1. People
  2. Commitment
  3. Volver

Ferrovial

Ferrovial - Integrated annual report 2013 / Commitment

The main milestones in relation to commitment to employees during the year were:

  • For the third year running, Ferrovial has received the “Top Employers” certification, which the CRF Institute awards annually. This certificate proves that the company has implemented policies and processes that guarantee the attraction, development and retention of the best talent, while promoting a good work environment. In Spain the company received the “Randstad Award 2013” as one of the three most attractive infrastructure companies to work for.
  • Amey, the services subsidiary in the United Kingdom, was given recognition in the “HR Excellence Awards” for promoting business change, improving performance and fostering growth. The Human Resources team has been named the “Best Team in the Private Sector” by a jury panel who highlighted the success of the various strategies implemented by the people management department. Three percent Amey’s workforce are involved in training programs for young people, and 80% of workers actively participate in the company’s various internal initiatives.
  • 77% of employees who answered the satisfaction survey would recommend Ferrovial as a great company to work for, i.e. 8 out of every 10 employees. This can be seen in the 27% increase in applications received during the year (319,727 applications for 5,299 jobs advertised).
  • In 2013, Ferrovial reinforced its presence in the leading social networks for professionals, giving a boost to talent recruitment on digital labor markets, with more than 37,000 followers. This strategy was based on the corporate video “Ferrovial in a day” , which drives home Ferrovial’s image as a great place to work. The video received 3,700 visits in just three months.
  • In 2013 there were 15,057 new hires, of which 89% belong to the Services division. This division represents 79.75% of Ferrovial’s entire workforce. Of the new hires, 34% were female and 66% male. The breakdown by age is:
  • As regards job satisfaction, the voluntary turnover rate was 2.9% for the company as a whole, and the breakdown by gender and age was:

Ferrovial’s commitment to its employees and to talent recruitment can be seen in its remuneration policies. These are set in accordance with competitiveness criteria in the leading markets in which it is present and includes fixed remuneration and short-term variable remuneration (annual) adjusted to local markets. The company’s management, in particular the Compensation and Benefits Department, monitors compliance with confidentiality requirements and ensures that its remuneration policy meets internal and external criteria of fairness.

Ferrovial considers variable remuneration to be a key element of its remuneration policy, as it drives value creation in each of the company’s divisions, rewarding individual, team and group contributions. The variable remuneration system covers 20% of the workforce, and takes into account managers and technical and administration staff.

Ferrovial believes that the current annual variable remuneration system is appropriate for the company’s goals. These indicators are linked to performance and fulfillment of specific economic and financial, industrial and operational targets which are set, assessed and aligned with the company’s strategy.

  • Quantitative targets: this type of target has a weight which is set in accordance with the level held in the company and with the appropriate balance between financial and operational metrics of the company’s divisions and each department.
  • KPIs: performance indicators, linked to individual performance appraisal. 

In addition, all employees (Spain) are included in a variable remuneration system (12,000 Plan), in which they can receive their bonus in shares with a limit of 12,000 euros.

This year the II Long-term Incentive Plan has been approved, which affects 350 people globally. Ferrovial’s policy on long-term incentive plans is based on the following principles:

  • Alignment with shareholder interests, through plans based on actions and metrics linked to value creation for shareholders.
  • Use of more than one metric, so that an overview of all of the results obtained is considered.
  • Combination of internal and external metrics (IRS) which are compared with a group of 16 competitors worldwide.
  • Measurement periods that last at least three years.

Flexible Remuneration Plan 

Ferrovial has a Flexible Remuneration Plan which gives the option of modifying the current remuneration package voluntarily and in accordance with personal needs, replacing part of the remuneration with certain products in order to optimize the net income of employees (computer equipment, health insurance, vehicle renting, nursery vouchers, life and accident insurance, transport card), as they are provided through the company and allow more competitive prices due to the volume of the company’s purchases.

The Employee Satisfaction Survey was consolidated in 2013 as a lever for managing employee commitment. The scope of the survey is 14,042 professionals and 52% of employees took part. The average percentage of favorable responses was 70%. The following are the results of three of the dimensions analyzed with the percentage of positive answers:

 

From the analysis of the results, 177 initiatives were identified, focused on improving promotion procedures, across-the-board knowledge and internationalization of talent.

In addition to this global tool for measuring employee satisfaction, the company has run various focus groups and surveys to sound out the opinion of employees on various aspects of their work relationship and to encourage contribution to certain aspects of the Ferrovial organization. In 2013, more than 20 processes took place with participation from around 8,000 employees.