Purpose and Values of Staff Management
The purpose of SIA “ZAAO” (ZAAO) staff management is to recruit employees who are able to promote the efficiency and achieve strategic objectives of the company. The values of the company are professional employees, quality of the services provided, educated clients and use of the best technology possible. In staff policy implementation all of the values are taken into account. ZAAO is proud of its team - professional employees, their teamwork, sense of responsibility, creativity and loyalty. To provide recruitment that is consistent with the staff policy values, ZAAO has implemented competitive system of payment and bonuses and has established modern and safe working conditions. The company has implemented social protection and guarantee program. Special attention is given to the occupational safety.
Labor relations in the company are regulated not only by the Labor Law. In addition to national laws, labor relations in the company are regulated by the Collective Agreement, Working Regulation and Remuneration Regulation Rules. In addition to the provisions of the Labor Law and other regulatory enactments regulating labor relations, the Collective Agreement creates more favorable conditions for the employees. The Collective Agreement states wage, occupational safety, social and health protection guarantees.
The wage is determined according to the contract between the employer and the employee, and in compliance with Remuneration Regulation Rules. The system of payment is competitive and consistent to labor market tendencies. According to Remuneration Regulation Rules, employees can get bonuses for performance quality and extra work. Under the Collective Agreement employee is entitled to holiday allowance once a year.
The company has high performance quality standards, which is based on a joint procedure, regular improvements of this procedure, optimization of work process and evaluation of the results.
Health and Accident Insurance
ZAAO provides health and accident insurance for employees.
The highest award in the company is the "ZAAO Badge of Honor" - a silver leaf. The award is given for a significant contribution to the public or economic activities of ZAAO. The employee awarded with the badge of honor is presented with a certificate of appreciation and a gratuity. The company may also reward employee with a gift or by expressing its gratitude.
The ZAAO organizes annual employee training at the company and provides advanced training courses, studies, conferences and seminars outside the company. Depending on availability, the company pays all or part of the tuition fees, if employee studies at a college, university or academy and it is necessary for the performance of the work. Company also offers career growth opportunities for its employees.
The company forms a team of its employees for participation in sport events organized by the industry association. ZAAO organizes traditional Christmas Ball with extensive recreation program as well as different team building events.
Principles of The ZAAO’s Remuneration Policy
In accordance with Section 58 of the Law on Governance of Capital Shares of a Public Person and Capital Companies SIA “ZAAO” (ZAAO) has an obligation to publish the principles of remuneration policy on its website.
The purpose of the remuneration policy is to establish the basic principles of remuneration of the employees of ZAAO. The remuneration policy is binding on all employees. This policy does not apply to the remuneration of ZAAO board members.
Principles of Remuneration Policy:
ZAAO has developed system of remuneration which is based on following principles. ZAAO is a socially responsible employer with best practices in labor law and labor protection.
1. Meeting the Socio-Economic Needs of Employees.
Depending on the experience, skills and educational level of employee, ZAAO provides a salary that enables employee to meet their socio-economic needs. ZAAO is a socially responsible employer with good practices in labor law and protection.
2. Competitive Salary.
Remuneration of employees is determined according to financial situation in the company and the economic situation in the national level. The purpose of the remuneration system is to attract qualified and competitive specialists. The level of remuneration is in line with the average wages in the public and private sector in Latvia for a particular position, as well as with the conditions in labor market.
3. Fairness of remuneration.
The remuneration system in the ZAAO is designed to ensure adequate remuneration for the work employee has done. The principle of equity requires equal pay for each position group for work of equal value. The elements of remuneration are applied to all employees on an equal basis and in accordance with principle of equality.
4. Wage compliance with contribution.
Salary in the company is designed to motivate employees to achieve their individual goals in accordance with the nature of their duties and with the level of responsibility.
5. Transparency and structure of remuneration.
The remuneration system of ZAAO employees is transparent. Remuneration is governed by the internal rules of the ZAAO - Remuneration Regulation Rules and Collective Agreement. These rules are formulated in accordance with The Labor law.
Remuneration consists of a fixed and variable component of pay:
- The fixed pay is determined by the monthly or hourly rate and is specified in the individual employment contract.
- Variable pay (bonuses) is determined in accordance with Remuneration Regulation Rules and Collective Agreement.