Distribution of value created by TITAN Group in 2011
Total value created in 2011 was €1026.6 million and distributed to key stakeholders as follows:
- To employees for salaries, pensions and social benefits, including additional benefits beyond those provided by law: €218.1 million
- To local and international suppliers: €642.9 million
- For new investments in fixed assets: €58.1 million
- To state and local authorities through taxation: €82.6 million
- Return to shareholders and minorities: €24.9 million
The need to transmit valuable technical knowledge and experience to technical professionals and newly-hired employees, as well as the need to familiarize them with the Group’s corporate culture, has led TITAN to design an integrated training system called “Career Pre-heater”. It is an intensive in-house classroom-based learning program, running in the Group’s Greek cement operations over the last seven years.
The main benefits of this program are to ensure the transfer of technical knowledge within the Group, accelerating employees’ induction into the company, acquainting them with the company’s operations and helping them build strong relationships with colleagues from other functions, thereby further enhancing communication among the Group’s plants.
The program’s purpose is to develop effectively the technological skills, leadership competencies and behaviors of professionals - with the support of TITAN Group experts and external trainers.
The program consists of 26 training modules, covering all technical topics related to the company’s industry. In light of the company’s needs and the encouraging results of the program, its implementation was extended to include other Business Units (Albania and Bulgaria, F.Y.R. of Macedonia and Serbia).
This year the focus was on inter-departmental participation of engineers, exchanging knowledge and know-how and thus simultaneously creating an additional communication bridge between departments for further enhancement of plant efficiency.