Metinvest Group from May 1 this year will increase the salaries of the production personnel of its Ukrainian enterprises. During April, the company will apply a differentiated approach to the revision of salaries and will report how the salaries of various categories of employees will increase.
Metinvest will focus on equalizing the salaries of workers performing the same tasks within the same profession and qualifications. The salary increase will not yet affect the administrative and management personnel of the management company.
In matters of remuneration management, Metinvest focuses on qualified technological and maintenance personnel. In this way, the group motivates employees who make the most significant contribution to the efficiency of technological processes and product quality. At the same time, personnel in auxiliary professions, as well as employees with low qualifications, will receive a lower revision, which will motivate them to develop and acquire new knowledge and qualifications.
For many years, Metinvest Group employees have been the highest paid in the mining and metallurgical industry of Ukraine. Salaries at Metinvest are 10-15% higher than those of competing companies. As of March 2021, the average salary at Metinvest's Ukrainian enterprises is UAH 20.4 thousand. This is 10% higher than in the industry, and 65% higher than the average salary in Ukraine.
Over the past two years, salaries at Ukrainian enterprises of Metinvest have grown to 22%. In 2019, this was due to a 15% increase in salaries, and in 2020 - due to bonuses to employees for achieving record indicators in operational efficiency. The group fully covered the rise in inflation during this period.
Staff outflow in Metinvest Group over the past year has decreased from 11% to 8.6%. The company has achieved the lowest staff turnover in the last ten years thanks to the constant development of systems for adaptation, retention, training and motivation of employees.