The LTG Group has a Remuneration Policy, which aims to ensure the organisation's competitiveness and compliance with modern market trends in remuneration through centralised and standardised processes and principles.
The aim is to structure the remuneration components in such a way that the company:
- attracts, motivates and retains highly qualified employees;
- encourages employees to improve;
- respects the principle of internal equity by rewarding the work and efforts of employees;
- continuously improves the working conditions of its employees in order to increase productivity;
- contributes to the efficient management of staff costs;
- motivates employees by providing them with a package of fringe benefits.
In order to achieve these objectives, the company has established a mapping of all active positions and a uniform remuneration review policy covering the following key elements:
- an evaluation of the position according to the internationally accepted job evaluation methodology;
- a comparison of internal remuneration data with market information;
- an assessment of the annual performance of employees, which includes all employees of the company.
These steps ensure transparency in decisions on remuneration and changes in remuneration, while at the same time establishing a remuneration system that is comprehensible to all employees and linked to the performance of each employee.
The main components of remuneration in the LTG Group are base salary, variable remuneration and fringe benefits.
The base salary depends on the value created by the position, which is determined according to an internationally accepted and widely used methodology. There are two main ways in which base salaries can be reviewed: once a year for annual performance or in the event of career changes.
Variable remuneration includes an annual incentive for the achievement of the company's performance targets and the employee's individual performance. It also includes a variable remuneration component, on a monthly basis or for a period shorter than one year, for the achievement of short-term objectives, which may be applied to employees directly related to the achievement of operational performance targets.
The remuneration of the Chief Executive Officer of the Company consists of a base salary as set out in the employment contract and a variable annual component, payable at the end of the year, consisting of an annual incentive linked to the achievement of the LTG Group's annual objectives as approved by the Board of Directors (90%) and to the achievement of the leadership of the team and of the achievement of the individual objectives (10%). Each year, the Board of Directors approves the structure, thresholds and weightings of the annual targets and, at the end of the year, approves the results of the achievement of these targets and the possibility of an annual incentive payment. The maximum annual incentive opportunity may not exceed 30% of the established annual base salary.
The company's remuneration principles are transparent and apply equally to all employees, regardless of their gender or certain aspects of their individual identity.
Data on the number of employees and average remuneration (AR) are publicly available and are broken down by function group. The estimated AR for men and women and a comparison of these figures are presented separately.
The company's remuneration policy guidelines are available here.
