The compensation of blue-collar and white-collar workers is determined by the pay systems of collective agreements. The compensation of senior salaried employees is agreed individually and job evaluation is performed using the IPE system (International Position Evaluation).
Patria’s compensation models are reviewed against company’s anti -bribery and corruption policies and values. Performance appraisals are carried out annually and focus is on equal treatment of all personnel reinforcing to ethical behavior.
Successes and good performance are rewarded through the performance bonus and profit-sharing scheme, which applies to all Patria personnel. Financial targets (profit-based cash bonus targets) are set annually by Board of Directors and individual/team targets (performance bonus targets) between line manager and employee. High ethical standards are to be followed in all target setting and each line manager has the responsibility to ensure targets are specific, measurable, accurate, timebound and realistically achievable by the individual/team.
Most staff members can receive a maximum annual bonus and profit share equalling 15% of employee’s annual salary. The average realisation of the performance bonus and profit sharing has been roughly 50%.
Patria has a compensation fund pursuant to the Act on Personnel Funds in place, and approximately 20% of Patria personnel have invested their bonuses and profit shares in the fund since 2015.
In addition to monetary rewarding Patria offers possibilities for career development and growth via different training programs. Patria has also other means of non-monetary rewarding. Patria offers flextime to entire personnel and there are also remote working, part-time work, job rotation and study leave opportunities.
More information in Patria's Annual Reports as well as Government ownership steering