Our people

In 2024, we strengthened our commitment to building an increasingly inclusive, equitable and diversity-respecting work environment. Our Diversity, Equity & Inclusion (DEI) initiatives developed along two main dimensions: generations and gender.

To foster intergenerational dialogue, we:

• organised an ad-hoc webinar focused on Generations within the “Do You Speak Inclusion?” training path;
• attended Career Days at the main Italian universities;
• promoted events and digital content to attract young talents under 35 leveraging social media and the active involvement of our Top Management.

Regarding the gender equality, we:

• ensured gender heterogeneity with at least 25% of female short-listed candidates in recruitment processes;
• launched female empowerment programmes and included talented women in succession plans;
• monitored the Gender & Equal Pay Gap and organised events such as Be Bold for Inclusion and Eventi in rosa;
• focused on gender violence through dedicated webinars;
• are among the signatories of the Charter “Donne in Banca” promoted by the Italian Banking Association (ABI). In accordance with the principles promoted by the association, the Bank is committed to enhancing its corporate policies according to the principle of equal opportunities;
• are members of “Women&Tech – Donne e Tecnologie”: this is a network of companies and people who pool their skills to realise women’s potential in innovation, promoting projects and actions against gender stereotypes and discrimination;
• have adhered since 2021 to the UN Women’s Empowerment Principles (WEPs), adopting concrete guidelines to promote gender equality and women’s empowerment in the workplace.

Moreover, to foster equity, we implemented an integrated approach to remuneration policies, ensuring equal opportunities regardless of age, gender, sexual orientation, disability, or cultural background. Pay equity is a fundamental principle for us. 

In terms of inclusion, we engaged all employees in the “Do You Speak Inclusion?” programme, structured as series of five webinars on topics selected directly by our people, like: Balance, Generations, Pride, Cross-Cultural, and Disability. We also:

• launched “Be Parents”, an initiative for new parents aimed supporting the role of both mothers and fathers;
• created Quiet Rooms in our main offices - multifunctional spaces for individual use, designed to support mental and physical well-being, with special attention to the needs of new mothers returning to work;
• improved accessibility of workspaces and workstations for all employees;
• extended our “Next Normal” smart working model, allowing up to 12 remote working days per month, supporting work-life balance.

All these actions reflect our concrete commitment to fostering a work environment where everyone feels welcomed, respected, and free to express their full potential.

The results of the 2024 survey highlight how the actions taken in recent years have turned many of the issues that were once seen as priorities into strengths, like more equity, transparency, openness to dialogue with top management, work-life balance, and the development of skills aligned with evolving technological and business needs.  Among the new priorities emerged the need for more present People Managers and the importance of investing in training and acquiring new technical and technological skills, along with the promotion of closer collaboration among BG Group teams and the continued commitment to Diversity, Equity & Inclusion in support of organizational well-being.

Overall remuneration is based on a balanced fixed and variable pay mix depending on the company role. Performance is assessed through an approach that, depending on the employee population and time horizon considered, takes into account the results achieved by the individual, the performance of the relevant organisational unit, and the overall performance of the Company/Group. This is aimed at aligning the interests of management and shareholders. The short-term variable component, designed to reward both short- and medium-to-long-term results, is based - for certain roles - on the Balanced Scorecard (BSC) methodology, aimed to the achievement of quantitative and qualitative objectives - both financial and non-financial - related to the specific role. Top Management benefit of a Long-Term Incentive Plan (LTI).

Any action taken as part of the personnel remuneration policies is informed and shaped by the following principles:

• Internal Equity: compensation packages are consistent for comparable professional roles, taking into account the nature of the business, the position held, assigned responsibilities, demonstrated skills and competencies, geographic location, and other factors that may influence compensation levels over time. Obviously remuneration practices are gender-neutral.
• Competitiveness: compensation levels are aligned with those of relevant market benchmarks, which are continuously monitored to ensure consistency with best practices.
• Sustainability: our remuneration policies are an integral part of the Group’s strategy, which attributes significant weight to sustainability towards all stakeholders. Sustainability objectives also include that of promoting a sustainable, inclusive work environment and remuneration systems that are able to ensure the sustainability of both the Group’s and individual performance.
• Meritocracy and Performance: Reward systems based on merit and performance are consistent with the results and the behavior held to attain the same, which must be oriented to unwavering compliance with applicable regulations and procedures, as well as constant and focused risk assessment, enhancing talent and professional and personal growth.

As a Bank, we joined the 2nd edition of the ‘We SHARE 2.0’ plan promoted by the Generali Group, with the aim of fostering people's engagement in the achievement of strategic objectives, a culture of ownership and empowerment and their participation in the creation of sustainable value. This has given our employees the opportunity to participate in the share ownership plan and purchase Generali shares on favourable terms, with additional benefits linked to the achievement of ESG and financial objectives.

Financial Advisors serve the Bank pursuant to an agency agreement providing for, inter alia, variable remuneration directly linked to various types of revenues, on a percentage basis. The said variable remuneration is however recurrent, insofar as it is directly linked to the assets entrusted to each Financial Advisor and the related advisory and placing activities. Moreover, Financial Advisors may also qualify for further remuneration under various incentive plans. All bonuses are subject to compliance with current regulations, integrity in client relationships, and the achievement of predefined objectives through corrective malus and claw-back mechanisms.

More details are available in the Report on Remuneration Policy and Compensations Paid.

At Banca Generali Group, trade union rights and freedom are fully respected, both in relation to trade union organizations (at company and territorial levels) and individual employees. In particular, the Internal Code of Conduct recognizes our People’s right to freedom of association and collective bargaining.

As of the end of 2024, the unionization rate stood at 34% (up from 33% in 2023).

100% of employees in Italy are subject to social and national legislation and the provisions of the National Collective Labour Agreement (CCNL) for the Credit sector or for credit Managers. In implementation of the National Collective Labour Agreement, the activity of Fondazione Prosolidar, which is involved in solidarity projects at an international level, was promoted, and saw the participation of over 80% of employees of Banca General S.p.A and Generfid S.p.A. Local legislation applies to the employees of BGFML, BG Valeur S.A. and BG Suisse Private Bank S.A, who are excluded from CCNL.

Trade union relations are conducted in line with the provisions of the law and collective bargaining (CCNL for the credit sector and Company Supplementary Contract – CIA). In particular, the system of trade union relations is developed through trade union meetings of an informative and advisory nature, as well as formal negotiations. This approach enables trade union organizations to effectively express their role within the company.

Regarding trade union relations at company level, the provisions of the supplementary company bargaining (so-called CIA) are still applied, summarised as follows:

Banca Generali has always considered the physical integrity of its employees a fundamental value and is committed to promoting a healthy and welcoming work environment for its workforce, including its Financial Advisors. To this end, the Bank has established internal policies and procedures to oversee this area. The Internal Code of Conduct, inspired by principles of fairness, transparency, and integrity, ensures that all workplaces are safe, healthy, and secure.

In 2024, a new security control framework was introduced at the bank branches. All branches are now protected using the security systems recommended by market best practices and by OSSIF, the ABI’s Research Center on Anti-Crime Security.

The necessary provisions are constantly applied with the specific support of a team of professionals from a qualified third-party firm - which carries out its activities by collaborating with Generali Group so that procedures, methods and rules are uniformly applied - appointed to the role by Banca Generali S.p.A. with the signing of an outsourcing contract for safety issues. The activities of the third party firm appointed to the task by Banca Generali S.p.A. are constantly monitored through specific SLAs/KPIs, as part of the duties of the company Head of the Prevention and Protection Service (RSPP), responsible for health surveillance.

Find out more details in the Integrated Annual Report.