In France, through employee share ownership, profit-sharing, incentive and retirement savings plans,
€490m to its employees in 2023
Remuneration
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 regular 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 equivalent performance (see paragraph 1.5.2, “Measures to promote gender equality”, pages 207 to 208).
Group performance in terms of remuneration
Payroll expenses: €14,269 million in 2023, i.e. 20.7% of revenue (€11,768 million in 2022, i.e. 20.9% of revenue(*))
(*) Data for 2022 does not include Cobra IS.
| non-inclus | Total | Group (excl. Cobra IS) | Managers | Managers (excl. Cobra IS) | Non managers | Non managers (excl. Cobra IS) |
|---|---|---|---|---|---|---|
| (in € thousands) | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
| Average VINCI salary | 39 | 40 | 67 | 67 | 33 | 33 |
| Men | 40 | 41 | 71 | 71 | 33 | 24 |
| Women | 37 | 37 | 54 | 55 | 30 | 31 |
| Other | (**) | (**) | (**) | (**) | (**) | (**) |
| Employer social contributions | 30% | 30% | 35% | 36% | 27% | 27% |
(*) Data checked by the Statutory Auditors, see details on page 302 of this 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.
Long-term incentive plans
Each year, VINCI sets up a longterm 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”, pages 167 to 168).
Employee share ownership
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. Nearly 82% of the Group’s workforce in France is enrolled in the Castor employee share ownership programme. The total employer’s contribution paid into the Castor mutual fund was nearly €222.3 million for France in 2023.
Initially implemented for employees of French subsidiaries, the employee share ownership policy has been rolled out gradually worldwide since 2012 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. 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 €110.8 million in 2023 for a 23% subscription rate. The Castor International plan has grown continuously since its inception. Starting with 14 countries in 2012, the plan covered 46 countries in 2023, adding one country – Serbia – since 2022. This now enables over 79% of Group employees outside France to become VINCI shareholders. The proportion of employees participating in these programmes to share the benefits of performance is proof of their engagement with the Group, acting as a powerful incentive in attracting talent and a key indicator of VINCI’s non-financial performance.
