Social dialogue and employee satisfaction **

Objectives

  • Provide a working environment that respects employee needs,
  • Develop a better balance between an employee’s professional and private lives,
  • Pursue social dialogue.

Highlights in 2010

  • Number of agreements signed in 2010: 283, including 79 in France,
  • Renewal of the agreement governing the employment of disabled staff from 2011 to 2013,

Collective agreements

In 2010, Societe Generale signed various collective agreements linked to remuneration, profit-sharing and share ownership, gender equality, the employment of disabled staff, working hours and employee benefits (healthcare and retirement schemes).
For Societe Generale in France, these agreements were linked to remuneration, employee benefits (healthcare scheme and employee cover), the renewal of the Group Committee (composition and operation), the employment of disabled staff and the election of some of the staff representative bodies and delegates.

Mandatory collective bargaining

  • Signing of a wage agreement that provides for:
    • a collective wage increase of 1% capped at € 500,
    • a budget of at least € 3 million devoted to narrowing any unwarranted gaps between wages for men and women for both 2011 and 2012.
Significant changes have also been made to the Group's company agreement signed in July 2000, notably as regards the revaluation of minimum thresholds when an employee is given a wage review or a change in rank, as well as the revaluation of certain guarantees which means they are better suited to particular retail banking careers.
Moreover, a work dividend of 100 euros per employee will be awarded at the same time as the group's profit-sharing for 2010 subject to the approval of the Board of Directors.

European Works Council

Re-elected in June 2010 for a term of two years, i.e. until June 2012, the European Works Council is a forum for information, dialogue and exchange on economic, financial and social issues that are either of strategic importance or have cross-border implications (that affect at least two countries within the European Economic Area). The 25 seats on the council are held by representatives from 19 different countries including France.The Council covers more than 142 Group companies in France (SGPM + French subsidiaries) and 176 companies in Europe (excluding France), namely approximately 99,620 employees in 27 countries.

Social climate surveys

Societe Generale will be launching its second global internal survey in April/May. Over 100,000 employees will be asked to take part in an anonymous online questionnaire carried out by a well-known outside service provider so as to better understand their needs and expectations and how they perceive the changes and developments made by the Group.
** in line with our Global Compact commitments