Employees

PFA’s employees are key to PFA succeeding with the ambitious strategy2020. PFA continuously focuses on improving the customer experience and ensuring that all customers receive good, individual and qualified advice. Read about PFA’s recommendations and much more below.

Strong employee engagement and job satisfaction

In 2016, PFA developed a new question frame for the employee satisfaction survey. The purpose was to illustrate and measure the linkage between employee satisfaction and job satisfaction, engagement, performance and results, which are all preconditions for PFA having success with achieving its ambitious strategic goals. PFA’s target for employee satisfaction and engagement was fixed at 78.5 in 2016 and was split up into three questions. This goal was achieved with the index score 80.3 as an overall average of the responses to the three questions.

A healthy PFA

PFA focuses on creating and maintained a healthy PFA. The idea behind the concept is to support the individual employee's health, well-being and energy level. Health in PFA is about creating a framework for each individual employee’s engagement at work, with a high energy level and still with a reserve of energy when it is closing time and the family is waiting at home; and friends and recreation takes energy as well. Exercise during the working day was put on the agenda in 2016 as it stimulates the engagement and affects the physical as well as the mental immune defence system. PFA also experimented with activity trackers, which measure the employee’s pulse and activity level as well as the quality of the employee’s sleep. The conclusion of this experiment and a new health screening across PFA will be reached at the beginning of 2017.

Competent advisory services

PFA works continuously to improve the customer experience and ensure that all customers receive good, individual and qualified advice.

In 2016, PFA’s pension advisers carried out 70,000 pension consultations. All of our pension advisers have been certified externally, and PFA has drawn up and published professional guidelines regarding orderly pension consultations. In this way, the individual customer is able to make his or her decision based on qualified advice from PFA.

PFA's set of guidelines for the pension consultation provides both the individual customer and the adviser with an overview and confidence during the consultation and qualifies communication with customers.

Employee policies

PFA’s internal employee policies are regularly reviewed to ensure that they match PFA’s values. The policies help ensure that the employees in PFA know what is expected from them including in situations with potential dilemmas that need to be handled.

Among other things, the employee policies cover the following:

  • Hiring close relatives
  • Work environment and well-being
  • Sidelines and honorary posts
  • Gifts and representation
  • Inside information and insider trading
  • Information security
  • Travel policy
  • Smoking policy
  • Prohibition against speculation
  • Whistleblowing policy



Gender distribution in management

Policy

PFA Holding A/S’ Board of Directors has set targets for the proportion of the underrepresented gender on the Board of Directors and adopted a policy to increase the share of the underrepresented gender on the other levels of management in the PFA Holding A/S Group (“the PFA Group” or “PFA"). This is based on the introduction of rules for the gender distribution in management, cf. Section 79a of the Danish Financial Business Act and Section 193a of the Danish Companies Act.

The policy took effect on 15 March 2013 and was most recently updated on 20 June 2016. Boards of directors and executive levels with few members are easily influenced by occasional changes, and the development should therefore be viewed over a longer period of time. PFA’s focus is on attracting qualified female candidates for both seats on the Board of Directors and management positions in general, and, over time, attaining the envisaged target figures.

Review of 2016

PFA’s target for the female representation among managers is 40 per cent, and at year-end 2016, PFA is just above the target with 41 per cent female managers. The female gender representation has been stable throughout the last few years and was 41 per cent in 2014, 38 per cent in 2015 and reached 41 per cent again in 2016. Therefore, no special initiatives have been commenced to increase the total female representation among managers.

When looking at the distribution of women at manager-level, senior manager-level and VP-level, the distribution at year-end 2016 was 48, 37 and 22 per cent, respectively. It is in particular the number of female managers and VPs that has significantly increased. However, despite the increase, the representation of female VPs still does not live up to the target.
At year-end 2016, the distribution in executive management is 0 per cent women.

PFA Holding and PFA Pension’s Boards of Directors

The Boards of Directors of PFA Holding and PFA Pension are identical.
The Board of Directors consists of 15 members of which 4 are women. This is equivalent to a gender distribution of 27/63 per cent. The target figure, which at year-end 2016 was 25 per cent, has thus been met.
PFA aims at a more equal distribution of men and women on the Board of Directors. PFA’s ownership structure and the resulting procedure for election of members of PFA Holding’s Board of Directors only makes it possible to change the gender distribution gradually and over time. The process and the initiatives to reach the 2017 objective are described in the policy.

Boards with 3 members

The objective is to reach a 33/67 per cent distribution between the genders no later than in 2016. At the end of 2016, this target was met for the Group’s property companies but not for PFA Soraarneq, which has a distribution of 0/100 per cent.

Boards with more than 3 members

The target for boards with four members is a 25/75 distribution, and for boards with more members the underrepresented gender must be gradually increased from 30 to a minimum 40 per cent. These targets must be realised in 2017.

For boards with four members, which applies to the Board of Directors of PFA Bank, the target was met at the end of 2016 as the gender distribution is 25/75 per cent. For boards with more members, which applies to the Board of Directors of PFA Asset Management, the target was not met at the end of 2016 as the gender distribution is 20/80 per cent.

Questions about CR?


Contact our CR Manager, Mette Vadstrup, at mev@pfa.dk.