Crédit Agricole S.A. has defined a responsible reward policy that promotes the Group’s
values and is based on fair and consistent treatment of all employees.
It is at the service of its Raison d’Être, the Group Project and the 2022 Medium-Term Plan,
and in particular its Human-centric Project.
The reward policy participates in the three founding principles of the Human-centric Project: accountability of employees, strengthening the focus on customers and developing a framework of trust.
Reward combines elements of compensation in the strict sense of the word, notably those submitted to shareholder approval, as well as social benefits and peripheral compensation. Each of the components corresponds to different targets, in particular as concerns compensation related to short-, medium- and long-term performance, consistent with the 2022 MTP. All or part of these elements may be offered to each employee, according to their level of responsibility, skills and performance.
| ELEMENTS OF COMPENSATION | SYSTEM | PEOPLE ELIGIBLE |
|
FIXED COMPENSATION Offering competitive and attractive compensation |
BASE SALARY | ALL EMPLOYEES |
|---|---|---|
| Base salary is commensurate with expertise and level of responsibility and is competitive with local market conditions for each business line. | ||
|
ANNUAL VARIABLE COMPENSATION Linking the interests of employees with those of the Group and shareholders as part of the deployment of the 2022 Medium-Term Plan |
VARIABLE COMPENSATION | ALL EMPLOYEES |
| Variable compensation is awarded on the basis of the achievement of individual targets and the results of each entity, in compliance with regulatory principles. Variable compensation is directly related to the annual performance and implementation of the three pillars of the 2022 MTP: Customer, Human-centric and Societal Projects. Conduct risk, non-compliance with rules and procedures and failure to meet performance targets all directly affect variable compensation. | ||
|
LONG-TERM VARIABLE COMPENSATION Rewarding the long-term, collective performance of the Group and its entities |
LONG-TERM INCENTIVE PLAN | EXECUTIVE MANAGERS, KEY GROUP EXECUTIVES |
| This component, which rounds out the variable compensation mechanism, is designed to unify, motivate and retain talent. The Group will carry out the allocation of bonus shares beginning in 2020, in particular to the high potentials and rare expertises*. | ||
|
COLLECTIVE VARIABLE COMPENSATION Linking all employees to the Group's results to enable the collective sharing of value created |
PROFIT SHARING AND INCENTIVE PLANS | ALL EMPLOYEES IN FRANCE |
| PROFIT SHARING | ALL EMPLOYEES OF CERTAINS INTERNATIONAL ENTITIES | |
| EMPLOYEE SHAREHOLDING | ALL EMPLOYEES EXCEPT FOR IN A FEW COUNTRIES | |
| PERIPHERAL COMPENSATION |
|
|
|
Covering/supplementing health care reimbursements in the event of employees illness Protecting employees against life’s uncertainties |
LIFE AND HEALTH INSURANCE PLANS | ALL EMPLOYEES IN FRANCE |
| SUPPLEMENTARY PENSION SCHEME | EXECUTIVE MANAGERS | |
|
In addition to direct compensation, peripheral compensation in the form of pension plans, health and life insurance have been set up within the framework of collective plans specific to each entity. |
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* Subject to the approval of the General Meeting of 13 May 2020.
