Respect for human rights, equal opportunities and staff engagement
Moscow Exchange Group recognises the important role of employees in the successful achievement of its goals and its consistently high reputation in global financial markets. The Group places great emphasis on professionalism: employees are expected to successfully achieve the companies’ objectives in finance and IT. Therefore, HR strategies therefore prioritise training and development, personal growth, well-being, and comfort in the workplace.
The Group fosters a strong corporate culture, which covers gender equality issues, labour rights,
and human rights. It continuously improves its incentive and social, programmes and encourages
employees to maintain good health. All employees can communicate their opinions on various matters to their employer, and they can have a say in internal regulations, practices, and business processes in line with their competencies. All this helps the Group in solving its challenges on an international level while building the country’s financial market infrastructure.
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SDG 4.4 Develop employees’ professional and technical skills SDG 4.7 Train employees for effective management of sustainability within the Company |
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SDG 5.5 Ensure gender balance in the Company |
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SDG 8.5, 8.6, 8.7, 8.8 Ensure decent working conditions for employees |
Major highlights in responsible investing and sustainable growth
Major highlights in respect for human rights, equal opportunities and staff engagement
Employee engagement and efficiency
Key HR policy objectives
The Human Resources Policy of Moscow Exchange Group sets the following key objectives:
- engagement, motivation, and retention of high-end professionals
- provision of opportunities for continuing professional development
- creation of an atmosphere facilitating the realisation of employee potential and the achievement of the Group’s strategic goals
The Supervisory Board of Moscow Exchange considers issues associated with HR management, identifies strategic objectives in this area, and monitors the achievement of corporate goals.
Among the matters considered at meetings of the Supervisory Board are:
- approval of key HR policy documents, including the Long-Term Incentive Programme;
- setting and controlling the implementation of annual corporate goals that cascade down to senior management and line employees and monitoring their fulfilment.
Social climate
Moscow Exchange Group is strongly focused on the opinions and motivations of its employees in order to maintain a positive social climate in the workplace, as well as to encourage staff to take
a keen interest in operating results. Monitoring is carried out in the form of an annual comprehensive study of employee engagement.
The comprehensive study of employee engagement consists of three sections:
- Engagement – an index reflecting employee motivation and the productivity of the working environment in a department
- Loyalty – an index reflecting the commitment of company employees
- Satisfaction – the extent to which employees are content with their work, working conditions, and the work atmosphere at the company
Each of the three components is measured based on 58 closed-ended and 4 open-ended questions.
The results of the study are used to develop and prioritise measures aimed at improving employee levels in these three areas. Employee focus groups are also held to prepare further actions.
Employee performance reviews
Moscow Exchange Group conducts annual performance reviews of all staff who have worked at the Group for more than three months of the reporting year. The criteria used in the reviews include both the achievement of personal targets and the completion of compulsory compliance training. Any confirmed violations of corporate requirements are also considered.
KEY DOCUMENTS:
- Internal labor regulations
- Regulation on Variable Remuneration
- Regulation on Annual Bonuses
- Regulation on Corporate Social Support
RESPONSIBLE BODY:
- Personnel and Human Resources Policy Department
Employee remuneration and motivation
Employment relations at the Group’s companies fully comply with Russian law. The companies of the Group also provide additional social benefits. The commitment of the Group’s companies to the principle of non-discrimination in their hiring practices and to fill all vacancies objectively are enshrined in the values of the Group and the Code of Professional Ethics of Moscow Exchange.
All types of leave envisaged by Russian law are provided to Moscow Exchange employees. These include annual paid leave, unpaid leave at the employee’s request, educational leave, maternity and parental leave, leave to care for a child of up to three years of age, days off to care for a disabled child, days off to donate blood, etc.
Moscow Exchange strives to avoid forced redundancies. The minimum notice period for future operational changes at the Group’s companies is two months, in accordance with Russian law.
Employee remuneration and benefits
Moscow Exchange Group offers its employees competitive levels of pay, which includes fixed and variable (bonus) components. Both components are determined based on an existing system of levels of seniority (pay grades) and labour market data. The bonus portion depends on the overall performance of the Group and the employee’s individual performance.
Moscow Exchange Group provides its full-time employees with a benefits package that includes insurance services, medical insurance, and other perks (including programmes that encourage a healthy lifestyle and hobbies).
Insurance packages are also available to part-time and temporary staff. The Social Affairs Commission of Moscow Exchange considers requests from employees for financial aid due to accidents or emergencies not covered by the existing insurance programmes.
| Type of programmes | Description of programmes | Types of employees covered by the programme |
|---|---|---|
| Insurance services | Accident and illness insurance Voluntary health insurance International health insurance International travel insurance |
All employees All employees; they may also insure their relatives at their own expense All employees; they may also insure their relatives at their own expense All employees covered by voluntary health insurance |
| Medical services | Paid sick leave of up to 100% (in accordance with Russian law—up to 10 days) | All employees |
| Parental leave | Compensation for parental leave in accordance with Russian law | All employees |
| Maternity leave | Compensation of up to 100% (in excess of the statutory level established by Russian law) | All employees |
| Social programmes | PrimeZone corporate discount programme | All employees |
In addition to the social package, Moscow Exchange funds the activities of a range of hobby clubs, including Moscow Exchange Smart (for the television quiz show What? Where? When?), a cooking club, Moscow Exchange Walk (walking tours of Moscow), and various sports groups. Because the Group supports its employees in trying to lead active lifestyles, there is a fitness room at the Moscow Exchange office.
Moscow Exchange Group strives to develop its corporate culture based on the principles of leadership, commitment, and employee engagement.
Key corporate culture objectives:
- increasing employee engagement in implementing strategy;
- developing effective models of behaviour for employees to implement business objectives at Moscow Exchange Group;
- improving the efficiency of vertical, horizontal, and cross-functional cooperation by employees.
The corporate values of Moscow Exchange Group are integrated in all key HR processes, including the internal communications system, incentive system, performance review system, and corporate training processes. Staff are encouraged to provide feedback (see the Social Climate subsection) to improve employee engagement.
Employee appreciation
Moscow Exchange has non-financial incentive programmes in place for its employees. As part of the Appreciation Programme, an annual contest is held to identify the most active and best performing employees of Moscow Exchange, as well as the best functional and project teams. Winners are selected in five categories, and the corporate intranet is used for the voting. The winner of the ‘CEO’s Choice’ category is selected by the Chairman of the Executive Board. The MEMS project was launched in 2016. Employees receive the currency from their managers in recognition for their performance, from their colleagues for providing help in the course of their work, and from the companies of the Group for active participation in corporate activities. They can redeem the currency at the Group’s in-house store to buy special Moscow Exchange souvenirs that are unavailable for purchase elsewhere.
Moscow Exchange’s learning and development system includes educational programmes, development in the workplace, and self-study resources. Employees themselves choose what type of training they would like to engage in. Staff can use state-of-the-art technologies, corporate resources, and other tools to meet their development needs.
Evaluation of learning needs
Moscow Exchange has traditionally paid considerable attention to the quality of training, and it regularly analyses employee competencies and experience participating in training courses and programmes. This helps Moscow Exchange plan the further development of the professional development system. A Net Promoter Score (NPS) is included in the KPIs of the Training Unit of Moscow Exchange.
To identify learning needs, a comprehensive study is carried out to analyse HR risks, assess the effectiveness of educational activities, obtain 360-degree feedback, and identify the most promising employees.
Every Moscow Exchange employee can apply every quarter to take hard-skills training. All requests are considered and approved based on the allocated budget, provided that there is a confirmed business need for the training. The Group also conducts compulsory training sessions in soft skills for novice managers. Individual development programmes are created for members of the succession pool (successors to key positions).
Diversity and equal opportunity
In accordance with Russian law, the principles of Conventions No. 111 and No. 156 of the International Labour Organisation, and the Code of Professional Ethics of Moscow Exchange Group, the Group does not tolerate any form of discrimination in the workplace. Moscow Exchange Group respects all cultures, opinions, and lifestyles. It rejects all forms of harassment and discrimination based on gender, religion, way of thinking, ethnicity, nationality, physical ability, gender identity, skin colour, marital status, political views, or affiliation/non-affiliation with any social group.
Moscow Exchange does not participate in any actions that could contribute to a workplace atmosphere of intimidation, hostility, abuse, or abasement of human dignity. The Group strives to provide equal employment opportunities and ensure gender equality among its staff. The work schedule and scope of work of Moscow Exchange employees are regulated by the respective job descriptions and internal regulations, which are fully compliant with the Labour Code of the Russian Federation. Additional hours of work – or any overtime work as stipulated in the respective employment contract – require the personal consent of the employee, and such work is paid in accordance with Russian labour law.
According to the Code of Professional Ethics, hiring, filling vacancies, determining remuneration, and providing opportunities for upgrading employee skills and training are based on the professional qualities and performance metrics of individual employees. The Group has zero tolerance for any forms of favouritism.
KEY DOCUMENTS:
- Human Resources Policy of Moscow Exchange Group
- Code of Professional Ethics of Moscow Exchange
- ILO Conventions Nos. 111 and 156
- UN Universal Declaration of Human Rights
RESPONSIBLE BODY:
- Personnel and Human Resources Policy Department
Occupational health and safety, and well-being of employees
Moscow Exchange Group takes responsibility for the health and safety of its employees. It sets corresponding goals and objectives, and it plans and funds activities to achieve them. The occupational health and safety system of Moscow Exchange conforms to the requirements of Russian law. It covers 100% of the Group’s employees. No contractors or business partners of the Group are covered. The Group also has an Occupational Health and Safety Policy, which was approved in 2018 and lays out corporate standards for occupational health and safety. According to the Occupational Health and Safety Policy, Moscow Exchange Group assumes the following obligations:
- compliance with the requirements of Russian law on the occupational health and safety of employees and assurance of compliant working conditions;
- provision of safe working conditions through consistent and continuous activities aimed at preventing accidents, work-related injuries, and work-related ill health, including by managing professional risks;
- information of all employees of any hazards, harmful factors, or professional risks identified in the workplace;
- improvement of the occupational health and safety management system in order to ensure it meets the Group’s needs and facilitates the professional development of employees responsible for occupational health and safety;
- provision of employees with personal protective equipment, if needed;
- involvement of employees (or representative bodies authorised by them) in the occupational health and safety management system and collection of feedback from employees;
- assurance of proper functioning of all levels of control over compliance with OHS regulations; Δ reinforcement of the personal interest of each employee in ensuring safe working conditions by increasing responsibility for compliance with OHS requirements;
- assessment of working conditions regularly and monitoring of compliance with statutory OHS requirements, including sanitary rules imposed to combat epidemics.
Evaluation of working conditions and professional risk assessment
The heads of Moscow Exchange’s business units manage OHS activities in accordance with the internal regulations. In the event of any complaints regarding working conditions (such as a lack of light, malfunctioning ventilation or air-conditioning systems, etc.), or where any occupational health and safety violations are identified, any employee can submit a request to technical support describing the problem.
The processes for the internal audit of the occupational safety management system are prescribed in local regulatory documents on occupational safety (regulations, procedures), in which the main significant areas are identified with the allocation of responsibility among officials. The internal audit of the occupational health and safety management system falls within the competence of the Moscow Exchange Internal Audit Service.
Occupational health and safety training
All new employees of the Group undergo compulsory induction briefings on occupational health and safety, fire safety, civil defence, emergencies, and electrical safety.
In addition, the OHS training system includes:
- an interactive video course on occupational health and safety;
- training and exams at a special study centre;
- an intranet portal where employees can review all OHS instructions and regulations and undergo online training.
Good health and employee well-being
Moscow Exchange has a strong focus on the health of its employees, as well as their relatives, and provides the following types of insurance:
1. Voluntary health insurance (VHI), which ensures that the employee and his or her relatives receive necessary medical services, including paid ambulance, dental care, and treatment in high-comfort wards.
2. Voluntary international health insurance (VIHI), which provides assistance to employees with critical illnesses (cancer, surgical procedures such as cardiovascular surgery, neurosurgery, etc.) in clinics around the world, including in the Russian Federation.
3. Accident and Illness insurance that provides compensation for damage to the life and health of employees, as well as additional financial support for relatives in the event of the loss of a breadwinner or the disability of an employee.
If necessary, the voluntary health insurance provides employees with support for pregnancy and childbirth.
Tips on healthy eating and living are regularly posted on the intranet, and there is also a healthy food station and regular Health Weeks.
Fruit is provided for employees at the Group’s offices, the cafeteria offers healthy food, and vending machines feature a healthy assortment of snacks.
There is a gym for employees with cardio machines and table tennis tables, and opportunities are provided for running, swimming, volleyball, basketball, soccer, and hockey. Competitions are also held. The Moscow Exchange indoor soccer league holds a tournament every year, with teams from various investment companies and banks taking part.
To prevent the spread of infectious diseases, especially COVID-19, the Group’s companies take comprehensive measures to continually protect their employees.