ASF - 2002 annual report - Vinci

Towards a new group dynamic
Developing a corporate policy involving employees in the successful running and results of
the company: this is the spirit in which the ASF group has worked in 2002 and undertakes
to do so in the coming years.
The Group’s undertakings
To involve the employees more
closely with the successful running
of the Group, its objectives
must be made known and shared,
and a managerial and economic
culture must be developed
in the company. This policy
also requires the implementation
of a human resources management
policy aiming to give
extra value to abilities and to
encourage the personal and professional
development of each
and everyone. Lastly, the employees
are associated closely with
the results: in 2002, the first profit
sharing was paid to the ASF
personnel.
Welcoming new shareholders
into the capital: more than
85% of shareholder employees
and personnel subscriptions
fully satisfied
The rate of subscription climbed to
93% in ASF and to over 65% for
ESCOTA. These exceptionally high
figures highlight the success of the
project and the employees’ attachment
to their company.
Acknowledging the success of
this subscription, the Board of
Directors, upon proposal of the
Chairman Bernard Val, decided to
increase the size of the offer in
order to serve all the subscriptions
received, i.e. an increase of 750,000
shares. Employees now hold 2.4%
of the Group’s capital.
A new remuneration policy
2002 was the first year of application
of the new system of salary tables:
automatic increases based on
length of service are now fewer in
favour of a more individualised policy
of increases based on merit. The
implementation of this new table
was accompanied by a considerable
effort in favour of the lowest salaries.
In this period which is seeing so
many changes, the Group intends to
continue to give executives the
means to assume their responsibili-
Key figures
Workforce: 8,255 employees
(1,035 of whom have fixed term
contracts) Executives,
supervisors, employees and
workers representing 7.49%,
27.43%, 48.61% and 16.47%
respectively of the employees
of the ASF group.