The Company considers remuneration as a part of an integrated system of financial and non-financial encouragement of personnel, which allows the Company to maintain high competitiveness by attracting and retaining qualified and motivated employees.
The company adheres to the principle of ensuring equality of opportunity and treatment of employees in the field of employment, including equal remuneration for women and men for work of the same value, as well as non-discrimination in the field of work and employment.
Based on the outcome of 2019: the ratio of wage to the minimum consumer budget in the Republic of Tatarstan constituted 4.21, the ratio of the tariff rate (wage) of the first class with standard working conditions and the minimum wage for the RT (Minimum Wage Rate of the RT) constituted 1.29.
Remuneration of the members of the executive bodies and other key managers is determined in such a way as to provide a reasonable and justified ratio between the fixed part of the remuneration and the variable part of the remuneration, which depends upon the performance results of the Company and the personal (individual) employee’s contribution to the final result.
The Remuneration Committee consisting of independent directors and headed by an independent director who is not the Chairman of the Board of Directors has been set up for preliminary review of issues related to establishing the effective and transparent remuneration practices.
When forming a remuneration system and determining the specific amount of remuneration to the members of the Company’s governing bodies, it is assumed that the amount of the remuneration paid should be sufficient to engage, motivate and retain persons with the relevant professional background, knowledge and skills required for the Company.
The remuneration system is based on the principles and guidance of the Corporate Governance Code in alignment with the Company’s current practice of remuneration and compensation accrual. The company seeks to establish the remuneration for the members of the Board of Directors based on the contribution they make to the Company’s growth and development. An adequate level of remuneration helps attract highly qualified candidates and provides compensations for the time and effort they spend to get prepared for and participate in the meetings of the Board of Directors.
The Board of Directors sets the Company’s policy on remuneration and/or reimbursement of costs (compensations) to the members of the Board of Directors, members of its executive bodies and other key managers of the Company.
The system of the management staff remuneration is formed in alignment with the Company’s Strategic goals 2030