Hours worked, salary and pension funds

Hours worked in Acea

The total number of ordinary and overtime hours worked during the year, excluding executives, was 7,743,334, of which 77.9% was attributable to male personnel; overall, this figure can be explained by the number of men in the workforce (75.7%) and the greater allocation of roles with responsibility (69.5% of executives are men). Analysing the overtime hours in detail, the influence of gender is even more evident: 93% of overtime is in fact attributable to men and only 7% to women (see also the sub-paragraph Remuneration). Days of absence totalled 89,167, a 1.4% increase compared to the preceding year (87,970 days), determined, for the most part, by absences due to illness, leave (for reasons of study, health etc.), maternity/paternity leave and trade union reasons (see Chart no. 36 and Table no. 39).

Chart no. 36 – Hours worked by the staff and absences (2018)

The employees can take various types of leave and forms of flexibility such as, for example, part-time, which in 2018 involved 2.5% of the staff, and the independent schedule for managers and the stage three workers, which permits a “customised” management of the work schedules, in compliance with the work duties anticipated by the contract. For employees who do not use the independent schedule, arrival and departure flexibility is anticipated, and, lastly, they are the workmen have a total number of monthly hours of leave available to collect during the times established.

Renumeration

The wages of employees are determined by applying the National Collective Bargaining Agreements of reference, excluding the executives and top management. The remuneration policy adopted by Acea applies merit-based principles to the operations on the fixed and variable components.
In 2018 the total gross average salary per capital increased 1.6% and comes to 44.3 thousand Euros (it was 43.6 thousand Euros in 2017); by including the executives as well, it comes to 46.6 thousand Euros (it was 45.8 thousand Euros in 2017) (see Table no. 39).

Chart no. 37 – Average salaries and the ratio of basic salary to renumeration (2018)

Looking at the data from the point of view of gender, it can be noted that the relationship between the “base salary” and the gross actual remuneration – including the “additional” elements which contribute to determining the total amount of the salary – in 2018 comes to 88% for female staff and 80% for male staff, in line with 2017 data. The activities remunerated with a greater additional compensation, such as on-call, shifts, allowances, overtime, are in fact mainly held by male staff (for example the work performed by the emergency services technicians who rotate in 24 hour shifts).

Pension funds and defined contribution plans

The principal supplemental pension funds for the employees of the Group are: Previndai, reserved for management, and Pegaso for non-management staff, to whom the CCNLs apply signed by Utilitalia for the companies of public utility of the electrical and gas-water segment.

The Pegaso fund is managed equally by Utilitalia – the Federation that unites the Companies operating in public services of water, the environment and electricity – and the trade organisations of the workers Filctem-Cgil, Femca-Cisl, Uiltec-Uil which established it.

In 2018, there were 2,540 employees of the Group belonging to the Pegaso Fund (2,447 in 2017). Acea paid approx. Euro 4.91 million of TFR and Euro 1.49 million of supplemental corporate contribution to the fund. The economic value committed by Acea for TFR and other defined benefit plans i Euro 103.9 million.
By analysing the distribution by gender of the Acea members in the Fund, 77.7% are men and 22.3% are women (see Table no. 39). The net assets of the fund destined for benefits reached Euro 1,009 million in 2018 (Euro 987 million in 2017), an increase of approx. 2%.

In 2018 all three segments – Balanced, Dynamic and Guaranteed – closed respectively with losses of 2%, 4.52% and 1.57%.
The performance of the TFR, used as benchmark of the Guarantee segment, was 1.86%.
The Balanced segment, which includes 82% of the capital, has had a cumulative “compound” return in the last 17 years of 88.05% (average annual compound return of 3.78%). During the same period, the accumulated revaluation of the TFR was 43.52% (average annual compound return of 2.15%).

TABLE NO. 39 - SOCIAL INDICATORS: HOURS WORKED, ABSENCES, COMPENSATION AND MEMBERS OF THE SUPPLEMENTAL PENSION FUND (2016-2018)