Social performance

Compare to Report 2010

Gender equality is considered a challenge for heavy industries, as well as for most of the countries where TITAN currently operates. The European Commission is considering the application of quotas for the promotion of women to executive positions and/or Boards of Directors.

Acknowledging the necessity for broader diversity at all levels of the organization, TITAN has joined forces with 31 other companies in an ERT working team to create a European cross-industry database of female candidates for non-executive and supervisory board positions, in order to stimulate increased participation of women on company boards. The team is committed to publicizing their targets for the career advancement of women.

TITAN has one female member out of 14 persons in the Board of Directors. The principle of equal opportunities for all and no distinction between male and female is fully applied in wages and benefits. Accordingly, wages are determined in line with market practices, aiming at equal pay for equal work and differentiated only according to individual performance and potential. To ensure a better balance of working and living conditions, TITAN has always offered additional benefits to support parenthood. All employees retain their jobs after parental leave and may extend this leave when there are serious reasons for such an extension. Equal opportunties are also safeguarded by human resources development policies which support life-long learning and continuous improvement through annual performance appraisals for all managers and employees while vocational training programs are focused on continuous development of professional skills and competencies. All age groups and female employees have participated in training programs implemented by TITAN Group in 2011. Moreover, the majority of managers are local and only a few expatriates are currently employed mainly in recently acquired operations such as in the case of Kosovo.

The determination to keep decisions balanced with equal responsibility for all is reflected in the fact that there have been only minor changes in women’s representation in employment and management positions, in countries where extensive restructuring programs have taken place. Seeking to retain highly qualified employees, TITAN is investing in ongoing employee development and provides both financial and non-financial benefits to reward individual and collective efforts.