employment increased from 7.4% in 2013 to 11.6% in 2014, despite efforts to reduce it through thorough recruitment processes which aimed to provide greater clarity around expectations and an improved induction process. This was in part due to a healthier labour market, especially in Spain and the UK.

Triodos Bank depends on skilled and motivated people who are able to integrate the bank’s mission in their everyday work from lending to sustainable enterprises, to servicing clients without the use of scripts but connecting instead on a more human level. The organisation invests in high quality training and development programmes that focus on the specific questions and training needs of its co-workers. In addition to external experts, the Triodos Academy offers development programmes based on Triodos Bank’s values. 118 (2013: 82) co-workers participated in the Academy’s different programmes in 2014.

The 2014 annual Co-Worker Conference took place in Brussels with a theme of “Living Unity & Diversity”, and was attended by 120 co-workers.

Attention was paid to improvements in internal governance during the year. There was concern that this development to improve formal processes could have an impact on the working culture of the bank, so care was taken to ensure that these changes supported and strengthened the collaborative culture.

Triodos Bank believes people should be appropriately paid for their work. As such it carefully monitors differences in remuneration within the organisation and between Triodos Bank and the financial and banking sector. In The Netherlands (amounting to 48% of the co-worker group, consisting of the Dutch branch, Head Office, Private Banking and Investment Management) the ratio between the lowest and highest paid in 2014 was 9.6 (2013: 9.4). From 2014 Triodos Bank will report its remuneration information according to the G4 guidelines of the Global Reporting Initiative. This includes the ratio of the highest salary to the median salary and the ratio of the increase of the highest salary to the median increase.

Triodos Bank believes that a fair remuneration, without bonuses based on agreed targets, creates a healthy, simple remuneration system. According to article 25 of the Regulation on Sound Remuneration Triodos Bank needs to report its remuneration practice for ’identified staff’.  A summary of the International Remuneration Policy can be found on our website.

For the years 2011 to 2014 the data below are part of KPMG’s assurance.

[ Social key figures* ]

Download XLS

 

2014

2013

2012

2011

2010

2009

2008

*

The co-worker report includes everyone employed by Triodos Bank. Co-workers of the joint venture Triodos MeesPierson are not included.

**

Fte stands for full-time equivalents and is the number of co-workers calculated on a full-time basis per week. (For The Netherlands this is 40 hours, Belgium 37 hours, United Kingdom 37.5 hours, Spain 37 hours, Germany 40 hours and for France 35 hours).

 

 

 

 

 

 

 

 

Number of co-workers at year-end

1,017

911

788

720

636

577

477

Average number of ftes** during the year

883

785

694

636

556

482

402

Number of ftes** at year-end

931

838

722

660

577

525

429

Absenteeism

2.6%

2.6%

3.0%

2.2%

1.9%

2.6%

2.4%

 

 

 

 

 

 

 

 

[ Training expenses per co-worker ]

Download XLS

Amounts in EUR

2014

2013

2012

2011

 

 

 

 

 

The Netherlands

1,976

1,803

1,650

1,943

Belgium

1,549

1,918

2,015

2,190

United Kingdom

983

934

694

1,607

Spain

1,181

1,281

1,080

976

Germany

2,377

2,332

1,765

1,658

France

1,735

3,186

419

Private Banking NL

4,135

4,448

2,383

3,029

Head office

2,695

2,914

2,205

3,142

TIAS

0

Triodos Investment Management

2,669

3,517

2,821

2,202

 

 

 

 

 

 

 

 

 

 

Average

1,856

2,055

1,731

2,020

Increase

–9.7%

18.7%

–14.3%

6.5%

 

 

 

 

 

[ Training days per co-worker ]

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2014

2013

2011

2011

 

 

 

 

 

The Netherlands

3.5

2.7

2.2

2.8

Belgium

3.5

2.8

6.0

6.1

United Kingdom

3.3

1.9

1.5

1.7

Spain

7.1

7.1

10.5

4.2

Germany

3.1

2.9

2.4

3.2

France

5.3

9.0

Private Banking NL

5.4

5.4

2.9

3.9

Head office

2.9

2.2

2.8

2.6

TIAS

0.0

Triodos Investment Management

3.3

2.8

2.8

2.4

 

 

 

 

 

 

 

 

 

 

Total

4.3

3.7

4.5

3.3

 

 

 

 

 

[ Fixed and variable remuneration awarded to Identified Staff in relation to performance year 2014, split by instrument ]

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Amounts in thousands of EUR

"Identified staff" in senior management positions

All other "Identified staff"

*

due to privacy reasons these amounts are not published

 

 

 

Number of co-workers

11

41

 

 

 

 

 

 

Remuneration

 

 

Total fix remuneration

2,080

4,432

Total variable remuneration

13

72

of which in cash

13

72

of which in shares

of which in other instruments

Total amount deferred remuneration

 

 

 

 

 

 

Welcome payments

 

 

Number of beneficiaries

0

0

Total amount

 

 

 

 

 

 

Severance payments

 

 

Number of beneficiaries

1

1

Total amount

*

*

Maximum amount

*

*

 

 

 

There are no co-workers who earned more than EUR 1 million. There is no outstanding deferred remuneration (vested and unvested).

[ Salaries ]

Download XLS

Country

Ratio of highest fulltime salary 2014 to median fulltime salary 2014*

Ratio of salary increase highest salary to median salary increase*

*

median salary (increase) is calculated excluding maximum fulltime salary (increase)

 

 

 

NL

4.6

1.0

BE

2.9

1.4

UK

4.0

0.7

ES

6.1

0.6

DE

2.6

1.3

Total

5.6

1.0

 

 

 

[ Age categories of co-workers of Triodos Bank at year end ]

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2014

 

2013

 

2012

 

2011

 

Age

number

%

number

%

number

%

number

%

 

 

 

 

 

 

 

 

 

< 28 years

86

8%

72

8%

62

8%

69

10%

28 – 35 years

262

26%

252

28%

229

28%

209

29%

35 – 42 years

285

28%

252

28%

211

28%

182

25%

42 – 49 years

219

22%

186

20%

159

20%

143

20%

49 – 56 years

105

10%

90

10%

71

9%

69

10%

>= 56 years

60

6%

59

6%

56

7%

48

7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

1,017

100%

911

100%

788

100%

720

100%

Average

39.7

 

39.6

 

39.5

 

39.2

 

 

 

 

 

 

 

 

 

 

[ Years of service of co-workers of Triodos Bank at year end ]

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2014

 

2013

 

2012

 

2011

 

Years of service

number

%

number

%

number

%

number

%

 

 

 

 

 

 

 

 

 

0 – 1 years

186

18%

175

19%

131

17%

142

20%

1 – 3 years

269

26%

240

26%

224

28%

219

30%

3 – 5 years

186

18%

185

20%

174

22%

158

22%

5 – 10 years

272

27%

210

23%

168

21%

118

16%

10 – 15 years

67

7%

68

7%

66

8%

60

8%

> 15 years

37

4%

33

4%

25

3%

23

3%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

1,017

100%

911

100%

788

100%

720

100%

Average

4.8

 

4.7

 

4.6

 

4.3

 

 

 

 

 

 

 

 

 

 

[ Sickness rate ]

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2014

2013

2012

2011

 

 

 

 

 

The Netherlands

3.3%

3.3%

2.9%

2.5%

Belgium

2.8%

3.6%

3.4%

1.9%

United Kingdom

0.6%

1.4%

0.9%

0.8%

Spain

2.3%

1.9%

2.7%

1.7%

Germany

2.1%

1.6%

4.7%

3.1%

France

0.0%

0.0%

Private Banking NL

6.9%

4.1%

4.2%

0.7%

Head office

4.1%

3.1%

3.2%

3.9%

TIAS

1.8%

Triodos Investment Management

3.8%

2.5%

3.9%

1.5%

 

 

 

 

 

 

 

 

 

 

Total

2.6%

2.6%

3.0%

2.2%

 

 

 

 

 

[ Attrition in first year ]

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2014

2013

2012

2011

 

 

 

 

 

The Netherlands

6.3%

13.6%

0.0%

14.3%

Belgium

0.0%

4.5%

30.0%

16.7%

United Kingdom

21.4%

5.0%

12.5%

3.6%

Spain

19.5%

9.3%

10.9%

4.7%

Germany

11.1%

8.3%

22.2%

0.0%

France

0.0%

0.0%

Private Banking NL

0.0%

0.0%

0.0%

0.0%

Head office

9.5%

0.0%

13.0%

23.8%

TIAS

0.0%

Triodos Investment Management

6.9%

7.7%

10.0%

12.5%

 

 

 

 

 

 

 

 

 

 

Total

11.6%

7.4%

11.8%

10.6%

 

 

 

 

 

Prospects

Triodos Bank will continue to strengthen the organisation in 2015 and beyond. The following priorities have been set in this context:

  • Special attention will be paid to new senior co-workers at Head Office, especially in the area of the growing Risk Management department, with a focus on increasing familiarity with our culture and mission.
  • Study meetings will be organised to create a more in-depth understanding of Triodos Bank and its values, and to support new co-workers to reflect on societal issues and their relevance for Triodos Bank.
  • Exchanges from the branches and the recruitment of international candidates will be encouraged to underline the international character of the Head Office.
  • We aim to reduce the high turnover in a co-worker’s first year of employment by improving the recruitment process.
  • Co-workers will be encouraged to actively engage in a learning organisation (see the strategic objectives table).