Employees’ Council

The Employees’ Council (EC or the Council) represents all Netherlands-based NIBC employees and is charged with ensuring that management objectives are aligned with those of employees.

 

 

 

In 2008, the EC worked side-by-side with management to advise on a number of important issues such as changes in the Managing Board, the sharpened strategy and the retention plan, all in light of the challenging market conditions.

 

Some of the EC’s main activities were the following:

  • The Council advised positively on the appointment of two new Managing Board members, Chairman and CEO Jeroen Drost and CRO Jan Sijbrand;
  • In March, the EC discussed with the Managing Board the position of employees and their NIBC Holding shareholdings in relation to the EUR 400 million capital injection the bank received from its major shareholders in 2008. This resulted in the opportunity for employees to participate in the share issue;
  • After the presentation of the two-pillar strategy by the Managing Board in the summer of 2008, the EC was asked to advise on the proposed organisational changes stemming from the sharpened strategy. The Council advised positively on the implementation of the strategy, changes to the organisational structure and consequently streamlining the organisation, reallocation of budgets and other relevant topics;
  • The EC also advised positively on a new retention package for all employees. Retention is an ongoing concern for the Council as a good working environment is important to all NIBC staff;
  • The Social Protocol that expired in December 2008 was renewed for another two years after intensive negotiations between the Managing Board and the EC;
  • The EC finalised a document on working together with the Managing Board and the Supervisory Board. They agreed upon a framework of consultation structures within NIBC. This document, ‘Overview of consultation structures and work procedures’, formalises how the EC works; and
  • The Council held in-depth discussions with Human Resources on the Human Resources agenda. The EC advised, for instance, on ways to improve employees’ work-life balance and to enhance career, educational and personal development for staff.

 

The EC is keen to be informed at an early stage of developments that affect staff, so it can play the best possible role in weighing alternatives and be part of a true dialogue. To this end, the EC strives to be proactive in coming up with fresh new ideas.

 

The Council has six formal meetings per year with members of the Managing Board and informal meetings every four weeks with the Managing Board and Human Resources. In this way, it can truly represent staff and be their voice. Each quarter, the EC discusses NIBC’s financial results with the CFO just after they are published, so that it can stay abreast of financial developments. Twice a year, the EC also meets with members of the Supervisory Board in a constructive and open manner.

 

Throughout the year, as always, the Council was open to all questions and suggestions from staff. On several occasions it provided an overview of the most important issues to all employees.

 

In order to keep close to all units and departments in the bank, the EC seeks to spread membership of the Council throughout the organisation. The EC welcomed four new members in 2008, taking it up to a total of 10 members.

 

The EC would like to take this opportunity to thank the Managing Board for its constructive cooperation and all NIBC employees who provided useful input.

 

 

Jack van Reisen

Chairman

Employees’ Council

 

Hans Nagtegaal

Vice-Chairman

Employees’ Council