All employees, regardless of position, are rewarded in terms of salary and bonuses in accordance with their responsibilities and performance. The Group’s main human resources directors meet on a monthly basis to share current best practices and draw up guidelines relating to remuneration, which can vary depending on the labour laws of each country and are different for the manager and non-manager categories. Gender and occupational pay gaps are analysed each year at Group level and at business lines to ensure equal pay for the same job and the same potential for development (see paragraph 1.5.2, “Measures to promote gender equality”, page 205).
Payroll expenses (excluding Cobra IS): 11,768 million in 2022, i.e. 20.9% of revenue (€11,037 million in 2021, i.e. 22.3% of revenue)
| Total | Managers | Non-managers | ||||
|---|---|---|---|---|---|---|
| (in € thousands) | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 |
| Average VINCI salary | 40 | 39 | 67 | 65 | 33 | 32 |
| Men | 41 | 39 | 71 | 68 | 34 | 32 |
| Women | 37 | 36 | 55 | 54 | 31 | 29 |
| Other | (**) | (**) | (**) | (**) | (**) | (**) |
| Employer social contributions | 30% | 31% | 36% | 37% | 27% | 28% |
(*) Data checked by the Statutory Auditors (excluding Cobra IS), see page 292 of the 2022 Universal Registration Document.
(**) Given the existence of individuals within the workforce whose gender identity or expression is neither female nor male, this information is not provided for reasons of confidentiality. However, the data on the line referring to the average VINCI salary is calculated in relation to the total number of employees, all genders combined.
Each year, VINCI sets up a long-term incentive plan, in the form of performance shares that vest after three years provided the beneficiary has remained with the Group. Nearly 10% of the Group’s managers benefit from these plans (for further details, see paragraph 5.2.1, “Existing performance share plans”, of chapter C, “Report on corporate governance”, page 165).
Developing employee share ownership is one of VINCI’s main commitments. For many years, the Group has led a proactive employee share ownership policy, providing two parallel plans: the Castor plan for employees in France and the Castor International plan for those abroad.
In France, VINCI has made three share offerings per year since 1995, with an advantageous employer contribution policy that enables employees to invest significantly, regardless of their income level.
The maximum annual employer contribution of €3,500 breaks down as follows:
A 5% discount is also applied to the average opening price of the VINCI share over the 20 trading days preceding the Board of Directors’ decision on the offering.
The total employer’s contribution for the Castor mutual fund was nearly €202.6 million for France in 2021, for a 77% subscription rate.
Initially implemented for employees of French subsidiaries, the employee share ownership policy has been rolled out gradually worldwide for employees of subsidiaries in which VINCI owns more than a 50% stake. Adjustments have been made to comply with regulations in each country concerned, while guaranteeing equal access to the plan, irrespective of the employee’s professional situation. The Castor International plan was introduced in 2012 and celebrated its 10th anniversary in 2022.
Employees’ subscriptions are matched with conditional awards of bonus shares granted as follows:
That means up to 80 bonus shares on top of the employee’s investment.
The total employer’s contribution for the Castor International mutual fund was €86 million in 2022 for a 26% subscription rate.
The Castor International plan has continuously grown in the 10 years since its inception. Starting with 14 countries in 2012, the plan covered 45 countries in 2022, adding four countries – Denmark, Ireland, Côte d’Ivoire and Senegal – since 2021. This now enables over 86% of Group employees outside France to become VINCI shareholders.
The proportion of employee shareholders is one of VINCI’s key non-financial performance indicators, as it helps increase employee retention and acts as a powerful incentive in attracting talent.
