Group Performance

“Our workforce is our most valued resource. Respect for their human rights, providing safe, open, non-discriminatory, diverse and good working conditions and an emphasis on employee development are essential in order for TITAN Group to attain its objectives.” (TITAN Group Code of Conduct)

TITAN’s objective is to safeguard business sustainability and growth engaging with its key stakeholders and primarily with employees who are considered its most valuable resource. Accordingly, employment at TITAN Group is characterized by long-term relationships with employees, grounded in mutual trust, reliability, stability and shared values.

TITAN Group operates in four different and diverse regions, though aiming at primarily serving local needs. Employment for TITAN Group is also mostly related to local communities and stakeholders, as well as management of TITAN operations that are delegated to local management teams. These teams are empowered with TITAN Group values, standards and principles, tools and working methods to execute their responsibilities.

In 2012, employment at TITAN Group was protected with only a 1.6% decrease in total employment compared to 2011. TITAN continued to provide significant employment at its many locations worldwide and at the same to commit substantial resources to training and developing employees’ knowledge and skills throughout the organization, believing that this is essential to continued business success.

Employee turnover per country in 2012 was: Albania: 1,87%, Bulgaria -5,86%, Egypt: 2,90%, FYROM: 2,72%, Greece: -4,52%, Kosovo: 2,24%, Serbia: -18,96%, Turkey: 1,62%, USA: -1,04%

Group employment turnover was 1.84% compared to 2011, with a total of 268 new hires.

Employee engagement is monitored at the operating company level. Low absenteeism rates and other metrics point to a high level of employee satisfaction throughout the Group.

The restructuring plan that has been enforced to respond to the continuous downturn in key markets has considered the business needs in each country of operations, as well as opportunities for sustainability and social factors. Accordingly, from the beginning the restructuring framework that was followed provided for:

• No planned overtime work
• Very selective hiring and limited replacements of retiring employees
• Support for redeployment
• Voluntary early-leave plans for those close to retirement
• Programs to support self-employment and cooperation on a contract basis in cases  that this is feasible
• Additional social support and compensation schemes beyond legal obligations

This has enabled safeguarding all jobs in cement plants as well as the level of wages and salaries. Additional benefits that support employees and particularly our blue-collar workers have been not altered. These benefits vary from country to country, but as a minimum provide subsidization of or free meals and transportation, additional medical care and insurance coverage programs, financial and in kind support for families and children’s education.

In Greece, to strengthen the safety net for those that have been mostly affected by the financial crisis, a full review of policies to provide short-term interest free loans for employees, and additional in kind benefits has been conducted.

In all countries, the ratio of basic salaries and remuneration is in harmony with market standards and collective agreements where applicable. There are no subjective differences in pay for the same job.

Regarding the parental leave, the following table shows that in almost all countries of TITAN operations women are entitled to and took parental leave according to the local legislation, but only in Bulgaria and Turkey men are also entitled to parental leave and took it. All employees of the Group who were entitled to and took their parental leave in 2012 have returned to work and retain their job 12 months after return. Kosovo is not included in this analysis, because no employee at SharrCem became a parent during 2012. Relevant data are not available from the U.S., since the U.S. legislation does not provide for parental (paid) leave. However, according to TITAN America’s Family and Medical Leave Policy, job protection is secured after any kind of leave.
 

Total: 5517 employees, 607 women and 4910 men

Parental Leave (PL) 2012*

Country
Albania	2	0	2	2	0	2	2	0	2	1	0	1	100.00%	50.00%
Bulgaria	6	3	3	6	3	3	4	3	1	4	3	1	66.67%	66.67%
Egypt	15	0	15	4	0	4	2	0	2	2	0	2	50.00%	50.00%
FYROM	2	0	2	2	0	2	2	0	2	2	0	2	100.00%	100.00%
Greece	16	0	16	16	0	16	10	0	10	11	0	11	62.50%	68.75%
Serbia	17	11	6	6	0	6	4	0	4	1	0	1	66.67%	16.67%
Turkey	10	9	1	10	9	1	10	9	1	12 months are not completed yet	100.00%
Total	68	23	45	46	12	34	34	12	22	21	3	18

*Kosovo is not included in this table, because no birth took place in 2012 within SharrCem’s employees. Relevant data are not available from the U.S., since there is no parental (paid) leave for U.S. employees. However, according to TITAN America’s FMLA Policy, job protection is secured after any kind of leave.