Responsible Human Resources Policy

With their unique skills and experience, GPW Group employees are an important group of the Group’s stakeholders. The organisational culture of the Group is based on engagement, values and effective internal communication as well as investment in continuous employee development.

GPW is a responsible employer and appreciates the trust and engagement of employees, supported by development opportunities in a safe and inspiring work environment.

In 2017, the Company continued initiatives focused on efficient management of HR, payroll, social and bonus processes to address business needs and support the implementation of the Exchange’s strategy. In 2017, GPW launched efforts to harmonise the human resources policy across all companies of the Group. Since 2017, GPW’s HR Department is the competence centre for GPW Group companies.

Headcount of GPW and the GPW Group as at 31 December

Number of GPW employees193 187 204 208
Number of GPW Group employees341340369373

GPW recruitment policy

The GPW Group pursues a transparent recruitment policy. GPW’s recruitment policy focuses on recruiting top-class specialists for all areas of the Company’s operation. The development of human resources and employee competences includes rotation in job positions within GPW and the Group. In recruitment for strategic positions, the Exchange works with professional personnel advisory institutions. The success and reputation of the GPW Group depend not only on the quality of provided services but also the way that we work. Our principles and values ensure compliance of the GPW Group with laws and regulations as well as fair and ethical conduct.

GPW personnel structure by gender as at 31 December

  2017 2016 2015 2014
Number of GPW employees - Women - Men 193 95 98 1878998 205 97 108 208 99 109

In the recruitment process, the GPW Group follows the principles of diversity and combats all forms of discrimination, in particular on grounds of sex, age, disability, race, religion, nationality, political creed, union membership, ethnicity, denomination, sexual orientation, and employment for a determined or undetermined period, full-time or part-time.

GPW Group employees included 145 women and 196 men as at the end of 2017.

GPW employee rotation as at 31 December

  2017 2016 2015 2014
GPW employee rotation 16% 20% 15,0% 7,2%

GPW employed 35 new persons and terminated employment of 29 persons in 2017. By comparison, GPW employed 22 new persons and terminated employment of 37 persons in 2016. The rotation ratio of the GPW Group was 21% in 2017.

GPW training policy

The GPW Group invests in employee development and supports the improvement of employee competences and expertise. It inspires employees’ development, creativity and potential of diversity and collaboration.

Training plays an important role in the process of employee professional development and improvement of qualifications. GPW intensified its training initiatives in 2017, including a programme which launched several training projects for GPW employees, key managers and other employees. As a result, 1,103 man-days of training were provided within 5 training modules to GPW employees in 2017. According to its HR policy, the Exchange co-financed post-graduate courses of employees. In order to improve their professional competences, GPW Group employees participated in market conferences, congresses and seminars. The average number of training days per GPW FTE was 5.26 in 2017.

GPW personnel by education, as at 31 December

  2017 2016 2015 2014
Total - Vocational education - Secondary education - University education 193023170 187019168 205 1 27 177 208 1 28 179

GPW had 193 employees at the end of 2017, including 170 employees with university education and 23 employees with secondary education. The Group had 341 employees at the end of 2017, including 289 employees with university education and 52 employees with secondary education.

GPW incentive system

GPW’s HR policy is largely based on employee engagement; hence, the Company attaches special importance to employee incentives. The basic salary offered by GPW is tied to the employee’s potential, competences and performance.

According to the Bonus Rules, the incentive system covers all GPW employees other than the Management Board. The objective is to incentivise employees’ superior performance based on individual targets.

The system includes appraisal of employee attitudes. The appraisal identifies the employee’s strengths and areas for improvement.

Every Exchange employee has wide access to fringe benefits including: health care, reimbursement of commuting costs, the Employee Pension Scheme, a canteen system, loans including housing and medical loans, as well as payments from the Company Social Benefits Fund.

GPW code of ethics

In addition to improvement of professional qualifications, GPW also takes steps to develop its value-based corporate culture which is unique in awarding and applying employee initiatives that improve the effectiveness of the organisation.

The GPW Employee Code of Ethics came into force in November 2013. It defines the core values applicable to all activities of the Company. The Code of Ethics was amended in 2014. It outlines the principles and values to be followed by all GPW employees; disseminates and promotes a culture of compliance with the law and decision-making based on ethical criteria in the following areas: mutual relations among employees, relations with customers and counterparties, relations with competitors, communication, promotion and advertising; and lays down sanctions for non-compliance. The document has been signed by all GPW employees.

In 2015, pursuant to the GPW Group’s CSR strategy, the Company’s Code of Ethics was implemented in the companies Towarowa Giełda Energii and BondSpot.

Occupational health and safety policy

GPW’s priorities include a healthy, safe and friendly work environment which supports the development of the professional potential of all Exchange employees. Under its occupational health and safety policy approved in 2014, the Company works to prevent accidents at work, occupational diseases and potential incidents, to continuously improve occupational health and safety and fire protection, to improve employee qualifications, and to integrate their role and engagement in occupational health and safety initiatives. GPW’s occupational health and safety policy was integrated into the subsidiaries TGE and BondSpot in 2015. There were no accidents at work at GPW in 2017.

Employee volunteering

Employee volunteering is one of the forms of GPW’s corporate social responsibility activities. In their volunteering work, Group companies support the youth education and care centre in Franciszków and two family children’s homes in Ruszków. Group employees prepare Christmas gifts every year. In the past years, GPW employees collected clothing and provided the centre with equipment including sports equipment.

Traineeships and internship

The Warsaw Stock Exchange puts a strong emphasis on capital market education and learning of young people.

For many years, the Exchange has offered traineeship opportunities to university students. The students major in different disciplines including Economics, Finance, and Marketing. Furthermore, GPW runs a programme addressed to the winners of the Capital Market Leaders Academy organised by the Lesław A. Paga Foundation in partnership with GPW and to Polish students of foreign universities in the GO4Poland programme.

Charity initiatives

On 14 December 2017, GPW hosted a Capital Market Christmas Party with close to 300 participants: government officials, listed companies, banks, brokers and investors. The event featured a charity auction whose proceeds went towards the acquisition of a fire truck for the municipality of Trzebuń in Pomerania. Trzebuń was one of the towns in the region badly hit by a natural disaster in the summer of 2017. The initiative supported the local community and its fire fighters who continue to grapple with the impact of last year’s bad weather. In 2017, GPW supported the Polish Humanitarian Action (PAH) by buying Christmas cards. P art of the proceeds went towards a food programme for children in schools and community clubs across Poland.

GPW Group supports employee’s social responsibility and integrates employees around volunteer initiatives.