With their unique skills and experience, GPW Group employees are an important group of the Group’s stakeholders. The organisational culture of the Group is based on engagement, values and effective internal communication as well as investment in continuous employee development.

In 2015, the Company continued initiatives focused on efficient management of HR, payroll, social and bonus processes to address business needs and support the implementation of the Exchange’s strategy. In 2015, GPW launched efforts to harmonise the human resources policy across all companies of the Group. The first initiative introduced to the subsidiaries was a shared training programme put in place in the autumn of 2015, which was designed to continue in 2016.

Headcount of GPW and the GPW Group as at 31 December

GPW RECRUITMENT POLICY

The GPW Group pursues a transparent policy of recruitment, redeployment and termination of employment. GPW’s recruitment policy focuses on recruiting top-class specialists for all areas of the Company's operation. The development of human resources and employee competences includes rotation in job positions within GPW and the Group. In recruitment for strategic positions, the Exchange works with professional personnel advisory institutions.

GPW personnel structure by gender as at 31 December

In the recruitment process, the GPW Group follows the principles of diversity and combats all forms of discrimination, in particular on grounds of sex, age, disability, race, religion, nationality, political creed, union membership, ethnicity, denomination, sexual orientation, and employment for a determined or undetermined period, full-time or part-time.

GPW employee rotation as at 31 December¹

[1] Rotation is the number of employees whose employment was terminated in the year to the average headcount in the year

GPW employed 27 new persons and terminated employment of 30 persons in 2015. By comparison, GPW employed 21 new persons and terminated employment of 21 persons in 2014.

GPW TRAINING POLICY

Training plays an important role in the process of employee professional development and improvement of qualifications. GPW intensified its training initiatives, including a programme which launched several training projects for GPW Group key managers and other employees. As a result, 1,048 man-days of training were provided within 10 training modules to GPW employees, and 1,260 man-days of training were provided to GPW Group employees 2015. According to its HR policy, the Exchange co-financed MA, post-graduate, and PhD courses of employees. In order to improve their professional competences, GPW Group employees participated in market conferences, congresses and seminars. The average number of training days per GPW FTE was 5.1 in 2015. The number of training days per GPW Group FTE was 3 in 2015.

The success and reputation of the GPW Group depend not only on the quality of provided services but also the way we do business. The principles and values we follow ensure legal compliance of the GPW Group as well as its integrity and ethics.

GPW personnel by education, as at 31 December

The GPW Group had 367 employees at the end of 2015, including 316 employees with university education, 50 with secondary education, and 1 with vocational education.

GPW INCENTIVE SYSTEM

A new bonus system was implemented in 2015 for all GPW employees other than the Management Board. The objective was to incentivise employees’ superior performance based on individual targets. The system includes appraisal of employee attitudes. The appraisal identifies the employee’s strengths and areas for improvement.

Every Exchange employee has wide access to fringe benefits including: health care, reimbursement of commuting costs, the Employee Pension Scheme, a canteen system, loans including housing and medical loans, as well as payments from the Company Social Benefits Fund.

GPW CODE OF ETHICS

In addition to improvement of professional qualifications, GPW also takes steps to develop its value-based corporate culture which is unique in awarding and applying employee initiatives that improve the effectiveness of the organisation.

The GPW Employee Code of Ethics came into force in November 2013. It defines the core values applicable to all activities of the Company. The Code of Ethics was amended in 2014. It outlines the principles and values to be followed by all GPW employees; disseminates and promotes a culture of compliance with the law and decision-making based on ethical criteria in the following areas: mutual relations among employees, relations with customers and counterparties, relations with competitors, communication, promotion and advertising; and lays down sanctions for non-compliance. The document has been signed by all GPW employees.

In 2015, pursuant to the GPW Group’s CSR strategy, the Company’s Code of Ethics was implemented in the companies Polish Power Exchange and BondSpot.

OCCUPATIONAL HEALTH AND SAFETY POLICY

GPW’s priorities include a healthy, safe and friendly work environment which supports the development of the professional potential of all Exchange employees. Under its occupational health and safety policy approved in 2014, the Company works to prevent accidents at work, occupational diseases and potential incidents, to continuously improve occupational health and safety and fire protection, to improve employee qualifications, and to integrate their role and engagement in occupational health and safety initiatives. GPW’s occupational health and safety policy was integrated into the subsidiaries TGE and BondSpot in 2015. There were no accidents at work at GPW Group in 2015.

EMPLOYEE VOLUNTEERING

Employee volunteering is one of the forms of GPW’s corporate social responsibility activities. In their volunteering work, Group companies support the youth education and care centre in Franciszków and two family children’s’ homes in Ruszków. Group employees prepare Christmas gifts every year, regularly collect clothing and provide the centre with equipment including sports equipment.

TRAINEESHIPS AND INTERNSHIP

Warsaw Stock Exchange puts a strong emphasis on capital market education and learning of young people.

For many years, the Exchange has offered traineeship opportunities to university students. The students major in different disciplines including Economics, Finance, and Marketing. Furthermore, GPW runs a programme addressed to the winners of the Capital Market Leaders Academy organised by the Lesław A. Paga 2065 Foundation in partnership with GPW.