Strategic approach. Personnel is our crucial resource and personnel management is the key role and responsibility of the Company’s management. Each manager is an absolute personnel manager accountable for the employees in his custody and achieving the Company’s strategic goals through human resource management.

Partnership. We seek to develop partnership with our employees. To that end, we monitor employee opinions as to any given decisions being made by the Company, engage the personnel in decision building and decision making. The Company’s personnel motivation system relies on the principle of joint responsibility for group performance, i.e. all employees involved are jointly accountable for the successes and failures of their entire function/business unit by a portion of their salaries.

Personnel self-reliance and individual responsibility. Not only does partnership contemplate an opportunity to share success with the enterprise and earn a larger income. First and foremost, we expect our employees to show a high level of responsibility for their respective areas, for all their actions and failures to act, which directly impacts their salary level. This is especially true of function managers who must develop and improve the efficiency of their respective functions in all aspects.

Focus on best practices and technologies. We study best international practices and state-of-the-art human resource management technologies and apply them to our work.

Pro-activeness and flexibility. We very attentively monitor changes in external environment, notably those in the labor market, and align our personnel policies with such changes. All personnel development initiatives are directed towards ensuring not only current but also future results consistent with the Company’s goals.

Unity and transparency. We seek to ensure that HR technologies, personnel motivation and development tools for all of the Company’s business units are standardized and transparent for the personnel. Employees across different functions of the Company form a monolithic resource. Meanwhile, we undoubtedly take into account regional peculiarities, historical backgrounds of the works, respect and encourage cultural traditions of the enterprises.

Differentiated approach. We apply special technologies to different personnel groups (differing in position category, hierarchy level, performance, competence, etc.). We use custom-tailored approach to motivation and development of specific personnel categories (for instance, reservists, key employees).

Functional Principles of Human Resource Management.

Recruitment. When selecting candidates, we give preference to competitive selection, focus primarily on internal sources of selection, establish a mandatory probationary period for which clear goals are set.

Adaptation. We practice adaptation initiatives for new employees, create for them an open information and communication environment, use mentoring institute.

Evaluation. The competence, professionalism and performance of the Company’s employees are evaluated on a regular basis by means of tools maximizing the objectivity of assessment.

Career.  The Company forms personnel reserve for each management level, implements directed initiatives to develop the career of reservists. Reservists enjoy appointment priority during the selection of candidates for the position concerned. Meanwhile, the inner motivation of an employee is an essential condition of being included in the personnel reserve and rotation.

Training and development. Each Company’s employee must improve his/her qualification on his/her own initiative on an ongoing basis. All employee corporate training is based on the evaluation results. It is aimed at improving the effectiveness in achieving the Company’s strategic goals and objectives and is a form of investment.

Motivation. The general level of personnel pay depends on financial performance. The Company creates preconditions for differentiating the pay level by functions, personnel categories, individual employees. We seek to determine the amount of employee compensation based on the objective assessment of their performance and competence. The level of salary for specific professions is aligned with the regional and/or sectoral market value of the profession concerned.

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