Statement of the Human Resources policy

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The Human Rights Policy sets out our commitment to uphold internationally recognized human rights standards and to conduct our business with honesty, integrity and fairness and respect for human rights. We also respect the legitimate interests of those we engage with. In addition, this policy is aligned with the 2030 Agenda with its 17 Sustainable Development Goals (SDGs) adopted by the Member States of the United Nations.

There is no limit to this policy unless the policy is clearly not applicable.

The HR & People Management Business Unit defines human resources management priorities, sets work guidelines for human resources management and provides professional guidance to supervisors with the goal of achieving excellent business results by optimizing the performance of our employees, while ensuring exemplary working conditions.

The Bank undertakes to:

• integrate the policy at all levels of the Bank through internal communication;
• train new employees and third parties;
• provide training and raise awareness among all employees at all levels about the principles described in the policy;
• involve all relevant stakeholders in the collaboration on human resources issues, through appropriate tools and systems.

The Human Resources & People Management Business Unit coordinates and reviews the Human Resources policy and this statement.

It is responsible for defining priorities, procedures and work instructions in accordance with the principle of responsible human resources management. Similarly, its mission is to provide professional advice to managers with the goal of achieving excellent business results by optimizing the performance of our employees, while ensuring exemplary working conditions.

Our HR & People Management Business Unit will report to the Executive Committee at least once a year on any critical issues that arise. In addition, exceptional situations that call for escalation to a higher level will be reported directly to the Executive Committee

The Bank’s Code of Conduct sets out the principles for promoting collaboration within Spuerkeess on a collective basis, involving inclusive behaviour and characterised by a professional and respectful attitude.

1. DIVERSITY & INCLUSION

As a signatory to the “Lëtzebuerg Diversity Charter”, the Bank undertakes to offer its employees a working environment that respects differences in terms of values, age, gender, disability, ethnic and cultural origin, lifestyle, health status, religion and sexual orientation.

2. HEALTH,SAFETY AND WELL-BEING

The Bank is committed to creating a safe and healthy working environment where the health and well-being of employees remains a priority, in order to ensure the sustainability of jobs and the development of all staff (e.g. career plan).

3. REMUNERATION

The Bank’s remuneration policy, which is based on legal criteria, sets out the principles of remuneration, advancement or promotion conditions, overtime, year-end bonuses and allowances for dependent children.

4. DEVELOPMENT AND PERFORMANCE MANAGEMENT

Spuerkeess undertakes to:

• ensure regular dialogue and give employees and their manager(s) the opportunity to review the work done each year during individual interviews;
• ensure that ambitious targets are set and evaluated effectively each year by employees and manager(s); 
• provide all employees with feedback on their performance and career aspirations, training program needs, and ways to improve communication between employees and their respective managers; 
• help each manager spend the time needed to monitor objectives and regularly coach employees throughout the year;
• encourage each employee to express their career goals and expectations, and take them into consideration by offering them attractive yet realistic professional mobility opportunities enabling them to develop their skills over the long term;
• promote collaboration among employees through constructive, inclusive and responsible leadership channels.

5. RECRUITMENT

Spuerkeess undertakes to:

• advertise job vacancies via the Bank’s website and contracted human resources portals, and allow applications to be submitted via these channels;
• provide accurate and exhaustive job descriptions;
• train and guide new hires;
• offer students the opportunity to do internships to complete their academic curriculum, including the opportunity to use what they learn from this experience in the selection of their undergraduate or graduate thesis;
• guarantee objective recruitment via quantifiable and measurable criteria (tests, interviews, evaluations, etc.) rather than subjective judgements;
• provide equal employment opportunities for all applicants by ensuring a non-discriminatory hiring process.

6. SOCIAL RELATIONS

Spuerkeess undertakes to:

• respect the freedom of association of its employees and the right to collective bargaining, and to establish structures through the organisation to proactively engage with trade unions and employees with a view to create and strengthen constructive relationships;
• provide our employees with legitimate, accessible, predictable, fair and transparent rights that are consistent with our code of conduct;
• apply a zero-tolerance policy towards any type of harassment in the workplace. In the event of harassment, employees may refer to the internal policy in place (Harassment at Work).

7. RETIREMENT AND PENSION PLANNING

Spuerkeess undertakes to:

• provide flexible work options to enable older employees to make a gradual transition from full-time work to retirement and to ensure an effective transfer of skills and experience;
• ensure a personalised and competitive pension scheme;
• implement a robust succession planning process at all levels to ensure the effective transfer of knowledge, know-how, experience and expertise.

8. LEADERSHIP AND TALENT MANAGEMENT

Spuerkeess undertakes to:

• focus on ensuring that the right skills match the respective positions and actively encourage internal mobility.
• monitor employees who have indicated an interest in changing positions within the Bank;
• continuously develop technical, transversal and leadership skills,
• facilitate the planning of the succession of key positions within the Bank;
• detect promising talents.

In case of non-compliance with the Human Resources Policy, all necessary steps will be taken to rectify the situation and ensure compliance in the future.

In situations where the Bank does not have full management control, we will exercise our available leverage to promote compliance with the policy.

As a policy related to a specific activity of the Bank, the human resources policy is updated regularly whenever strategic objectives, organisational practices and/or substantial changes in applicable legislation or regulatory requirements occur, and at least once a year.