Report the process for determining remuneration. Report whether remuneration consultants are involved
in determining remuneration and whether they are independent of management.
Report any other relationships which the remuneration consultants have with the organization.
- p. 174
The remuneration policy is based on the best practices in the domestic labour market and the most important factors that affect executives’ competitiveness and motivation. The Board of Directors approves the remuneration policy. External consultants are not involved.
The remuneration policy is continuously being updated so as to take into account new trends and conditions prevailing in the economy and society.
- Personnel are covered by a collective agreement – salary scales (collective agreement ) as per position
- Executives are remunerated according to market salary surveys
Salaries are determined via HAY, and are compared to industry averages. Furthermore, when determining remuneration, several additional factors are taken into account such as: the position of the employee, their previous performance, experience, skills, exceptional merits (successful projects, etc.)
No consultants are involved in the remuneration process of Asprofos’ employees. Salaries are determined on the basis of a collective bargaining agreement.
The company strictly adheres to the Bulgarian law, follows the Group policies and does not use external consultants.
General Assembly determines the amount of remuneration only for BoD members. Consultants are not involved in determining remuneration.
Same as HELPE