Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
100% of the fixed salary. DLL had one employee whose total
remuneration exceeded EUR 1 million.
Alongside fixed salary we offer employees a broad package
of various fringe benefits which are in line with local market
practice, such as pension schemes and health insurance
packages.
Performance management
DLL uses its own PM system. It focuses on achieving results,
bringing the DLL core values into practice and the personal
development of employees. Our incentive targets are a mix
of qualitative and quantitative results. There is a lot of focus
on customer satisfaction (NPS), innovation and process
improvements. Most of our members have predominantly
qualitative targets, some being individual, some being team
targets.
Identified Staff
In 2017 DLL implemented a sub-consolidation based on the
EBA guidelines in which Identified Staff positions are accounted
for as if DLL were an independent company. Alongside the
positions identified at Rabobank Group level this resulted in a
total of 41 extra Identified Staff positions.
Rabo Real Estate Group, BPD and FGH Bank
Organisational developments
In 2016 LGH Bank was positioned as an independent
organisation within Rabobank Group.
The agreements with the unions were set out in an addendum
to Rabo Real Estate Group's 2013-15 Social Plan - a part of Rabo
Real Estate Group's CLA. The first wave of employees migrating
to Rabobank started on 1 October 2016 and was completed
one year later.
BPD's shares were transferred to Rabobank in July 2017, at
which time the employees officially left the employment
of Rabo Real Estate Group and received new employment
contracts with BPD.
Remuneration policy
Remuneration of employees of Rabo Real Estate Group (BIM
and financial Holding), BPD and LGH Bank is subject to the
(terminated) Rabo Real Estate Collective Labour Agreement
2013-2015, as the terms in this CLA keep their validation
until a new CLA is agreed upon.This specific remuneration
policy meets the requirements of the Rabobank Group
remuneration policy.The Collective Labour Agreement
includes a remuneration package consisting of fixed and
variable components and a pension scheme in line with that
of Rabobank Pension Lund. In the Netherlands, Rabo Real
Estate Group distinguishes three groups of employees: CEOs,
executives and employees subject to the CLA. Each group has
its own conditions of employment package. The Rabo Real
Estate CLA includes a Performance Competence Management
system (PCM) to steer results and employee development.
BPD and Bouwfonds IM also employ staff outside the
Netherlands. Each of the entities outside the Netherlands has a
specific remuneration policy and Performance Competence
Management (PCM).
CLA Rabo Real Estate Group
The CLA of Rabo Real Estate Group is negotiated with the trade
unions CNV, LNV and De Unie.The Rabo Real Estate Group CLA
2013-2015 expired on 1 January 2017 after an extension period,
but the terms in this CLA keep their validation until a new CLA is
agreed upon. In light of the organisational developments, Rabo
Real Estate Group has decided not to enter into a new CLA.
CLA BPD
BPD has initiated the process to draw up a new CLA for BPD
before 1 March 2018. Consultations are underway with the
trade unions De Unie and LNV (which also represents CNV).
Supplementary remuneration policy for Bouwfonds
Investment Management
Legislation under the Alternative Investment Lund Managers
Directive (AILMD) applies to Bouwfonds IM.This investment
management division is not subject to the Dutch law Wbfo*
Therefore, Rabo Real Estate Group has implemented a
remuneration policy specific to Bouwfonds IM (to supplement
the CLA and terms of employment that apply to Rabo Real
Estate Group as a whole). This supplementary policy complies
with AILMD legislation.
Wbfo; 20% bonus cap; Wbfo is an amendment and an addition to the
Dutch law Wet op het Financieel Toezicht, Wft
Rabobank Annual Report 2017 - Corporate governance
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