The foundation comprises our shared values, beliefs and behaviour. Building trust is what inspires and guides us every day.
The company’s ethical guidelines are designed to be applied by both employees and partners and specifies fundamental values and principles that shapes how we work. All employees receive regular training on ethical issues such as "When does a gift become bribery?", "Conflict of Interests" and "Code of Conduct".
Training statistics are monitored on a monthly basis to ensure that all employees receive regular training on ethical issues. Training topics delivered include IT security, methods used to discover and prevent money laundering and corruption, and coaching in guiding customers through difficult situations. The ethical guidelines not only require compliance with laws and regulations, but also provide guidance on ethical employee behaviour in line with Hoist Finance's values. Hoist Finance closely monitors the company's compliance with applicable legal requirements in operating countries.
Hoist Finance works continuously to ensure that all employees have a good physical and psychosocial work environment. Continuous operational improvements are made to guarantee employee well-being and ensure that employees reach their full potential. Hoist Finance works systematically with work environment and health issues, with a focus on creating a workplace that can accommodate at an early stage any employees needing extra support. This focus creates an inspiring environment for employees and customers—a workplace where employees feel comfortable and are happy to continue working.
Continuous skills development is a key element in our ability to adapt to the new digitalised landscape and collaborative ways of working. Employees working directly with financially vulnerable individuals require empathy and understanding of complicated financial and social situations. Hoist Finance employees working in collection centres are trained in conducting dialogue with customers with the aim of reaching an agreement that is satisfactory to both parties.
Essential to our business is our employees' ability to handle potential problems in drawing boundaries between regulatory compliance and having good and humane personal contact with customers. During 2019, training hours per employee amounted to 28. We have a revised Personal Development Dialogue (PDD) to ensure a constructive and sustainable commitment between employee and manager. This aims to clarify objectives and ensure continuous feedback.
When it comes to leadership development, it is essential to our business that our managers are inspiring and able to develop the company in accordance with our strategy. This requires offering managers the opportunity to grow.
Leaders are developed by identifying key positions in the business and recognising and developing colleagues who are appropriate for these positions. Hoist Finance applies the same principle when replacing people in senior positions. We also arrange an annual leadership conference, Leaders in Hoist Finance, as part of developing the company's corporate culture. Topics addressed at this year's conference included performance management, sustainability and digitalisation — three important focus areas for Hoist Finance.
With the purpose of building a strong foundation for developing our employees, we have created the Hoist Finance Academy. The goal is to create a learning environment where our leaders are focused on engaging and motivating our employees to increase good performance. Based on the Great Place to Work survey, we have focused on internal training of both managers and employees. External training has been provided as a complement in relevant areas.
Launched in 2019, the two programs within the Academy has seen many successes:
The programmes were complimented by the roll out of a new Performance Management Framework concentrating on the performance dialogue and creating continuous conversations consistently.
Employee feedback has confirmed career development is important. These programmes, along with additional localised initiatives and the development of e-learning experiences, are now providing the framework for clear and consistent career planning.
The company's continued success is based on Hoist Finance creating a diverse work environment with equal opportunities for all employees. Hoist Finance aims to be a place where people respect each other and understand the individual needs of others. It is self-evident that everyone should have the same rights and obligations.
Hoist Finance's approach to diversity is clearly formulated in the company’s diversity policy, adopted and implemented in 2017. The organisation has worked continuously since then to achieve these goals. Diversity is the area with the highest rating in the Great Place to Work survey, with 89 per cent of employees responding that they are treated respectfully.
Equality and fairness form the basis for employees' salaries, and the diversity policy is applied when setting salaries. Employee salaries are determined based on local salary levels, market practices and collective agreements where these are in place. The remuneration policy is reviewed and updated as required at least once a year.
We have empowered our employees to report observations of behaviour considered to be unethical or illegal. Hoist Finance has implemented a whistleblowing procedure through which employees can openly or anonymously notify the company of wrongdoings in the business. Cases of discrimination or other misconduct are encouraged to be reported through our whistleblowing system, which is an anonymous, web-based solution.
All concerns raised will be treated with strict confidence and the identity of the employee raising the concern is never disclosed without his or her prior consent. Anyone raising a concern will be treated fairly and Hoist Finance will do everything it can to ensure that he or she is not penalised or victimised in any way.
To continuously raise awareness of employees' responsibility in this area, E-learning courses on the whistleblowing procedures are in place. Less than five cases were reported through the whistleblower procedure in 2019.
A Shared Service Center was established in 2018, in Wroclaw, Poland as a central support function to the organisation. Types of services include accounting, IT, people, legal, tax, risk, internal audit and business control. The purpose of this centre is to gain efficiency through economies of scale and harmonisation.
A nearshoring center was initially established in Bucharest, Romania, during 2019. The official establishment date was January 2020. The purpose is to increase benefits of scale and skills and help implement standardised and harmonised processes across markets.