Metinvest will increase salaries to its workers in Ukraine from March 1
From March 1 this year, Metinvest Group will increase the salaries of production staff of its Ukrainian enterprises. During 2022, labor costs in the Group will increase by 10%,
Ukraine , Ukraingate , 17 , February , 2022 | Ukraine News
Metinvest monitors the country’s inflation rate and staff outflow, so the decision to review salaries will be considered. During March, the company will take a differentiated approach to the revision of wages and will announce how much the salaries of different categories of employees will increase.
Metinvest continues to be guided by the principle of building a fair system of remuneration for work of comparable complexity and will continue to unify salaries within one profession and qualification. Salary increases will not yet apply to managers and management staff of enterprises, as well as employees of the management company.
In matters of remuneration management, Metinvest focuses on qualified technological and repair personnel. Thus, the Group motivates employees who make a significant contribution to the efficiency of technological processes and product quality. This approach motivates employees of other professions to develop and master new knowledge and qualifications.
In April, Metinvest completes the stage of annual staff appraisal based on the results of work in 2021. From April 1, based on the results of the annual assessment, new individual surcharges for workers in the amount of 5% to 25% of the salary will also be reviewed and set.
In addition to raising salaries, Metinvest traditionally maintains a wide range of tools that allow employees to increase their income by participating in operational improvement programs and submitting proposals related to improving the safety and efficiency of production. The motivation tools available in the Group allow to increase the income of employees up to 10% due to the growth of actual production and reduction of unscheduled equipment downtime.
For many years, Metinvest Group employees have been the highest paid in the mining and metallurgical industry of Ukraine. Salaries in Metinvest are 5-8% higher than those of competing companies. It is the recruitment and retention of the most qualified staff in the Metinvest team that allows the company to occupy high positions in the steel market. As of February 2022, the average salary at Metinvest’s Ukrainian enterprises is UAH 22,000. This is 8% higher than in the industry and 26% higher than the average wage in Ukraine.
The outflow of technological personnel in the Metinvest Group does not exceed 8.5% on average, which is in line with normal practice for the mining and metallurgical industry. The company has achieved the lowest outflow of staff in ten years due to the constant development of systems of adaptation, retention, training and motivation of employees.
“We are doing everything to develop Mariupol, and Mariupol residents have a decent job, a decent salary and a happy life. I would like to thank all employees for their work, responsibility and, most importantly, for their love for their native factories, hometown and our country. native country, “said Metinvest Group shareholder Rinat Akhmetov.
“Increasing the social guarantees of workers is a traditional practice of our company. Metinvest retains and attracts new employees through various incentive systems, including a level of wages that exceeds both the average Ukrainian and industry,” said Metinvest Group shareholder Vadym Novynsky.
“Metinvest appreciates the contribution of its employees to the overall result of the company and intends to continue to be a leader in the level of staff motivation. This year we decided to increase salaries earlier than usual – from March 1. As last year, we will also celebrate employees who did a significant contribution to the implementation of the operational improvement program, “said Metinvest Group CEO Yuri Ryzhenkov.
Source: Ukrgate
