Integrated Report 2020-2021

4. Committing and upholding our responsibilities

A responsible reward policy

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 (MTP), and in particular its Human-centric Project.

REWARD POLICY APPLICABLE TO ALL EMPLOYEES

The reward policy participates in the three founding principles of the Human-centric Project: empowerment of employees, strengthening the close customer relationship 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 these components corresponds to different targets, in particular with respect to the remuneration of 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

FIXED COMPENSATION

Offering competitive and attractive compensation

SYSTEM

BASE SALARY

PEOPLE ELIGIBLE

ALL EMPLOYEES

Base salary is commensurate with expertise and level of responsibility and is competitive with local market conditions for each business line.

ELEMENTS OF COMPENSATION

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

SYSTEM

VARIABLE COMPENSATION

PEOPLE ELIGIBLE

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: the 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.

ELEMENTS OF COMPENSATION

LONG-TERM VARIABLE COMPENSATION

Rewarding the long-term, collective performance of the Group and its entities

SYSTEM

LONG-TERM INCENTIVE PLAN

PEOPLE ELIGIBLE

EXECUTIVE MANAGERS, KEY GROUP EXECUTIVES

This component, which rounds out the variable compensation mechanism, is designed to unify, motivate and retain talent. It consists of remuneration in shares and/or cash indexed to the share price, based on performance.

ELEMENTS OF COMPENSATION

COLLECTIVE VARIABLE COMPENSATION

Linking all employees to the Group's results to enable the collective sharing of the value created

SYSTEM

PROFIT SHARING AND INCENTIVE PLANS

PROFIT SHARING

EMPLOYEE SHAREHOLDING

PEOPLE ELIGIBLE

ALL EMPLOYEES IN FRANCE

ALL EMPLOYEES OF CERTAIN INTERNATIONAL ENTITIES

ALL EMPLOYEES EXCEPT FOR IN A FEW COUNTRIES

OTHER BENEFITS

Covering/supplementing health care reimbursements in the event of employee illness Protecting employees against life’s uncertainties

SYSTEM

LIFE AND HEALTH INSURANCE PLANS

SUPPLEMENTARY PENSION SCHEME

PEOPLE ELIGIBLE

ALL EMPLOYEES IN FRANCE

EXECUTIVE MANAGERS

In addition to direct compensation, benefits in the form of pension plans, health and life insurance have been set up within the framework of collective plans specific to each entity.

In 2021, Crédit Agricole S.A. published its Gender Equality Index, which shows very positive scores for the Group as a whole: 86/100 for the Crédit Agricole S.A. economic and social unit and between 80 and 99/100 for the other entities.