In 2013, VINCI established a defined contribution supplementary pension plan in France called Reverso for executives and other management-level personnel. Also amended to comply with the Pacte law, this plan complements Percol-G Archimède. Financed 50/50 by the employee and the company, it is available to all Group subsidiaries in France and combines the technical, financial, social and tax advantages of a company pension plan with those of an individual plan. At end-2021, Reverso covered more than 700 entities that requested to sign up to the plan, amounting to 30,900 employee subscribers. VINCI’s contribution to the plan totalled €10 million in 2021.
Group performance in terms of sharing the benefits of performance
The Group has always operated using a decentralised organisational and management approach, including with respect to social dialogue. One of VINCI’s priorities in its social dialogue approach is to develop close relations that are relevant and adapted to each business, giving labour representatives a real role to play at each business unit. In order to encourage dialogue that is sensitive to the realities of the economic and labour context in which each business line operates, labour representatives and the Group have opted for the implementation of employee representative bodies at business lines. This employee representation system is well suited to VINCI’s decentralised organisation, and is set out in the agreement to promote social dialogue within the Group. Three of these business line or division bodies had been set up by the end of 2021 (at VINCI Energies, VINCI Construction France and Eurovia France).
Although employers and employees build strong relations locally at VINCI subsidiaries, social dialogue also takes place at Group level through two bodies, the Group Works Council and the European Works Council.
Trade unions are provided with financial resources to fulfil the duties assigned to representatives from the business units. Financial assistance is also paid every year to the trade unions represented on the Group Works Council. This amount was €230,000 in 2021. In agreement with the officers of the Group Works Council, the budget allocated every year to the body’s experts was increased by 15% in 2021. This additional funding will, from 2022 onwards, go towards broadening their expertise on specific issues, such as those relating to corporate social responsibility (CSR).
The European Works Council has the unique role of information and dialogue with employee representatives at the European level. Its primary purpose is to improve the rights of workers to information and consultation. It is an essential element in the policy to promote social dialogue across all the Group’s European subsidiaries. To ensure that European Works Council members are properly informed and trained on CSR issues and to involve them in implementing CSR measures taken by the Group, a CSR commission was created in 2018. This commission meets several times a year. These meetings provide an opportunity to explore and debate issues relating to safety, the Group’s environmental ambition and its social responsibility. As an example, based on the discussions that took place, a set of environmental guidelines was signed on 6 November 2020 by Xavier Huillard, Chairman and Chief Executive Officer of VINCI, and Roberto Migliardi, Secretary of the European Works Council. Progress on actions taken is regularly monitored with elected representatives and the participation of the Group’s Environmental Director.
(*) European Economic Area and Switzerland, representing 70% of the Group’s workforce at 31 December 2021.
