Organisational and financial implications
of the strategy
Cooperative roots
Leading in HRM policy
Sustainability
Rabobank Group's strategic ambitions have been embedded in a cooperative and high-
quality organisation driven by corporate social responsibility.
The cooperative is and remains Rabobank's cornerstone. The local Rabobanks and Rabobank
Nederland, which is also the holding company of the Group's subsidiaries and equity
investments, are managed in accordance with the cooperative model and will continue to be
so. Over the past years, Rabobank has succeeded in strengthening its cooperative identity,
partly by embedding member influence in the cooperative further through the introduction
of member councils. The scaling-up process of the local Rabobanks typically goes hand in
hand with the introduction of the executive model and further professionalisation of the
management function. Another key factor is cooperative dividend, the investment in social
activities and commitment, which makes members increasingly committed to the bank's
image in society. Cooperative dividend comprises spending and efforts for the improvement
of the economic, social and cultural environment, including sustainability initiatives.
A growing number of local Rabobanks materialise their cooperative dividends by
establishing a body of cooperative funds and regional sustainability funds, among other
things. Members have influence in the distribution of these funds. Currently, the 'Dichterbij'
member magazine is being filled with local news by all the local Rabobanks separately,
with more than 170 different editions being mailed to members.
At 31 December 2007, the local Rabobanks have more than 1.6 million members.
Further development of active member engagement is crucial to the local cooperative's
permanent license to operate. In the coming years, the cooperative's distinct character will be
emphasised further, both internally and externally.
The quality of our people is of paramount importance to our strategy. Rabobank's HRM
policy is aimed at attracting and developing talent, broadening its management and
improving the flow of staff. In the year under review, a Group-wide management talent
development programme for senior staff was introduced. Another important aspect is
ongoing investment in knowledge, skills and experience. 'People make the bank - even
better', Rabobank's HRM vision which was refocused in 2007, describes the development of
the organisation's HR management by reference to three themes: Smarter working, Career
and Diversity. Based on these umbrella themes, the bank's HRM policy was defined further in
2007 and this will be continued in a similar fashion going forward.
Employee satisfaction in general remained high in 2007, with 85% (87%) of staff being
satisfied, all things considered, with working at Rabobank. In 2007, Rabobank was awarded
the title 'the Netherlands' most favourite employer' among the highly educated for the first
time in the Intermediair magazine's image survey. In 2006, the bank came third.
NGOs, public authorities and consumers increasingly demand that commercial enterprises
conduct their business while having regard for the quality of life of our planet.
Poverty alleviation and climate change are the international themes of corporate social
responsibility that have been in the focus of attention in recent times. Rabobank Group too,
has made a commitment to deal carefully with issues such as human rights or the use of scarce
sources of (fossil) energy. Accordingly, Rabobank Group intends to maintain and further
expand its leading position in sustainable entrepreneurship and corporate social responsibility.
In 2007, particularly good progress was made in embedding CSR criteria in our core
activities. The greatest impact came from embedding CSR in the lending process. Other aims
are to grow the sales of CSR products and services, to expand Rabo Development and to
lower the environmental burden.
18
Rabobank Group Annual Report 2007
