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Compensation

We aim to attract, retain and motivate a highly qualified, diverse, global workforce capable of creating a competitive advantage and to reward those who reflect our standards of consistently ethical behavior in conducting sustainable business.

By upholding the standards of sustainability behaviors and Values which drive our Group mission, our total compensation approach represents a key enabler to enhance and protect our reputation and to create long-term value for all Group stakeholders.

Our total compensation approach

Provides for a balanced package of fixed and variable, monetary and non-monetary elements, each designed to impact in a specific manner the motivation and retention of employees, aiming to reflect internal equity and overall coherence of our remuneration systems.

Fixed compensation remunerates the role covered and the scope of responsibilities, reflecting the experience and skills required for each position, as well as the level of excellence demonstrated and the overall quality of the contribution to business results.

Variable incentives remunerate achievements by directly linking pay to performance outcomes in the short and long term, strengthening the alignment of shareholders' interest and the interests of management and employees.

A range of various benefits complete the offer to employees as part of a total compensation package.

 

Welfare benefits are supplementary to social security plans and are intended to provide substantial guarantees for the well-being of employees and family members during their active career as well as after retirement. 

In addition, special terms and conditions in terms of access to various banking products and other services may be offered to colleagues in order to support them during different stages of their lives.

 

Group Compensation Policy

The UniCredit compensation approach is performance-oriented, market-aware and aligned with business strategy and stakeholder interests.  To ensure the competitiveness and effectiveness of remuneration as well as transparency and internal equity, the principles of sustainable conduct and performance define the key pillars of our Group Compensation Policy..

 

The pillars of our Group Compensation Policy

 

  • Clear and transparent governance                                                          

    Efficient corporate and organizational governance structures are an essential prerequisite for the pursuit of our company's objectives. UniCredit has defined clear and rigorous governance and rules in order to establish coherence and transparency also with specific reference to compensation.

 

 

  • Compliance with regulatory requirements & principles of good business conduct

    Compliance with laws, rules and regulations and integrity in conduct and behaviors are essential elements of our way of doing business, which by its very nature is based on trust. By fully complying not just with the letter but also with the spirit of relevant legal and regulatory requirements, we protect and enhance our company reputation in the short and long term.

 

  • Continuous monitoring of market trends & practices                            

    We aim to adopt remuneration practices capable of guaranteeing distinctive and effective compensation solutions that best drive our overall business and people strategies. Our continuous monitoring of market trends and awareness of practices at international level contributes to sound formulation of competitive compensation as well as transparency and internal equity.

 

  • Sustainable pay for sustainable performance                                          

    Our Group's greatest strength is our commitment to our stakeholders, our core values and sustainability in everything we do. Our approach to establishing how much we pay and what results and behaviors we reward assures that all incentive systems contribute to the sustainability of the group by aligning individual goals and behaviors to our common long term mission.

 

  • Motivation and retention of employees, with particular focus on talents and mission-critical resources                                                       

    We aim to motivate and retain the best resources capable of achieving our company mission in adherence to our Group values. Effective compensation and benefits strategies are a key driver to positively reinforce employee commitment, engagement and alignment with organizational goals.

The Group Compensation Policy sets the principles for our compensation practices providing also information and disclosure on the implementation of compensation policy & programs, in line with national and international standards.

Group compensation policy documents

Description
File
governance_governance_compliance_1260x844

Governance & Compliance

governance_incentive_1260x844

Incentive systems

governance_director_compensation_1260x844

Directors & Auditors compensation

Updated on November 27, 2015.