An efficient organization made up of motivated employees with the right knowledge and experience is without a doubt one of the most important success factors in the Fund’s striving to achieve the returns demanded by its mission.
Continuous development
A high level of motivation demands clear and effective leadership. Due to the importance of good leadership, the executive Management Team, whose composition changed with the appointment of a new Managing Director in March, started a leadership program in the autumn of 2008. A leadership program for the Fund’s other managers is planned to start in 2009.
In a knowledge-intensive organization like Första AP-fonden, it is vital that each employee’s unique abilities are identified, utilized to their full potential and continuously developed. It is therefore the direct responsibility of each employee and manager to ensure adequate skills development in line with the Fund’s needs.
Employee performance is also affected by health and work environment factors. In order to promote well-being and minimize sickness absence, the Fund encourages physical activity and offers its employees subsidised fitness benefits.
An attractive workplace
In order to attract and retain the top talent, the Fund must be able to offer a competitive level of compensation. The Board therefore decided to implement a variable remuneration plan for the financial year 2008.
All employees except the Managing Director and staff in the risk management unit are covered by the plan. The system is performance-based, which means that variable remuneration is payable only on the attainment of fixed and predetermined targets. The maximum potential amount payable to each employee is equal to two monthly salaries, where the payment is reduced by half if the Fund’s net investment income is negative. The ambition is to offer a similar plan for 2009, but no decision has yet been made.
Employee survey – a valuable tool
To ensure that employee skills and expertise are being optimally utilized and to support the Fund’s vision and values, an employee survey is carried out every year. Based on the answers in the survey, an MMI – Motivated Employee Index – is calculated. In the survey for 2008, which was answered by 91% of the employees, the MMI ratio showed a rising trend, among other things with improved employee perceptions of comittment, pride and development. Other important factors such as working conditions, opportunities for ongoing skills development and a good introduction for new employees were also given high marks.
Gender distribution, all employees
Gender distribution, management
Employee turnover rate
| Employee statistics |
|
|
|---|---|---|
| Average no. of employees in 2008: |
|
65 |
| Total no. of employees on 31 Dec. 2008: |
|
68 |
| Average age: | Women | 46 years |
|
|
Men | 43 years |
| Average years of service: |
|
7.6 years |
