With the VINCI Manifesto commitment “Share the benefits of our performance”, the Group aims to give its employees worldwide the opportunity to share in its success through employee share ownership plans and appropriate profit-sharing mechanisms. VINCI commits to ensuring that every employee is given an opportunity, wherever possible, to share in its economic success.
Given the Group’s highly decentralised organisation, employee share ownership has proved to be a valuable instrument in unifying employees around the VINCI brand. Castor achieves multiple goals. Apart from being a remuneration tool, it is a means of sharing the benefits of growth, while helping to attract and retain talent. It is also a vector of VINCI’s corporate culture worldwide, meeting with success both in France and internationally.
The importance that the Group attaches to employee share ownership is also reflected in the number and frequency of share offerings. More than 90% of employees worldwide are given the option of enrolling in the share ownership programme each year.
In addition to this employee share ownership programme, the Group offers other employee benefits, particularly in France, through incentive plans and profit-sharing agreements. At the end of 2022, 96.7% of employees in France benefited from incentive plans and/or profit-sharing agreements (96.5% in 2021). VINCI paid out higher amounts in France under profit-sharing and incentive plans than in the previous year (a total of €221 million in 2022, up from €141.9 million in 2021, as part of its policy to share the benefits of company growth). Thanks to these plans, a large majority of Group employees in France benefit directly from the performance of their local employer.
In France, the Group’s collective retirement savings plan, Percol-G Archimède, enhances the range of savings plans offered by VINCI. First established to allow employees to offset reduced income from mandatory pension plans, the plan was revised to take advantage of new provisions introduced with France’s new Pacte law (an action plan for business growth and transformation), which took effect on 1 January 2021. The plan enables employees to save for retirement under more attractive terms, with employer matching contributions. From 1 January 2022, these contributions were increased for workers and office employees, technicians and supervisors, equal to 200% for up to €200 and 100% for up to €400, resulting in a maximum employer contribution of €600 for €400 paid in. Employer contributions for managers remained unchanged from 2021, at 100% for a maximum of €400. Employer contributions to the Group’s collective retirement savings plan totalled €14.7 million in 2022 for France, up 65% from the €8.9 million contributed in 2021.
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-2022, Reverso covered more than 700 companies that requested to sign up to the plan, amounting to 46,652 employee subscribers. VINCI’s contribution to the plan totalled over €11 million in 2022.
VINCI launched a universal social protection framework in 2022. It will offer minimum guarantees to all employees under contract with a VINCI company, irrespective of their business line, employee category or country of operation, in two key areas of social protection: social insurance and parental benefits.
These minimum guarantees will be rolled out gradually and are due to be in place across the Group by December 2024. At companies where more favourable guarantees are already in place, the latter will be maintained.
