ENGIE has set up several different compensation tools for its employees: employee shareholding, savings plans and retirement savings plans.
ENGIE applies a proactive employee shareholding policy with a view to involving all employees in the Group’s collective success. Since the first share allocation plan in 2007, employees have received a total of nearly 21 million shares. At the end of 2012, employees held 2.26% of the share capital, including 1.81% held through employer-sponsored mutual funds.
International Free Share Allocation Plans
The Group was among the first companies to launch international Free Share Allocation Plans, open to all of its employees. The purpose of these plans is to:
- share financial results and growth with employees,
- involve employees firmly and directly in the Group’s development,
- increase employees’ sense of belonging.
These plans are equal for all employees: the same number of free shares is allocated to every employee, regardless of country, compensation, role or place in company hierarchy. In 2012, the fifth free share allocation plan covered around 6 million ENGIE shares, or 0.25% of the company’s share capital.
The plans do not replace any part of the Group’s other compensation systems, but serve as a supplement to existing compensation and incentive plans, as well as other compensation tools like employee savings plans.
Group employee savings plan policy
Employee savings plans
ENGIE employees in France have access to a Group Savings Plan (PEG), which includes the employee shareholding funds, as well as access to a large range of diversified savings products.
Outside France, measures are in place enabling employees to save in ways adapted to local laws.
Retirement savings plans
In France, all Group employees can, at their own pace, build up retirement savings by contributing to the ENGIE Group Collective Retirement Plan (PERCO).
Outside France, products exist that enable employees to supplement their pensions by making voluntary optional contributions on favorable terms.
Socially Responsible Mutual Fund
One in four people in Europe currently faces energy poverty. To respond to this problem, ENGIE has developed the Rassembleurs d’Energies (“Energy Gatherers”) initiative: an innovative system to provide technical and financial support in the field of access to energy. The mission and global scale of the project have made it the first Socially Responsible Mutual Fund in the energy sector.
As of December 31, 2012, the fund included 4,182 shareholders (employees and former employees), with 1,600 employee volunteers having taken part in projects with three of the ENGIE Group’s NGOs: Aquassistance, Energy Assistance and Codegaz.