Remuneration, performance and training policy
At EPSO-G group we are building an open, advanced organisation operating in accordance with sustainable development objectives, maintaining professional partnership relationships between the employer and employees, where everyone has the opportunity for self-development, grows in line with the organisation, and is able to take responsibility for their own decisions and actions.
The main objectives of the EPSO-G group’s Remuneration, Performance Assessment and Training Policy:
- Establish clear and transparent principles for the remuneration of the Group’s employees and the employee remuneration system based on the mentioned principles, by implementing which the remuneration costs would be managed effectively and motivational incentives for employees to achieve the objectives of the organisation would be ensured.
- Establish clear and transparent principles for common consensus of the Group’s employees and performance assessment, so that the employees would be aware and meet the expectations held by the organisation and what actions they need to take for their development.
- Establish clear and transparent principles and guidelines for the training, updating training and personal development of the Group’s employees in order to maintain a motivating, professional growth-enhancing work environment and an organisational culture of high standards.
Key principles of the Remuneration, Performance Assessment and Training Policy for EPSO-G Group’s employees:
- The remuneration of the Group’s employees consists of a fixed remuneration part, variable remuneration part, bonuses established in the Labour Code of the Republic of Lithuania, the internal regulations of the companies and collective agreements, additional incentives for extraordinary results and implementation of innovation, additional benefits, and non-financial (emotional) remuneration.
- The remuneration system is based on the Group’s structure of positions, which consists of positions divided by levels.
- For the level of positions assessment and establishment procedure, the Group chooses a method that is recognised internationally and widely used in the Lithuanian market. Position assessment procedure ensures organisational justice and consistency for the whole Group.
- The policy is drawn up in cooperation with the representatives of the Group’s employees and is approved and amended by decisions of the EPSO-G’s Management Board.
- Variable remuneration part is paid for employees’ performance results, i.e., for achievements of specific and measurable objectives or indicators set for a particular position or employee.
- The employees’ performance assessment procedure consists of agreeing on targets/indicators of an employee with the manager and the assessment of achievements thereof, the assessment of competencies, planning of training steps and assessment of training outcomes.
- Employees’ objectives and indicators are settled in close cooperation with the strategic objectives of the EPSO-G Group as a whole and an individual company so that all employees’ actions are focused on achieving the strategic objectives.
- Assessment of competencies is based on competency models used in companies, which consist of competencies and the behaviours that characterise them.
- Employees’ training activities are planned in line with the EPSO-G Group’s and an individual company’s strategy, values, performance assessment, competency model, shiftwork planning, and assessment of professional and technical qualifications.
- Employees’ training is based on the 70-20-10 model, whereby 70 pct. of training, development, and learning activities are performed on the basis of an employee’s work experience, 20 pct. relies on interaction and collaboration with colleagues and managers with diverse experience and competencies, and 10 pct. relies on structured training events.