Triodos Bank’s Executive Board provides a perspective on the wider world it operates in, its impact and activity in 2017 and its prospects for the future.
Triodos Bank’s mission is to make money work for a sustainable society with human dignity at its core. Co-workers are essential to achieve this mission. The organisation’s goal is to create a living, learning community of co-workers; a working environment that’s inspiring, healthy and welcoming. Triodos Bank’s goal is to foster a workplace where each co-worker finds room to address society’s most pressing questions and each individual can work effectively in line with Triodos Bank’s mission and values.
The following table provides a summary of progress against the prospects identified in the 2016 annual report. This table is explored in more depth in the text itself.
A first group wide co-worker survey was executed during the year. With a high participation amongst the co-workers (83%), the survey provided solid insights that helped be explicit about the organisation’s strengths and identified points for improvement.
The proportion of committed co-workers is high (92%) compared to the European benchmark (68%). The results show that co-workers make a deliberate choice to work for Triodos Bank, and are closely connected to its mission throughout their career within the bank.
What are our organisation’s scores?
The ambition for the future is to offer co-workers opportunities to engage more closely with their work.
Opportunities to improve mostly relate to being a growing organisation. They concern, for example, the decision-making process within the organisation and the perceived distance between management and co-workers. Co-workers recognise that efficiency is an important issue for the organisation. In some departments a concern about the high work load has been reported.
The results have been shared throughout the organisation. Each business unit has taken initiatives to foster the positive elements and to address specific elements that need attention.
Continuous improvement approach
Efforts to create a continuous improvement culture that empowers co-workers to contribute to the improvement of work processes developed further in 2017. Tailor-made training and workshops were offered locally and group-wide. Over 70 co-workers participated, at a variety of levels, and across all functional lines.
The agile way of working was strengthened within IT and Operations. This entails the quick delivery of ’minimum viable products’ that are further developed via short cycles of review and improvement. This has resulted in significantly shorter process times.
Increased attention to process improvement created space to integrate the demands of regulatory bodies. These include implementing new legislation and monitoring and delivering in-control statements. These demands also led to recurring core banking knowledge and skills training in all business units.
The total number of
by 8.3% from 1,271 to
1,377 in 2017.
Triodos Bank continues to be a growing organisation. In 2017, 224 new co-workers were employed (2016: 249). The total number of co-workers at Triodos Bank increased by 8.3% in 2017, from 1,271 to 1,377.
Absence through sickness was 3.3% in 2017, higher than a target of 3%. An analysis was conducted where high sickness rates occur, and Triodos Bank is working to solve these issues by focussing on increasing the vitality of the co-workers and the organisation. Contributing factors vary and range from physical issues and personal circumstances to work-related issues such as work pressure, to the use of the work and meeting spaces.
Gender equality remains important to the organisation. In 2017 Triodos Bank employed 695 women (50.5%) and 682 men (49.5%). The share of women in management positions is 44%. Triodos Bank’s objective is that no more than 70% of its board positions are held by either gender. Triodos Bank currently meets this criteria in both its Executive and Supervisory Boards.
Triodos Bank believes people should be properly and appropriately paid for their work, while at the same time maintaining a ratio between the lowest and highest paid salary of between 1 to 10. Key remuneration information should be clearly and transparently communicated.
The organisation monitors remuneration within the company and between Triodos Bank and the rest of the financial and banking sector, and wider society. In The Netherlands, which is home to the Executive Board, the Head Office, Triodos Investment Management and the Dutch branch, the ratio between the lowest and highest paid in 2017 was 9.9 (2016: 9.9). Some specific cases are excluded from this ratio, for example when very junior co-workers are recruited as an apprenticeship or less qualified people are appointed to create job opportunities for disadvantaged people.
In addition, the GRI ratio on remuneration, which shows the ratio of the highest full-time salary to the median full-time salary, is reported in the Key Figures section at the start of this report. The ratio in 2017 was 5.7, as it was in 2016. Triodos Bank has set a maximum for this ratio of 7.
For more information on the international remuneration and nomination policy please refer to page 127 of the annual accounts.
Diversity and inclusion
Triodos Bank’s responsibility is to create a welcoming work environment for all. A diverse co-worker community contributes positively to the organisation’s effectiveness, vitality and makes it resilient. It aims to identify barriers to enter the organisation in terms of diversity, through awareness raising activities. And it acts to resolve any issues that arise.
Initiatives to include those with a distance to the labour market were launched during the year. Triodos Bank offered work experience opportunities, for refugees and people reintegrating after a situation of illness, in some of its branches for example. Some of these initiatives lead to permanent roles. Triodos Bank continues to explore new ways to increase diversity and inclusion, in collaboration with local refugee communities and network among others.
In line with the 2016 – 2018 Business Plan the following priorities have been set for 2018:
- Embedding a continuous improvement culture. There will be a focus on engaging senior and middle management to make sure this happens across the whole organisation in its daily operations. This will enable all co-workers to improve their work processes, maintain a compassionate connection with customers and create more efficiency in answering their needs.
- We will focus on the ability of co-workers to develop, deliver and participate in transformative action.
- Implementation of a strong employer branding approach. It will highlight Triodos Bank’s vision on working for the organisation by sharing its unique character, identity and the values it stands for both within and outside the organisation.
- Being a learning organisation will continue to be a key focus area. This will be reflected in Triodos Bank’s learning curriculum. In addition, it will extend to the organisation’s networks via collaboration with its stakeholders. With the emerging future and the challenges in society in mind Triodos Bank will deepen the connection of its co-workers to its mission and role as a mid-sized bank. Activity will include training, lunch meetings with inspiring speakers, reflection days and exchanges.