Human resources policy

Human resources policy of group of companies RUSTEEL establishes basic principles in the sphere of recruitment and optimization of staff composition, staff development and its evaluation, motivation of employees and compensation for active work, as well as rules of interrelations and behaviour inside Group of companies.

GENERAL PROVISIONS

• Present human resources policy is uniform for group of companies RUSTEEL.
  • 1.1. Philosophy of human resources policy is based on the fact that prosperity of Group of companies is created by people working for them, that is why we:
    • promote development of professional skills and initiative of our employees so that each company of the Group became the leader in its sphere of activity,
    • provide social support for our employees and fair payment for their work in accordance with their labour contribution.
• We believe that strategic aim of human resources policy is to form the team of professional like-minded persons able to find viable solutions in difficult situations, oriented at implementation of Group of companies strategy and devoted to corporate values.
• Main tasks of human resources policy are:
  • Improvement and stabilization of companies staff composition;
  • Creation of effective system for employees’ motivation;
  • Implementation of system of training and skills upgrade for specialists and managers;
  • Development and implementation of staff evaluation/attestation systems;
  • Formation and strengthening of Company corporate culture.

GUIDELINES OF HUMAN RESOURCES POLICY

• Principle of initiative encouragement. Group of companies appreciates all new propositions and ideas. For application of innovations and changes in business economic assessment is required. Information channels for propositions exchange are personal meetings with chief executives, as well as electronic mail and official correspondence.
• Principle of non-reliance. Companies encourage making independent decisions within own powers. In this case superior officer is just an advisor whose knowledge and competence can be used by you in solving complicated tasks.
• Principle of “right to mistake”. Any mistake can and must be turned to profit by analyzing its reasons and offering means to avoid such mistakes in future. Punishment for the first made mistake is minimal. Everyone has the right to mistake.
• Principle of result orientation. Work of every employee is evaluated on the basis of specific results. Number of set goals (tasks) must depend on possibility of their achievement.
• Principle of professionalism. Staff of Group of companies is a professional team. High professional level of our employees is manifested in systematic improvement of quality of rendered services, skills upgrade, increase in creative activity, ability to perform their professional duties as successfully and efficiently as possible, as well as awareness of the fact that the task will be solved only in case of constant active use of one’s knowledge and abilities.
• Principle of openness. We are seeking to transparence of our actions and openness of our plans for our foreign and domestic partners. We encourage free and fair exchange of information between employees. We deem timely notification about problems and their open discussion as the only way to find their solution.

HUMAN RESOURCES POLICY IN THE SPHERE OF RECRUITMENT AND OPTIMIZATION OF STAFF COMPOSITION

• We perform selection of applicants in accordance with principle of equal opportunities for all people who come to us. We do not only evaluate knowledge and experience, but also take into consideration applicants’ personal qualities.
• Accomplishment of principle of professionalism is achieved through multi-stage procedure of selection and admission on a competitive basis which is governed by internal normative document “Regulations on staff”.
• Optimization of staff composition involves:
  • rotation of employees, i.e. transfer of employees from one position to other within Group of companies;
  • dismissal of employees whose qualities and professional competence do not meet the requirements for an employee in specific work-place or position.

HUMAN RESOURCES POLICY IN THE SPHERE OF STAFF DEVELOPMENT AND ITS EVALUATION

• Group of companies encourages aspiration for professional development and career growth. An employee is entitled to submit the offer to his superiors concerning upgrade of his professional skills and career promotion. In case of operational need training of employees can be partially or completely paid for by enterprise. In this case specialist is obliged to work in the company for the period of time specified in apprenticeship agreement or to reimburse money spent on his training.
• Periodical staff evaluation is performed annually and governed by Regulations on evaluation.

HUMAN RESOURCES POLICY IN THE SPHERE OF MOTIVATION OF EMPLOYEES AND COMPENSATION FOR ACTIVE WORK

• In the sphere of motivation we are guided by the following principles:
  • payment for work is made depending on results of labour of each employee and his/her personal contribution to achievement of goals of enterprise;
  • transparence and understandability of applied wage system;
• Monetary remuneration in Group of companies consists of two parts: permanent guaranteed component in the form of position salary, and variable component.
  • Position salary is fixed in schedule of positions and salaries of each company of Group in accordance with “Regulation on payment for work and bonus payment”.
  • Variable component of monetary remuneration is fixed in “Regulation on payment for work and bonus payment” approved in each company of Group. Variable component can include employee profit sharing plan.
  • Apart from payment for work, non-financial methods are used to promote aspiration for efficiency improvement.

SOCIAL RELATIONS

• Social program which is uniform for all employees was approved and exists in Company.
• Each employee shares and supports charity activity of Group of companies aimed at help and support of nurslings of children’s homes, schools and other social organizations working with children.

RULES OF INTERRELATIONS AND BEHAVIOUR INSIDE GROUP OF COMPANIES

• In order to create positive working atmosphere, regulate professional behaviour and interrelations of employees, Ethics Code and Internal Work Regulations (IWR) were approved in Group of companies; their provisions are obligatory for all employees.
• Rules stated in these documents are accepted by each employee – from Chairman of Board of Directors to workers in all subdivisions.
• Each newly admitted employee becomes familiar with Ethics Code and IWR prior to employment.

FINAL PROVISIONS

All above rules and principles are crucial for us, equally observed by all employees, and each employee is equally responsible for their non-observance.