Annual Report 2012

Human resources

Finnish Industry Investment's human resource management aims at developing a committed and skilled investment organisation with a high level of job satisfaction. This will be reflected in the high quality of services available to portfolio companies, co-investors and other stakeholders.

At the end of 2012, FII had 28 permanent employees and one employee on a fixed-term contract. The number of personnel has grown by four since 2011. Personnel turnover in 2011 was 5.2%. The average length of employment was 5.6 years. Of the personnel, 72% have a higher academic degree and of those, almost 90% have academic education in a financial or technical field.

Number of personnel
2012 2011 2010 2009
Men 17 14 12 11
Women 12 12 12 12
Total 29 26 24 23

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.

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. Personnel expertise is enhanced with, for instance, corporate governance courses, specialist courses in venture capital & private equity, and IT courses.

A personal development discussion (PDP) arranged each year functions as an information exchange between an employee and his/her supervisor. The aim of the process is to motivate personnel and improve the work community. The PDP process is an element of the management system, and it aims at implementing and guiding the company's strategic objectives at a unit's and individual's level. All personnel are included in the personal development discussion scheme. A PDP reviews the skills and development needs of each employee, and the skills his/her duties require, based on which a training plan is formulated. If necessary, additional discussions are held during the year.

Altogether 16 of FII's employees attended a variety of training events, totalling 56 training days, in 2012.

Remuneration

Remuneration consists of a monthly salary plus a bonus under an incentive scheme decided annually by the Board of Directors. All personnel are included in the incentive scheme. The incentive scheme consists of economic impact and economic performance objectives, which are set each year in advance.

In 2012 the maximum bonus amounted corresponding to 1-4 month's salary. The remuneration system does not include share options or share-based incentives nor does it include any supplementary pension arrangements. Bonuses paid to personnel in 2012 amounted to €363,000.

The company will apply a new remuneration system as from the start of 2013, in line with the Finnish government's statement on management remuneration in state-owned companies (issued on 13 August 2012).

Wellbeing and job satisfaction

Wellbeing at work is promoted in a number of ways and by activating the entire personnel. Personal development discussions are held annually, and the job satisfaction survey is conducted at regular intervals. Flexible personnel policy takes employees’ differing life situations into account. Wellbeing at work is also promoted with events arranged each year.

Job satisfaction survey

Job satisfaction survey was introduced in 2009, in response to the growing number of personnel. The survey aims to chart the company's strengths, identify aspects that could be improved and utilise the results in developing operations.

FII conducted the survey in 2012. The results show that the satisfaction level of personnel is on a good level compared to peer companies and has risen compared to the last survey in 2010.

Occupational health service

All FII's personnel are covered by an occupational health service. An occupational health service action plan for 2010-2013 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. There were no accidents at FII in 2012. Absence rate due to sickness in 2012 was approximately 2%, well below the average for the financial services sector in Finland. Source: Confederation of Finnish Industries EK, Työaikakatsaus 2011 (in Finnish). 

Equal opportunities

FII has started drafting an equal opportunities plan. The project will be steered by an equal opportunities group, comprising representatives from all personnel groups. The plan should be completed during the first half of 2013.

Age structure of personnel

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