Remuneration System
The remuneration system for Metalloinvest employees includes financial and non-financial motivation tools and is thus a sufficient and comprehensive incentive to ensure they are engaged and work productively.
Salary
The salary received by employees of Metalloinvest enterprises ensures a decent level of prosperity and compliance with the quality of life standards that have been established in the respective regions.
Salaries are designated within the range established for each position, are higher than the market median, and are indexed annually taking into account inflation. The Company is committed to the principle of non-discrimination and does not take into account gender, age, or ethnic factors when determining the size of salaries, but relies solely on skills, abilities, education, and experience when hiring new personnel and on career achievements when promoting employees. Salary hikes within the aforementioned range depends on the individual performance of the employee, which serves as an additional incentive to increase productivity and conscientiously perform their duties.
202-1
The average monthly wage increased by an average of 6% during the reporting period and amounted to RUB 45,700. The average salary of a Metalloinvest employee is 48% higher than the average salary in the regions where the Company operates.
Performance Evaluation and Feedback System
404-3
The Company has introduced an employee performance evaluation system that makes it possible to monitor labour productivity. The Management Company’s senior executives and key management representatives at the plants receive feedback on their work results at least once a year. The feedback system encompassed 100% of managers included within the performance management system (about 500 people) during the reporting period.
