Co-worker report summary

Triodos Bank’s social policy is based on a belief that an organisation can only develop in a positive sense if its co-workers have the room and opportunity for professional and personal development. Key aspects of this vision are authenticity, cooperation, entrepreneurship and a professional, commercial attitude.

Achievements in 2011

Unlike much of the financial sector Triodos Bank continued to grow its co-worker group in 2011. In total Triodos Bank recruited 161 co-workers in their branches and business units. The total number of co-workers rose by 13%, from 636 to 720, in 2011.

Triodos Bank believes that a moderate remuneration policy, without bonuses, creates a healthy system which addresses the motivations and commitment of its co-workers. With this in mind Triodos Bank has established an international remuneration policy.

Co-workers

Co-workers’ connection with Triodos Bank’s mission, and the way its values are apparent in their daily work, is vitally important. This manifests itself in weekly, Monday morning meetings and a thorough introduction process for new co-workers.

Various training modules and courses are organised, with both an international and local focus, within the Triodos Academy. In 2011 a pilot for a visionary leadership program concluded successfully as did a new management development programme.

The ratio of women to men remained virtually unchanged during the year. In 2011, Triodos Bank employed 371 women (52%) and 349 men (48%). The share of women in management positions improved slightly to 37% (2010: 35%).

The rate of absence due to sickness rate increased to 2.2% in 2011 (2010: 1.9%). This was due to some cases of long term illness, especially in the Head Office. Triodos Bank aims to keep its illness rate below 3%. The attrition rate decreased to 8.8% (2010: 10.9%). This figure excludes co-workers on temporary contracts and retiring co-workers. In the UK the attrition rate reduced slightly to 14.9% (2010: 15.6%) but remains at a relatively high level.

In The Netherlands in 2011 the ratio between the highest salary and lowest salary was 9.8 (2010: 8.5). This ratio was lower in other countries due to the smaller size of the offices and because the Triodos Bank Executive Board is based at the head office in The Netherlands. The increase on last year is due to a new, lower scale position undertaken by a young co-worker. Lower level salaries are paid at just above market rates.

A co-worker council exists in The Netherlands, but is not a legal requirement in the Belgium, German, Spanish and UK offices currently. In Spain the work council’s term of office ended in December 2010, and no candidates have run for election. The branch leadership is evaluating the creation of a non official body to represent co-worker interests.

Prospects for 2012

Contrary to the general situation in the financial market Triodos Bank expects growth in new co-workers to continue at about the same level in 2012.

Triodos Bank aims to continue to keep its attrition rate at below 10% and the illness rate below 3%.

In 2012 Triodos will continue to expand its Academy to provide a programme for all levels of co-workers.

As a consequence of the financial crisis and widespread disquiet in society about the financial sector, regulatory bodies, especially in The Netherlands, are enforcing more laws and controls. Triodos Bank will strive to comply positively with them. It will do so appropriately given its moderate remuneration policy, which excludes bonuses.

Triodos Bank will continue to emphasise personal responsibility and use principle-based judgements, rather than depend on checklists and controls.